California’s Plumas Association of Realtors announced that its Housing Affordability Fund program provided financial assistance to 24 local residents who bought homes this past year.
According to the 156-member association, more than $39,000 was distributed among first-time homeowners, with $30,000 coming from the grant program run by the California Association of Realtors last year and an additional match of $9,000 came from the local realtor community.
The program was aimed at homebuyers across Plumas and Sierra counties who purchased residential property costing under $550,000 with the help of a realtor. Each grant from the association paid for half the applicant’s first full year of homeowners insurance premium, which included fire insurance. The average amount of funds distributed on a first-come, first-served basis was roughly $1,625 per applicant.
“The reality is that skyrocketing fire premiums have become a formidable barrier for many working families, often turning what should be an exciting milestone into a source of significant financial anxiety,” said Teryn Wilson, a schoolteacher who purchased a home in Chester. “For first-time buyers like us, these escalating costs can make the difference between affording a mortgage and being priced out of the market entirely. This reimbursement helps ease the transition into homeownership and allows us to focus on building a life here rather than stressing over rising premiums.”
0 Comments