HEAD SHOT OF BONNIE ALETAHA

Realtor Bonnie Aletah

Renting a two or three bedroom house in Southern California will cost you
about the same each month as buying an affordable home in SoCal,
 $1,500 - $2,500 per month. 

“There is a mortgage subsidy loan program to help first time home buyers
come up with a down payment or closing costs on their dream home,” said
Real Estate Broker Bonnie Aletaha, Woodland Hills, CA. “W.I.S.H. matches
your dollar three to one for a down payment or closing costs.”

For example:  The buyer contributes $3,000 to transaction, W.l.S.H. will
contribute $9,000 to use towards down payment or closing costs.  “This is
one of the largest obstacles for renters who want to buy a home, they have
difficulty coming up with the closing costs or down payment. In reality, if you
consider leasing or renting a home you often have to come up with first and
last month’s rent and a deposit.”

“Right now is a great time to buy a home with low interest rates, and it is a
buyer’s market,” said Real Estate Broker Bonnie Aletaha. “So time is of the
essence.”

“The W.I.S.H. program is designed for first time buyers, which is someone who
has not owned real estate in the past three years,” said Mortgage Loan Officer
and Specialist Tom Saras, Chatsworth. “The bank will match three times what
the buyer puts in up to $15,000.  For example: “Let’s say you’re buying a
property and you need $16,000 for down payment and closing costs to close
the escrow. The buyer comes up with $4,000; the bank will match it with three
 times the amount or $12,000 so you have $16,000 to close your transaction.”

The W.I.S.H. Guidelines are spell out at MortgageSubsidy.info
HEAD SHOT OF TOM SARAS

Tom Saras, Mortgage Bank Loan Officer

“Cash is hard to come by right now,” said Saras and if I can get you into a
home with $4,000, you now have home ownership, a tax write-off and you’re
paying the same as your rent, isn’t that great?” 

There is a limited amount of funds allocated for this program at approved lenders.

Workforce Initiative Subsidy for Homeownership (WISH program)
The WISH program provides matching grants to qualified first time homebuyers.

Only bank members may submit applications

The household income of the homebuyer at the time of enrollment in the
WISH program is 80 percent or less of the HUD area mediam income

Participants must complete a homebuyer counseling program

Under the WISH Program, the bank will provide up to $15,000 per household,
matching up to $3 for every dollar contributed by the homebuyer toward the
purchase of the home.

The WISH Program can complement or supplement a variety of state, local
and federal homewonership programs. They include CalHFA, NSP and FHA.

For information and media interviews with Real Estate Broker Bonnie Aletaha,
Woodland Hills or Tom Saras, mortgage loan officer and for Spanish speaking
first time home buyers contact MAYO Communications, 818-340-5300.
Habla Espanol Hotline 818-618-9226
For information about W.I.S.H. program visit: MortgageSubsidy.info
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