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> 'cept with the zero interest and the discharges Lol, that's the main reason we are balking at it. It's basically a free cash handout. The article doesn't e
by mrep 4y ago
> 'cept with the zero interest and the discharges
Lol, that's the main reason we are balking at it. It's basically a free cash handout. The article doesn't even say it has to be a first home so you could probably take advantage of it and move every 5 years and get what is effectively a free years wage paid for by uncle sam.
- genocidicbunny 4y agoThe program does require you to be a first-time homebuyer, so presumably you can only get this once: https://www.calhfa.ca.gov/homebuyer/programs/forgivable.htm https://www.calhfa.ca.gov/homebuyer/programs/forgivable.htm
- mrep 4y agoGood find. Still crazy to me.
- prepend 4y agoThe definition of first time home buyer [0] is someone who hasn’t owned a home for the past three years. So one could repeat this cycle every 8 years, not every 5. [0] https://www.calhfa.ca.gov/homebuyer/borrower.htm#first-time https://www.calhfa.ca.gov/homebuyer/borrower.htm#first-time
- genocidicbunny 4y agoYes, with the caveat that after 5 years you would have to sell your home and then rent for the next 3 to qualify again.
- prepend 4y agoExactly. You’d sell your california house making gains from 5 years. Rent for three years and then get 10% back. I think you’d make more money just holding onto the house as I think the appreciation over three years would be higher than the 10% loan.