Best Wishes for a Happy Holiday Season

This is Sharma with the Sharma Group at Platinum Home Mortgage. 

I just wanted to take this opportunity to say thank you for all your continued support. I am thankful for so many wonderful relationships that I have built with many of you. 

Your support has created my existence in this business and has filled my mindset with many inspiring thoughts. Have a wonderful Christmas with your friends, family and loved ones.

New FHA Maximum Mortgage Limits

Hello friends, families, colleagues, and clients.

This is Sharma with The Sharma Group at Platinum Home Mortgage.

Today I have important, time-sensitive information to share with you regarding changes to the FHA maximum mortgage limits that become effective January 1st.

There are areas in Alaska, Hawaii, Guam and the Virgin Islands where the maximum mortgage limits have gone up; however, in California, all of the counties around us have dropped… making NOW the time to finalize sales contracts and get mortgage applications submitted. 

Here are the changes in our area:

• Los Angeles and Orange Counties saw a drop of over $100,000 to a new maximum mortgage limit of $625,500.  
• Riverside and San Bernardino Counties saw a drop of nearly $150,000 to a new maximum mortgage limit of $355,350.  
• San Diego County dropped to $546,250.  
• Ventura County dropped to $598,000.  
• And Kern County dropped to $271,050. 

To learn about the new limits for 2 to 4 unit properties and for properties in other states, please feel free to call me at 626-712-3052 or email me at sanjesh.sharma@phmc.com. As always, you can visit me online at: http://www.phmc.com/ssharma/

Thank you, again, for your continued support and have a wonderful day. 

The California Home Buyer’s Down Payment Assistance Program (CHDAP)

Hello friends, families, colleagues, and clients.

This is Sharma with The Sharma Group at Platinum Home Mortgage.

Today I’m reaching out to tell you a little about an amazing program only available to residents of California that helps minimize the amount of out-of-pocket funds a borrower must pay at closing.

The California Home Buyer’s Down Payment Assistance Program, or CHDAP, offers qualified borrowers a deferred-interest second mortgage for up to 3% of the sales price.  These funds are used for the down payment and/or closing costs and help make homeownership more attainable.

If you have a client who is short on funds, but ready to buy now, this is a great option.  The CHDAP may be combined with a conventional, FHA, VA, or USDA Rural Housing first mortgage.  No payments are made on the CHDAP loan until the property is sold or refinanced.

There are a few stipulations: the property must be an owner-occupied, primary residence and certain income and credit restrictions do apply.

To learn more about this program, please feel free to call me at 626-712-3052 or email me at ssharma@phmc.com.  As always, you can visit me online by clicking here.

Thank you, again, for your continued support and have a fantastic day.