In Less Than 24 Hours ALL CASH Will Be Wiped Out Of The California Dream! | Ron Yates
In Less Than 24 Hours ALL CASH Will Be Wiped Out Of The California Dream! | Ron Yates
The California Housing Finance Agency has paused its new $300 million down payment assistance program, the Dream for All Shared Appreciation Loan, after all funds were allocated to participating homebuyers as early as Monday.
The program had gone live on March 27 and was intended to assist first-time homebuyers put down payments on a house with interest-free loans that can also be used to cover closing costs.
Silicon Valley Bank’s risky practices were on the Federal Reserve’s radar for more than a year — an awareness that proved insufficient to stop the bank’s collapse.
Some bank account holders have gotten concerned in recent days, moving cash from smaller banks with increased interest rates, to larger banks like JP Morgan Chase, Bank of America and Wells Fargo.
The CalHFA funding appears to have been exhausted quickly, leaving some people expressing frustration at the speed at which the program's funding was depleted.
The program will provide an estimated 2,300 low- and moderate-income Californians with a 20% down payment loan free of interest, but it is not without a catch.
Borrowers must eventually repay the down payment assistance loan to the state, and the loan is a shared appreciation loan, which means that borrowers must pay back a percentage of the home's growth in value when they pay back the state's loan.
The median sale price of a home in Orange County was $977K last month, down 5.6% since last year.
There are ways to invest in real estate without owning physical property, including REITs and real estate platforms. Instead of investing in individual REITs, investors can choose a more diversified approach by investing in a real estate ETF or mutual fund that holds shares of multiple REITs.
This way, investors can gain exposure to a wide range of real estate investments.
Vanguard Real Estate ETF (ticker: VNQ) VanEck Mortgage REIT Income ETF (MORT), Charles Schwab U.S. REIT ETF (SCHH), Real Estate Select Sector SPDR Fund (XLRE)
