City of Redding Homebuyer Program-New DAP Details, REO Incentive
First Time Buyers
June 17th, 2009
The City of Redding DAP or Down Payment Assistance Program for First Time Home Buyers has had some recent changes with a couple of really exciting options being rolled out. For one thing, it’s no longer called DAP. The new name for the First Time Home Buyer program is “The City of Redding Homebuyer Program”. Income and loan guidelines have been modified from previous DAP program but still very similar.
We are really excited about the new Homebuyer Incentive Program (HIP) that targets Bank Owned REO properties being purchased by First Time Home Buyers. The HIP program starts July 1st and consists of a $2,500 grant to be used in conjunction with the Homebuyer Program loan. As so many of the First Time Buyers we work with are purchasing REO properties we see this as a huge benefit!
Combine the City of Redding Homebuyer Program with the Homebuyer Incentive Program grant and the $8,000 First Time Buyer federal tax credit and you have a win-win-win situation for First Time Buyers.
