buy

 

Buying vs. Renting

Owning is more attainable than ever!

 

Think you don’t have the financial resources to buy a home? You might be surprised. With low fixed-rate mortgages, and with numerous financing options available, a beautiful new home at Prospector Village could be within your reach. With rent costs going up annually, owning a home means you can lock in your monthly housing expenses so you never have to worry about being able to afford a roof over your head.

 

You don't need $60,000 in the bank to purchase a home at Prospector Village!  Check out some of the numbers and financing options available.

Comparison of Conventional 97 vs. FHA for the Studio Model ($149,000)

FHA: Qualifying buyers can purchase their dream home with just 3.5% down plus closing costs and lock in a low fixed interest rate. Details: credit scores of 580 or higher qualify; must pay upfront mortgage insurance, but can be financed into loan; permanent mortgage insurance; must have a debt-to-income ratio of 50% or less; limited closing costs; loan is assumable; co-signer and gift funds are allowable.
 

Conventional 97: Qualifying buyers can purchase their dream home with just 3% down plus closing costs and lock in a low fixed interest rate.  Details: credit scores of 620 or higher qualify; no upfront mortgage insurance required; loan is not assumable; must purchase private mortgage insurance (PMI) and continue paying premiums until you have 78% equity in your loan; must have a debt-to-income ratio no more than 43%; co-signer and gift funds are allowable.


NO DOWN PAYMENT—NOT A PROBLEM!

 

Short on cash in the bank, but still able to make a monthly mortgage payment? VA and USDA loans make your dream a reality with zero-down financing.  Compare the cost of rent vs. ownership at Prospector Village.

 

Studio

Cost

$149,000

Comparable Rent

$1,000-$1,125/Month

Estimated Ownership Cost

$1,102/Month

1 Bedroom

Cost

$180,500

Comparable Rent

$1,100-$1,250/Month

Estimated Ownership Cost

$1,289/Month

2 Bedroom

Cost

$229,000

Comparable Rent

$1,600/Month

Estimated Ownership Cost

$1,580/Month

3 Bedroom

Cost

$299,000

Comparable Rent

$1,600-$2,000/Month

Estimated Ownership Cost

$1,999/Month

Pricing

 

How To Buy

State Income Limits for 2019/Nevada County, CA

Number of Persons in Household

Even though our homes are income restricted, buyers who don't meet the guidelines may still be able to purchase as long as the home's occupants are eligible. This is a great opportunity for nonprofits, businesses, corporations, and others to sponsor a needy or homeless family.  Monthly rent and tenants subject to HOA approval. 

 

Register today

Please fill out the form below as soon as possible to ensure your home selection. 

Waitlisted names will be added in the order they are received. 

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© 2020 by H.E.L.P. 

Contents of this website are intended for information only. All information (including but not limited to prices, availability, incentives, floor plans, site plans, features, standards and options, assessments and fees, planned amenities, programs, conceptual artist renderings, and community development plans) is not guaranteed and remains subject to change or delay without notice. Maps and plans are not to scale and all dimensions are approximate.

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