Financial Help for Locals

The Town of Truckee and its Redevelopment agency have combined forces and will be rolling out a new downpayment assistance program for first time buyers within the town of Truckee on December 18, 2009.  The assistance program will come in the form of  “silent seconds” whose terms will be 30 years, interest rate will be 2-3% and neither the principal nor the interest will be due until the house changes hands again or the 30 years have expired, whichever is first.  In other words, the money will not have to be repaid at all until the borrowers sell their home.

This program is designed to be used on some of the affordable stock within the town of Truckee’s inventory.  We are not talking about just deed restricted properties, rather, also those properties that are currently lowering in price to the point where they become affordable.

As you can imagine, there are some restrictions with regard to income, family size and to the price to be paid for the home.  The eligible home prices are from $265,000 to $445,000.  These home prices are available in the Truckee area (see link below).   Be sure to get in touch with us for more information or call David Griffith, Redevelopment and Housing Coordinator with the Town of Truckee.  He is the expert and really great to deal with.

HERE IT IS TRUCKEE!!  Now with the extension of the 1st time homebuyer tax credit this tool makes it impossible not to look at NOW as being a great time to get into the housing market.   Call us for a list of homes that qualify or just check it out here.

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