Enhancement Fee Grant Program for First-Time Buyers

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Great News for First Time Home Buyers looking in the communities of Ladera Ranch and Talega in Orange County.

The Orange County Association of REALTORS® (OCAR) was approved for a $50,000 grant from the California Association of REALTORS® (C.A.R.) Housing Affordability Fund (HAF).

It is currently very difficult for first-time homebuyers to purchase a home in the communities of Ladera Ranch and Talega. The Federal Housing Administration (FHA) has restrictions on community enhancement fees, of which both of these communities have.

The purpose of this grant will be to pay the enhancement fee for first-time homebuyers to make it easier for them to move into these communities.

Who qualifies for the grant?

This grant is for first-time home buyers who purchase a home under $650,000 with 10% or less down in Ladera Ranch or Talega.

How much is the community enhancement fee?

The enhancement fee is equal to 1/4 of 1% of the purchase price.

How long will the grant be available?

The grant will be available until September 27, 2017, or until the funds are exhausted

**IMPORTANT DETAIL: The buyer or seller’s agent must be an OCAR member to receive the grant. GREAT NEWS, I am a member of OCAR, so for more details about this program and to determine if you qualify as a First Time Home Buyer, please contact me directly at 949-554-9110 or email me at thepetschegroup@kw.com and just put Ladera Ranch and Talega in the subject line. REMEMBER: This grant will only be available until September 27, 2017, or until the funds are exhausted, so contact me sooner rather than later.