Even though the name of this website is ParadiseRetirees.com and it is designed for young retirees, there really are no age requirements for being a first time homebuyer, the only requirement is that you may not have owned a home in the last 3 years.  Buyers of all ages, no matter how young, or how far from retirement, are welcome and will find a wealth of knowledge in the pages and services of this website. The Town of Paradise Down Payment Assistance Program has helped many first time homebuyers, including those who have not owned a home for the past three years, purchase their dream home, by providing qualified buyers up to $40,000 towards their down payment.  This plan encourages long time homeownership with added benefits after living in the home for ten years,and addotional benefits after 20 years.  Basically the down payment is a silent second, the very low interest does accrue, but it is deferred until the home is sold and the loan is repaid.  Which means you make no payments on that $40,000, and don't pay anything until you sell the property.  A few of the requirements follow, but it is imperative and required you use the services of an accredited Realtor,  like Lynn and an accredited lender, such as June at Gold Country Lenders.  It is a little bit more work, it is a little bit more difficult to qualify but it sure pays off.

Application Process/Selection Applicant(s) work with Town-certified lenders of choice to obtain the primary lender’s pre-qualification. Applicant(s) then work with a certified real estate agent to select a home and enters into a purchase contract, continent upon receiving Town program loan approval. Lender provides Town with a copy of loan packet. Town will review the packet for compliance with program guidelines and submit the package and recommendation to the Town Manager for approval. The Town provides the applicant with a decision letter. Eligible buyers will be qualified on a first-come, first-served basis.

The Town of Paradise has an allocation of State CalHome funds available for mortgage assistance to qualified borrowers, who can qualify for up to $40,000. Funds are provided to qualified households in the form of a 30-year, deferred-payment mortgage. The CalHome First-Time Homebuyer Mortgage Assistance loan helps buyers purchase homes by providing financial assistance to reduce the amount of the first mortgage.

To find out more information on the Town of Paradise Down Payment Assistance program, simply contact us through any of the questions/comments boxes located throughout the site, and we'll start you on the path to affordable homeownership, available to any buyer who has not owned a home in the last three years and meet the town requirements for credit, and income.