Asking if it’s hard to buy a house in the Bay Area, is like asking if the Bay is wet. But for some first-time homebuyers – a little help may be at hand.
If you have your eye on buying in San Mateo County, you may qualify to get your new home for just five percent down (and no requirement to buy expensive private mortgage insurance).
You can get all the details about the program at a free workshop for first-time buyers:
Monday, June 4th, 5 to 6 pm – at the Redwood City Community Activities Building (1400 Roosevelt Avenue) – sponsored by HEART (Housing Endowment and Regional Trust) and Meriwest Mortgage.
The key requirements to be eligible? Families with incomes up to $150,000 and good credit – who live or work in San Mateo County – and who want to buy their first house or condo in the county.
HEART is a partnership between San Mateo County and the cities in the county, with business, nonprofit, education and labor – to create more affordable housing, and more opportunities to afford housing.
You can get the rest of the details about the program at Monday’s workshop – or if you want to learn more ahead of time, about HEART, about applying or about qualifying – HEART of San Mateo County has all that and more.
Since 1990, the average rent for a two-bedroom apartment has more doubled. The median home price has gone up more than three times. If you live here, that won’t come as any surprise. But HEART’s Opening Doors program may be a welcome surprise for families who thought buying a home was a closed door for them.
