The Town of Paradise provides a deferred loan to eligible first-time home buyers
By Tammy Vertrees, Real Estate Consultant
The Town of Paradise provides a deferred loan to eligible first-time home buyers. The loan provides a bridge between what borrowers can afford on their own and the amount needed to purchase a home. The loan is secured by a note and a deed of trust on the home. It does not require monthly payments. Repayment of the loan is required when the home is sold; the family stops using it as their principal residence; or title is transferred out of the names of the original borrowers. At the time the loan is repaid, the Agency collects its original loan amount, plus interest or a share of the homeowner's equity. Contact me for Loan Procedure Instructions for Homebuyers I am a Certified Realtor with the Town of Paradise program Contact me for the Program Guidelines TO BE ELIGIBLE, THE APPLICAN...
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