Cleveland Real Estate Information - $14000 Down Payment Assistance Basics - Using Testimonials - www.cjharrington.com

Posted By:
CJ Harrington
cj@cjharrington.com
www.cjharrington.com
440.336.0612
Keller Williams Realty
2009
To Qualify for the City of Lakewood Downpayment Assistance:


- Must be first-time homebuyer or have not owned a home in three years.
- Must participate in pre-purchase counseling program.
- May not exceed maximum income amounts
1 $34,800
2 $39,750
3 $44,750
4 $49,700
- Must provide minimum 1.5% of own money
- Monthly payment of principal, interest, taxes and insurance should not exceed 33% of buyer's gross monthly income.
- Property must pass Lakewood home inspection.

Features:

City of Lakewood provides a second mortgage loan at 0% interest rate in the following amounts:

- $7,500 for condo
- $10,000 for single-family home
- $14,000 for two-family property

Terms:
Payment of City of Lakewood deferred until home is sold, transferred or becomes absentee owned. Buyers of two-family homes get a special loan forgiveness as follows: 50% forgiven after five years, then additional 20% forgiven yearly until 100% forgiven in 10 years.

First Federal of Lakewood mortgage up to 95% LTV with no mortgage insurance priced .5 off conventional 30 year rate with NO MORTGAGE INSURANCE.

No minimum credit score.
Many Cities are offering free money today. Call us now to find out more about this or many of the other exciting programs.
Please visit our website at www.cjharrington.com for FREE information.

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