Sunday, May 26, 2024
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Phil Joseph
Branch Manager
Sr. Mortgage Loan Originator
Over 30 Years' Experience
Movement Mortgage 
Rancho Bernardo Branch
11770 Bernardo Plaza Court #451
San Diego California 92128

Direct: 619.507.3558
Fax: 858.430.2557
Email: Phil@PhilJoseph.com
Website: www.PhilJoseph.com
NMLS# 249549
 
Licensed in California by the Department  of Business
Oversight under the Residential Mortgage Lending Act 417-0015 
 
Movement Mortgage may not be the lender for all products offered on this website. Some loans may be made by a lender with whom American Pacific has a business relationship. Equal Housing Opportunity.
 
Phil Joseph
Branch Manager
Sr. Mortgage Loan Originator
Over 30 Years' Experience
Movement Mortgage 
Rancho Bernardo Branch
11770 Bernardo Plaza Court #451
San Diego California 92128

Direct: 619.507.3558
Fax: 858.430.2557
Email: Phil@PhilJoseph.com
Website: www.PhilJoseph.com
NMLS# 249549
 
Licensed in California by the Department  of Business
Oversight under the Residential Mortgage Lending Act 417-0015 
 
Movement Mortgage may not be the lender for all products offered on this website. Some loans may be made by a lender with whom American Pacific has a business relationship. Equal Housing Opportunity.

Down Payment Assistance

Many local and state agencies run bond programs to generate funds to help individuals and families with a down payment. Contrary to public thinking, these bond issues are not a type of welfare. The government knows that it can be tough to buy that first home, especially on a limited income.

Most agencies are income sensitive, but you may be surprised by the high level of acceptable income. The income level is especially high if you have children or dependents. Most agencies also have purchase limits, but they are adjusted to the income qualifications level.

If you are able to obtain down payment assistance, you may receive a lower interest rate. The drawback is that it often takes quite a bit of work with extra paperwork and mandatory education classes. Our advice, find a realtor or mortgage professional who is familiar with both the local and state agencies and their policies.