20% Down Payment Assistance Dream for All Loan Update & First Time Buyer Workshop Garrick Werdmuller of FreshHomeLoan
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- 1 year ago
Garrick Werdmuller, President and CEO of Fresh Home Loan Inc explains The Dream for All Loan
Dream for All CalHFA Down Payment Assistance
Dream for All is an Equity Share Loan
California's Housing Finance Agency has announced it will pause the Dream For All Shared Appreciation Loan program due to the imminent depletion of funds.
Because there is so much demand for this product, we are putting together a list of pre-approved borrowers and will notify them when the funds return.”
— Garrick Werdmuller, President/CEO Fresh Home Loan
ALAMEDA, CALIFORNIA, UNITED STATES, April 12, 2023/EINPresswire.com/ -- “Well, that was a fun 11 days!” jests Garrick Werdmuller, Broker and CEO of Fresh Home Loan Inc. Independent Mortgage Brokers That Work for The People. Werdmuller is talking about CalHFA’s most recent home buyer assistance program known as Dream For All.
“The program created a lot of buzz for first time home buyers, it was incredible” explains Garrick Werdmuller. The program made $300 million in funding available, which is expected to assist over 2300 Californians in achieving homeownership. However, the funding source for this program is separate from all other CalHFA programs, and the agency's other single-family lending programs will continue to be available.
The program is ‘On Pause’ according to CalHFA, and it sounds like funds could return again in the future. “Because there is so much demand for this product, we are putting together a list of pre-approved borrowers and will notify them when the funds return.” Explains Werdmuller “One thing I have seen is many buyers took the steps to fill out the application however when the funds ran out, they no longer wanted to pursue getting pre-approved for a home purchase. I think first time homebuyers should not count on a 20% home loan grant or else they could be waiting to buy a home for the rest of their lives. There are a lot of great zero down loans out there. Dream for All is a good opportunity but when people go to sell or refinance the 20% equity share will turn out to be a pretty high interest rate loan and could sting a bit.”
Fresh Home Loan and Garrick Werdmuller are holding a LIVE Stream update on the product along with their first-time home buyer workshop on April 13th 12 PM PST. To learn more about the event visit: https://www.facebook.com/events/181009571438117
To apply to be on the list for Dream for All, or to get more information for your specific scenario you can fill out this quick easy form:
https://freshhomeloan.com/home-purchase/
You may also contact Garrick Werdmuller directly at:
Garrick Werdmuller
President CEO
Fresh Home Loan Inc
510.282.5456 call/text
www.FreshHomeLoan.com
NMLS 242952
All loan approvals are conditional and not guaranteed and subject to lender review of all information. Loan is conditionally approved when lender has issued approval in writing, but until all conditions are met, loan cannot be funded. Specified rates and [products may not be available to all borrowers. Rates subject to change according to market conditions and agreed upon lock times set by borrower. Fresh Home Loan Inc. is an Equal Opportunity Mortgage Broker in California. This licensee is performing acts for which a real estate license is required. Fresh Home Loan, Inc. is licensed by the California Department of Real Estate #02137513 NMLS # 2124104
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Garrick Werdmuller
Fresh Home Loan Inc
+1 510-282-5456
email us here
