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Community Mortgages in Dixon
Dixon sits between Sacramento and the Bay Area, making affordable homeownership possible for families priced out of nearby metros. Community mortgage programs here fill gaps that conventional and FHA loans miss.
These specialized programs target first-time buyers, lower-income households, and buyers in areas banks historically underserved. Dixon qualifies for multiple community lending initiatives through Solano County partnerships.
Most community mortgages require 580-640 credit scores, lower than conventional minimums. Income limits vary by program but typically cap at 80-120% of area median income for Solano County.
Down payments start at 3%, often with seller concessions or grant programs stacking on top. Debt-to-income ratios stretch to 50% on some programs—critical for Dixon buyers with student loans or childcare costs.
Not every lender offers community mortgage programs. You need originators with relationships to housing finance agencies and community development financial institutions.
We access 200+ wholesale lenders, including specialty shops that fund programs local banks won't touch. Many Dixon buyers don't know they qualify until a broker runs their profile against these niche lenders.
Community mortgages often combine with down payment assistance—sometimes $15,000-$25,000 in grants or forgivable loans. Stacking programs requires knowing which ones allow layering and which conflict.
I've closed Dixon deals where buyers brought 1% to closing after grants, but it took three lender calls to find one who'd approve the structure. This isn't a loan type you shop on Zillow.
FHA loans accept 580 credit, but require 3.5% down plus mortgage insurance that never drops off. Community mortgages often hit 3% down with lower ongoing costs if your income qualifies.
USDA loans work in parts of Dixon but add income verification delays and property eligibility hoops. Community programs move faster and cover more property types, including older homes needing minor repairs.
Dixon's older housing stock—homes from the 1970s-1990s—sometimes fails conventional appraisals for minor issues. Community lenders accept properties with deferred maintenance that bigger banks won't finance.
Solano County runs homebuyer education requirements for some programs, typically 6-8 hour courses. Complete this before you shop to avoid closing delays when you find the right property.
Limits vary by program but typically range from 80-120% of Solano County's area median income. A broker matches your income to qualifying programs.
Yes, many Dixon buyers stack grants or forgivable loans on top of community mortgages. Some programs require specific lender approval for layering.
Expect 30-45 days, slightly longer than conventional loans. Extra time covers income verification and program compliance reviews.
Depends on the program and down payment amount. Some require MI, others don't—your broker compares total cost across options.
Most single-family homes, condos, and townhomes work. Programs accept older properties conventional lenders reject for minor condition issues.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.