More Financial Help for Truckee Locals

I am in the midst of working with a buyer who is attempting to purchase a mobile home in Truckee.  My client is a young man who is gainfully employed but has been out of work for some time, consequently has no savings in his bank account.  He would like to purchase a mobile home in a local park and since he doesn’t have any downpayment money, I went in search of some in the community.  Well, currently Truckee has a Downpayment Assistance program which is administrated by a very bright lady by the name of JoAnn Anders.   JoAnn is committed, by the way, to helping people attain homeownership who otherwise would not be able to qualify.

This downpayment assistance program is available to people who live and work in Truckee.  The assistance comes in the form of a “silent second” loan at 3%.  The payments and the principal are deferred until the borrower either sells the home, pays off the mortgage or the home becomes something other than his principal residence.

The surprising thing to me is that this program is available to those who want to purchase a mobile home in a mobile home park.  JoAnn told me that they have been successful with one borrower on a home in the Coachland Mobile Home Park.   If you are someone who thinks they can benefit from this opportunity — give us a call and we will supply the application and more information.

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