First-time Homebuyer Mortgage Protection

Are you a FIRST-TIME homebuyer? APPLY FOR THE MORTGAGE PROTECTION PROGRAM! This is a FREE program that provides qualified first-time buyer up to $1,500 a month for up to six months in the event of job loss to help pay the mortgage; a $750 monthly benefit also is available for a qualified co-buyer. There is NO cost to you!

To qualify, buyers must be first time homebuyers – haven’t owned a home for the last three years; has opened escrow on or after April 2, 2009 and closed escrow before December 31, 2009; use an active California REALTOR® ; purchase the property in California, and be a W-2 employee (cannot be self-employed). Click here for a copy of the application and program information.

SOURCE: California Association of Realtors