Escondido

Down Payment Help

Maximum gross income:

Family Size:

1-$60,500	5-$93,400
2-$69,200	6-$100,300
3-$77,900	7-$107,300
4-$86,500	8-$114,200


5% of the purchase price or $25,000 silent second loan
Additional $7,500 may be available for closing costs through a county program
This loan may be used in conjunction with a 3% of purchase price silent 3rd mortgage
The MCC program is also available

There is no personal minimum contribution of funds required.

Example: Family of 4 with an annual income of $72,000 purchase a home for $350,000

Purchase Price:	$350,000	Effective monthly payment
		P&I	$1,812.48
Escondido second	$25,000	Hazard ins.	$55.00
Silent 3rd	$10,500	Taxes	$364.58
		Mtg Ins	$130.23
First Mortgage	$314,500	MCC	-$292.62
			2069.67
Closing Costs	$7,537.00
Prepaids	$2,472.17
Silent 4th	-$5,000.00
Funds to close	$5,009.00

Loan information is based on a 30 year fixed rate of 5.5% apr. 6.069%

Interest rates are subject to change.

Want to get pre-approved? Apply Online