{"id":991,"date":"2022-12-02T14:33:57","date_gmt":"2022-12-02T22:33:57","guid":{"rendered":"https:\/\/governmentloanpros.com\/?p=991"},"modified":"2022-12-02T14:33:57","modified_gmt":"2022-12-02T22:33:57","slug":"riverside-fha-loan-down-payment-assistance","status":"publish","type":"post","link":"https:\/\/governmentloanpros.com\/blog\/riverside-fha-loan-down-payment-assistance\/","title":{"rendered":"Riverside FHA Loan Down Payment Assistance"},"content":{"rendered":"
Riverside FHA Loan Down Payment Assistance<\/strong><\/p>\n Why do we offer Down Payment Assistance for FHA Loans in Riverside? <\/strong>That answer is simple. Many families and individuals save up money for the down payment on their FHA Loan.\u00a0 Usually 3.5%, the most common down payment for an FHA Loan. The problem is that may not be enough money to cover the closing, settlement, and prepaid costs associated with a home purchase loan. FHA loans, just like any other home purchase loan, will incur costs including closing costs from both the Lender and third parties such as title insurance, escrow agents, notary, recording, appraisal,\u00a0 prepaid property taxes and homeowners insurance to set up your impound account (so the monthly payment will include property taxes and insurance so you don’t have to pay that separately), and up to 30 days of per diem interest (this is what keeps your first house payment at least 31 days from the closing date.<\/p>\n Many Families and Individual home buyers have the income and credit character to qualify for a FHA home loan, but don’t have the funds saved up for the down payment, closing, settlement and prepaid costs.<\/p>\n There are several ways to help cover the amount of these funds needed:<\/strong><\/p>\n Some interest rate and real estate environments make some of these options less favorable or even unlikely for a home buyer.\u00a0We have a solution.<\/p>\n Our Down Payment Assistance option for our Riverside FHA loans can provide up to 5.5%<\/strong> of the purchase price toward your closing costs, settlement costs and prepaid items for your home purchase.\u00a0 The Down Payment Assistance is in the form of a 2nd Loan.<\/p>\n Here are some of the features of our Down Payment Assistance for Riverside FHA Loans:<\/strong><\/p>\n\n