Long Beach First Time Buyers
LONG BEACH FIRST TIME HOME BUYER ALERT 2020!
The NSP2 (Neighborhood Stabilization Program)
******The City of Long Beach is no longer accepting applications for the NSP2 or NSP3 Program - PLEASE check back periodically as the city is always trying to create new ways for first time home buyer home ownership.*******
WAIT! FHA program 2020 requiring minimum 3.5% down payment still available!
FHA is not limited to a specific neighborhood or area and is widely accepted throughout all of Los Angeles, Riverside and San Bernadino Counties!
A Los Angeles county first-timehome buyer using FHA can buy
Single Family homes, income properties (4 units or less)
- 3.5% down
- generally FICO 620 and over (640 preferred)
- upfront mortgage insurance
- Mortgage insurance term - as of June 3, 2013 this will be paid for the life of the loan (see if you can get lender to cover)
- Owner Occupied only
- loan limits up to $625,500 depending on neighborhood and county
FHA FICO score requirements
minimum 620 or higher