By C.A.R. offers mortgage protection plan for first-time buyers
The California Association of REALTORS® announced a new program this week that could help you attract first-time buyers.
Under the C.A.R. Housing Affordability Fund Mortgage Protection Program, qualified first-time homebuyers could receive up to $1,500 a month for six months to help with mortgage payments if they get laid off from their jobs.
To qualify, applicants must:
- Be a first-time homebuyer
- Close by the end of the year
- Use a California REALTOR® in the transaction
- Buy the property in California
- Be a W-2 employee
“The Mortgage Protection Program was developed to help ease the anxiety of consumers who are concerned about potential job loss and its impact on their ability to pay their mortgage should they purchase a home,” said C.A.R. President James Liptak. “It also provides peace of mind to those buyers who are actively searching for a home.”
C.A.R. expects about 3,000 households will receive assistance in the first year. C.A.R. says its Housing Affordability Fund will dedicate $1 million toward the program.
For more details, click here.
See Also
- Intero Real Estate Services- Find Real Estate, Property For Sale, Homes For Sale
Intero Real Estate Services is one of the premier real estate brokerages. Find real estate, properties, homes for sale in Arizona, California, Colorado, Florida, Hawaii, Nevada and Texas. - California Association of Realtors®
The CALIFORNIA ASSOCIATION OF REALTORS® is one of the largest state trade organizations in the United States, with nearly 180,000 members dedicated to the advancement of professionalism in real estate.
