Googain HomeRun
Googain HomeRun is a community reinvestment program that offers a below-market interest rate—comparable to or even lower than FHA loans—and currently about 0.7% lower than the national average for a 30-year fixed-rate mortgage reported by Mortgage News Daily.
But it gets even better: no mortgage insurance is required, even with as little as 3% down.
There are two ways to qualify for the program—by the property’s census tract or by household income:
- If you’re buying a primary residence in a low-to-moderate income census tract and do not own any other residential property at closing, there is no income limit. Yes, you read that right—no upper income cap.
- If the property is outside those designated areas, moderate- to low-income families may still qualify based on income.
Before you make an offer, reach out to me with the property address, and I’ll help check eligibility. You could secure a better rate and potentially save hundreds of dollars each month.
Googain Homerun programs covers the following counties in California:
- Alameda
- Contra Costa
- Fresno
- Kern
- Kings
- Los Angeles
- Marin
- Orange
- Riverside
- Sacramento
- San Diego
- San Bernardino
- San Francisco
- San Mateo
- Santa Clara
- Stanislaus
- Ventura
Property Eligibility
You can follow these simple steps to check if a property is eligible for the Googain Homerun program:
- Confirm the property is located in one of the eligible counties.
- Visit the FFIEC (Federal Financial Institutions Examination Council) website.
- Select the year 2024
- Enter the property address and click the “Search” button.
- Click on “Census Demographic Data“.
- Check the “Track Income Level“. To qualify, it must be listed as Moderate or Low.
- To confirm, text Degang Cheng at 510-516-8551
Degang Cheng, PhD
Loan Officer
NMLS: 2464860
Googain Inc.
NMLS: 275975
1288 Kifer Rd STE 208, Sunnyvale, CA 94086
Email: DegangCheng@googain.com
Cell Phone: 510-516-8551