Lose your job, get 6 months mortgage backup
This program ended in 2009. Thank you for your interest.
At Montage we believe in doing everything we can to help first time buyers own their first home. And that means bringing our buyers programs that can help ease the transition into home ownership. One of these new programs is from The Housing Affordability Fund. This program is designed to provide peace of mind to first-time buyers who are hesitant to enter the housing market due to concerns about potential job loss, and subsequently being unable to meet their monthly mortgage obligations. Essentially it will back up your payments up to $1,500 for 6 months should you lose your job.
To qualify for the Mortgage Protection Program, you must:
- Be a first-time home buyer – someone who has not owned a home in the last three years.
- Open escrow April 2, 2009, or later, and close on or before Dec. 31, 2009.
- Use a California REALTOR® in the transaction .
- Purchase the property in California.
- Be a W-2 employee (cannot be self-employed) .
Here's some more information about the Mortgage Protection Program:
- Download the MPP Application
- The application must be submitted by an active California REALTOR® to apply.
- To make sure you qualify, review these MPP program samples.
- If you have more questions, review the FAQs.
As prices have come down, owning a new Montage home can cost the same as renting. And with tax benefits it may actually be less expensive. Make 2008 the year you begin building wealth by owning your own home. It begins with a visit to River Road Village.
