Thursday, February 23, 2006

40-Year Loan Has No Money Down; State Stretches Its Mortgage Assistance to Help First-Time Home Buyers Qualify

In many ways the house for sale on Misty Morning Circle near Mather Airport is a typical Sacramento home: Three-bedroom, two-and-a-half bath, 1,450 square feet with a backyard. Asking price: $355,000 - just above the countywide median of $352,500 in January. Today, first-time buyers trying to stretch financially to purchase that house with a 40-year mortgage - instead of the standard 30-year loan ...


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