Financing in Los Angeles>Question Details

Rn11, Home Buyer in Downey, CA

Are there any 1st time home buyers program for nurses, with very low closing cost.?

Asked by Rn11, Downey, CA Sun Mar 11, 2012

Help the community by answering this question:


Jane Peters’ answer
Broadview Mortgage in Orange County had a program for healthcare workers. These are the highlights:

Here are some of the program’s highlights:

Fixed origination fee…the maximum origination charged is only 1%
Fixed lender fees…the maximum lender fee is $350.00. This includes our underwriting and processing fee!
The rates are based on the CalSTRS daily rate and there can be no lender manipulation just like the CalSTRS program. What you see is what you get.
One time free float down during escrow. This means if you are locked at 5.5% but the rate goes to 5.25%, you get the lower rate for free with just a phone call to Broadview’s lock department.
Low down payment….only 3. 5%….just like FHA.
Minimum FICO score is 620.
This is a 30-year fixed mortgage.
No first-time homebuyer requirement.

You should contact them at and see if they are still offering this.
Web Reference:
1 vote Thank Flag Link Mon Mar 12, 2012
Thank you for the above information. I had a hard time finding a program for nurses.
Flag Fri Mar 16, 2012
To be certain, I would contact a local lender. Preferably one that comes highly recommended by your realtor.
0 votes Thank Flag Link Thu Mar 15, 2012

I'll be glad to help you.We have very knowledgeable lenders in our office.
Please call me at (909)731-7124 or email me
Thank you.
Ludy Ivonina
0 votes Thank Flag Link Thu Mar 15, 2012
Hi Rn11

Congratulations on your decision to buy a home. I work a lot with first time home buyers, giving them the tools and the time they need to familiarize with the buying process, the steps ahead and what to expect.

If you want, I'm happy to send you referrals for reputable lenders and you can see what they will suggest to you based on the information they will gather from you. This is with no obligation on you of course, but since you're asking about loans I can give you their contact info and you're free to shop around :)

Web Reference:
0 votes Thank Flag Link Tue Mar 13, 2012
Our advice is to not go with an FHA loan if you are a first time buyer.

Place 5% down and use this new program.
Consider what my staff has been advising clients, and look into the "FIRST-TIME HOMEBUYER'S" loan program. Our staff has reported great testimonies in regard.
Below is an email we sent to various clients we are working with:

Notice to first time home Buyers serving the following states: Florida, Alabama, Texas, California, Arizona, New Mexico, and Colorado.

Here are the highlights of this unmatched program that our agents have had success with closing deals and saving our clients a lot of money.
1. NO Mortgage Insurance
2. Only 5% down
3. 30 year fixed rate (4.375% estimated)
4. NO payment until the 5th month after closing.
5. NO origination fee, NO points, and NO junk fees !
6. single family home or townhome eligible
7. 680 credit score
** It is truly remarkable, and is certainly a way this bank (BBVA-Compass) has demonstrated giving back to the communities it serves.

The Sr. Mortgage Banker that my staff in these area's is using is

Tom R. Callahan

Take full advantage of this program and save yourself a lot of money by not having the FHA MIP.

Good luck shopping for the right home. - TJ
0 votes Thank Flag Link Tue Mar 13, 2012
I have not heard of any for nurses, but I know that there are several programs for Doctors, I bet they would let you in on that if you ask.
0 votes Thank Flag Link Mon Mar 12, 2012
I'll be glad to help you with. We have very knowledgeable team of lenders at our office.
Please give me a call at (909)731-7124 or email me at

Thank you.
Ludy Ivonina
0 votes Thank Flag Link Mon Mar 12, 2012
The best thing for you to do is consult the Human Resources Dept. at your place of work. They might be able to give you the right information.

Good luck,

0 votes Thank Flag Link Mon Mar 12, 2012
there are programs available for first0time home buyers and for certain categories of public service workers (not necesarily referring to governmental employees, but rather to those performing certain work in the public interest), such as health care and law enforcement professionals, teachers, etc. to give back a little to those who give so much to the rest of us.

i would be glad to refer you to a reputable loan broker who i believe could give you the best program that's right for you.


Unique Homes for Unique Individuals
phone: (310) 440-0523
fax: (310) 440-0524
DRE # 00634746
0 votes Thank Flag Link Mon Mar 12, 2012
Hello RN11,

Check this website out for some information. I will see if I can find anything out tomorrow.

Hope you have a great week. Feel free to contact me if you have any questions.

Jairo Arreola
Web Reference:
0 votes Thank Flag Link Sun Mar 11, 2012
Hello RN11,
There are no specific programs for RN's, but there are a few different programs for 1st home buyers. Please feel free to call or email me directly and we can also discuss the options regarding closing cost.
DJ Bonner
Keller Williams Realty
0 votes Thank Flag Link Sun Mar 11, 2012
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