Housing Watch: Assistance with closing costs for first time buyers in Merced County
In this week’s Housing Watch, Action News takes a look at a local program helping families realize a dream. Tuesday, December 3, 2024 7:23AM High home prices and interest rates have kept many first-time buyers from getting their own house. MERCED COUNTY, Calif. (KFSN) — High home prices and interest rates have kept many first-time buyers from getting their own house. The assistance several North Valley families received to help with closing costs made all the difference in being able to afford a home they could call their own. “The American dream is to own a home. Everybody deserves that American dream,” said Syreeta Bolton, an executive of the Merced County Association of Realtors. The association has established a housing affordability fund for families that need some help finalizing the deal. “We pay up to $7,200 in closing costs and this year we’ve helped 8 families and we’ve actually given out $54,000,” said realtor Necola Adams. For this particular program, applicants must live in Merced County They must also qualify under federal guidelines for HUD. In this case, a family of four could make up