Down payment requirements are usually higher for foreign national borrowers.
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In addition to funding affordable housing construction, the fund provides down payment assistance loans of up to 10% of the cost of a home to home buyers who work in Napa County and earn less than 120% of the area median income.
Buyers, however, should not use all of their savings for the down payment, thus depriving themselves of any reserve to fall back on if extraordinary expenses arise or income falls in the future.
He's made a down payment on the blueprints to a bank at Los Angeles International Airport, but needs to raise $45,000 to complete the purchase.
Prior to creating Marco Island the brothers had been involved with General Development Corporation a business that ran a "buy Florida" campaign offering "The Florida Dream" for a $10 down payment followed by $10/month.