San Bernardino County’s First Time Buyer Program (HAP) has received funds!
For any of your buyers that have been pre-qualified with the HAP program, the County just announced they have money for their down payment assistance program. The amount of funds they have is limited and available on a first come first served basis.
The county receives their regular HAP funds every July. This year the HAP funds were depleted by September. Due to overwhelming demand, the county has interim funds available for use. These funds are normally used up very quickly, so any HAP borrowers should plan on taking action very quickly.
As a reminder, HAP funds can be reserved after the borrower has been pre-qualified with an approved loan officer and with an accepted and fully executed purchase contract.
**Borrowers should be encouraged to update their loan pre-qualifications because of the enormous number of changes which continue to occur in the mortgage industry that may affect what type of loan and how much of a sales price they qualify for**
For any of your buyers that have been pre-qualified with the HAP program, the County just announced they have money for their down payment assistance program. The amount of funds they have is limited and available on a first come first served basis.
The county receives their regular HAP funds every July. This year the HAP funds were depleted by September. Due to overwhelming demand, the county has interim funds available for use. These funds are normally used up very quickly, so any HAP borrowers should plan on taking action very quickly.
As a reminder, HAP funds can be reserved after the borrower has been pre-qualified with an approved loan officer and with an accepted and fully executed purchase contract.
**Borrowers should be encouraged to update their loan pre-qualifications because of the enormous number of changes which continue to occur in the mortgage industry that may affect what type of loan and how much of a sales price they qualify for**
