Question 1

Do I have to be a first-time buyer for community mortgages in Orange?

Accepted Answer

Most programs prefer first-time buyers but allow previous owners who haven't owned in three years. Some Orange County programs have no ownership restrictions.

Question 2

What's the income limit for community mortgage programs here?

Accepted Answer

Limits vary by program but typically cap at 80-120% of Orange County area median income. That's roughly $90K-$135K for a household of four.

Question 3

Can I use community mortgages for condos in Orange?

Accepted Answer

Yes, if the HOA is approved by the program's insurer. We verify condo eligibility before you make an offer to avoid delays.

Question 4

How much down payment assistance is available?

Accepted Answer

Ranges from 3-6% of purchase price depending on program. Some grants don't require repayment, others use deferred second liens.

Question 5

Are community mortgage rates higher than conventional?

Accepted Answer

Usually comparable, sometimes lower. Rates vary by borrower profile and market conditions. We compare both to find your best option.

Community Mortgages in Orange: Programs Built for First-Time and Moderate-Income Buyers