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How to afford to buy a house in California if you make $150,000 or less
The state of California government is on alert because of a lack of inventory for homes. Because of the sky racketed prices for any property, the Golden State is witnessing residents leaving every year and in risk of losing electoral power. The CA government has become more and more active in housing, issuing programs to make homeownership affordable again and keep the American Dream alive.
This is a pivoting point when NEW financing programs have been in place to help homeownership for CA residents who earn as much as $150,000 per year. We previously touched on multiple down payment programs with 0% financing options and possible $40,000 funds available for your new ADU to cover soft costs (permit, design, engineering, etc.).
A helpful overview of financing programs for mid to lower-income professionals, shared at the STEPS event organized by C.A.R., shows how Realtors can better assist prospective buyers while addressing housing shortages and bridging the gap between local government and residents.
California Association of Realtors has incredible resources available for anybody to access these funds.