For First Time Buyers

If you are currently looking for a home and either do not have enough money for a downpayment and closing costs, or perhaps don’t want to liquidate financial assets to use as a downpayment, there are loan programs here in California through CalHFA that may be available to you that can get you into a home for little or no money down. If you are buying a home for the first time, or have been a home owner in the past and have been renting for the last 3 years, it is possible to buy a home with no money out of your pocket. The programs that are available can help YOU realize your dream of homeownership with 0% down loans, as well programs to provide downpayment and/or the closing cost assistance.

First, in order to receive approved credit you will need to have a strong credit history, a stable employment history, limited liabilities, and the financial ability to make the monthly payments.

Second, it is important to note that you can purchase different types of homes with these programs, including detached and attached single family homes, and condominiums. Pricing in some communities may limit purchases to condos or attached homes and twinhomes, and not all communities will have housing that fit the financial parameters of these programs.

If you qualify, a % down will alow you to purchase a home without a downpayment. The downpayment and closing cost assistance programs can provide you with a second or third loan to a maximum of around 3% of the purchase price (there are price guidelines for low and moderate income individuals and families) that is used to cover the cost of a downpayment and/or your closing costs. While these loans charge interest, you do not make payments on these particular secondary loans until you sell the house.

Call my TOLL FREE INFOLINE at 800-364-5719 and enter ID# 5032 to learn more about these programs. To obtain your FREE report, please PRESS 2 to leave a message with a valid email address and the report will be sent to you promptly. Or, if you prefer, you may leave a mailing address and the report will be mailed to you by the next day. Please make sure you spell any uncommon names and addresses, and speak slowly and clearly. Don’t miss out on this opportunity to buy a new home in the San Diego market.

And check out another blog of mine dedicated to First Time Home Buyers!