Oceans >City can use development costs for loans

Oceans >City can use development costs for loans

OCEANSIDE, Calif. (KGTV) – The Oceanside City Council simply offered initial approval to a plan that could make use of town development charges in an effort to offer homebuyers assistance with their down re payments.

City Councilman Christopher Rodriguez offered the basic concept, speedy cash rates which he calls the low-cost Market Purchase Program (AMPP).

“It is a win-win,” states Rodriguez. “and it is the quickest means, for me, to making house ownership.”

Beneath the plan, people could borrow as much as 20% of the house’s price tag through the city. But, it could simply be applied to single-family homes as much as $600,000 or multi-family devices (townhomes and condos) as much as $450,000. Continue reading