The first-time homebuyer downpayment assistance program at the Spring Creek subdivision in Truckee has been increased; funds now allow up to $72,000 for qualified buyers.
‘This is an incredible opportunity for those first time home buyers that find themselves priced out of the Truckee market. If a first time home buyer qualifies for the maximum $72,000, it can mean a lower mortgage payments and the elimination of mortgage insurance, which is often an added burden and expense to first time home buyers,’ says Karl Saimre of Truckee River Associates.
Buyers are required to be pre-qualified by a licensed mortgage broker and approved for the Building Equity & Growth In Neighborhoods (BEGIN) down payment program through the Town of Truckee. Spring Creek, located adjacent to the Alder Creek Middle School, consists of 66 total housing units including 30 duplex townhome models and 36 single family homes.
Open House hours are Monday through Friday, from 2 to 6 p.m., and Saturday/Sunday, from noon to 4 p.m. Contact Karl Saimre, 530-587-7633, karl@truckeeriverassociates.com.
