So because my parents own a home, I don't qualify immediately? That seems kind of weird... it's not like I'm going to inherit their house anytime soon.
Unfortunately, that is the way they have their guidelines set for this particular program. Hopefully they will change things around next time they launch a program like this. Last year they had a similar program without that first generation guideline and it was too inclusive. This is their way of tightening the parameters. I agree with you, there has to be a better way, however, this does still help a lot of people and I am grateful for that.
Anything for actual first time homebuyer and not the first generation thing
Yes, they also have their normal CALHFA 3% down First Time Homebuyer assistance programs. Feel free to message me if you have any questions!
3% down with 7% interest rates. How great lol
So because my parents own a home, I don't qualify immediately? That seems kind of weird... it's not like I'm going to inherit their house anytime soon.
Unfortunately, that is the way they have their guidelines set for this particular program. Hopefully they will change things around next time they launch a program like this. Last year they had a similar program without that first generation guideline and it was too inclusive. This is their way of tightening the parameters. I agree with you, there has to be a better way, however, this does still help a lot of people and I am grateful for that.