Press Release
Contact:818-340-5300
For Immediate Release
Thursday, Sept 13, 2011

 

Why pay rent when you can now afford to buy a home under the W.I.S.H. program?

***
There is a mortgage subsidy loan program to help first time home buyers come up with a down payment or
 closing costs on their dream home,” said Real Estate Broker Bonnie Aletaha

 

Los Angeles, CA, — Renting a two or three bedroom house in Southern California will cost you about the same each month as 

buying an affordable home in SoCal, $1,500 - $2,500 per month.
 
“There is a mortgage subsidy loan program to help first time home buyers come up with a down payment or closing costs on their 

dream home,” said Real Estate Broker Bonnie Aletaha, Woodland Hills, CA. 

“W.I.S.H. matches your dollar three to one for a down payment or closing costs.”
 
For example:  The buyer contributes $3,000 to transaction, W.l.S.H. will contribute $9,000 to use towards down payment or closing costs.

“This is one of the largest obstacles for renters who want to buy a home, they have difficulty coming up with the closing costs or down payment.

 In reality, if you consider leasing or renting a home you often have to come up with first and last month’s rent and a deposit.”
 
“The W.I.S.H. program is designed for first time buyers, which is someone who has not owned real estate in the past three years,” said said Real Estate 

Broker Bonnie Aletaha.

“The bank will match three times what the buyer puts in up to $15,000.  For example: “Let’s say you’re buying a property and you need $16,000 for down payment and closing costs to close the escrow. The buyer comes up with $4,000; the bank will match it with three times the amount or $12,000 so you have $16,000 to close your transaction,” she said.
 
For more info about the W.I.S.H. Guidelines visit: SoCalRealEstateGroup.org.
 
“Cash is hard to come by right now,” said Aletaha and if I can get you into a home with $4,000, you now have home ownership, a tax write-off and 

you’re paying the same as your rent, isn’t that great?” 
 
There is a limited amount of funds allocated for this program at approved lenders, explained Aletaha.
 “Right now is a great time to buy a home with low interest rates, and it is a buyer’s market,” said Real Estate Broker Bonnie Aletaha. “So time is of the essence.” Workforce Initiative Subsidy for Homeownership (WISH program) The WISH program provides matching grants to qualified first time homebuyers.
 
  • Only bank members may submit applications

  • The household income of the homebuyer at the time of enrollment in the
    WISH program is 80 percent or less of the HUD area mediam income

  • Participants must complete a homebuyer counseling program

  • Under the WISH Program, the bank will provide up to $15,000 per household,
    matching up to $3 for every dollar contributed by the homebuyer toward the
    purchase of the home

  • The WISH Program can complement or supplement a variety of state, local
    and federal homewonership programs. They include CalHFA, NSP and FHA.

For information and media interviews with Real Estate Broker Bonnie Aletaha, Woodland Hills

call MAYO Communications, 818-340-5300 or 818-618-9226.

               
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[For media interviews contact: MAYO Communications, Publicity@MAYOCommunications.com
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