Here is some of their basic information:
The California Housing Finance Agency (CalHFA) is making homeownership affordable for first-time homebuyers in California. If you haven't owned a home in which you have occupied for the past three years, you could qualify for this program.
When the CalHFA program is combined with a Federal Housing Administration (FHA) loan you can receive a low-cost, fixed-rate mortgage to help make homeownership affordable and sustainable.
With the CalHFA FHA loan, plus down payment assistance from the California Homebuyer's Down Payment Assistance Program (CHDAP), you only have to bring one percent of the sales price in buyer contribution.
With the CalHFA FHA loan, you benefit from:
Only 1% of the sales price buyer contribution required
Stability of a below-market 30-year fixed-rate loan
3% junior lien can be used for down payment and/or closing costs
Discounted interest rate even for lower credit scores
99% loan to value (with CHDAP junior lien)
If you own, sell now so you can actually keep some of that funny money that appeared out of thin air. Otherwise, it will be painful to watch it vaporize back into thin air. Investors in mortgage-backed bonds subsidized the increase in the price of your house. Now they want their money back, and your challenge is to prevent them from getting it. The only way is to sell before your neighbors do. Time is not on your side.
If you can't sell without a loss, it's probably best to just walk away and free yourself from mortgage slavery. It depends on whether your loan was "recourse" or "non-recourse". In the latter case, the deal is simply that you can stop paying the loan and give back the house at any time. It's perfectly legal and moral according to the terms of the mortgage. Now that the government has temporarily stopped taxing forgiven debt, you can do it without owing anything! But talk to a lawer and accountant first.
If you want to buy, look around and see that house prices are falling. Why hurry to buy into a falling market? Time is on your side. Save your cash and buy for much less in the future. The way to win the game is to have cash on hand when others cannot get a loan. You do not want to be bidding your hard-earned savings against people who are bankrupting themselves with debt. It will be time to buy when lenders once again demand a 20% downpayment from everyone and get serious about checking ability to repay. You'll know prices are reasonable when it's cheaper to own than to rent. We're not there yet, not even close. Find a nice cheap rental, invest your savings every month, and enjoy the show till then.
Feel free to contact me if you would like some help locating financing. We deal with clients all across America. I specialize in purchase deals and can make the financing process pretty painless.
Office: (954)764-7064 (ext 211)
Toll Free: (866)230-9050 (ext 211)
We are a Loan broker company. The way we are set up, in some cases we can compete with the banks to place your loan and can probably do it for less than a bank can do it. As a loan broker we are licensed by the Department of Corporations with a Finance Lenders / Brokers license. We also are licenced by the Department of Real Estate. If you are interested in hearing more, please call Ferris Financial Group, Inc., Jack Ferris at 925-858-2879 so we can discuss with you what we can or cannot do.
Licenses and Certificates Held:
California Real Estate Brokers License
California Real Estate Officers License
Department of Corporations Lenders and Broker License
State of California Occupational License
Salesperson License for Manufactured Homes
Manufactured Home Dealers License
CAL VET Loan Certification
Here is our contact information if I can answer any more questions:
Ferris Financial Group, Inc.
If you have not already established a lending relationship, I would suggest speaking with Kelly @ MMC Lending out of Palmdale, her number is (661) 949-2002 or via e-mail at: email@example.com
She will sit down with you and do a very comprehensive review of your current financial situation and assist you in obtaining a loan that will be beneficial to you. NOW is a great time to purchase. Between now and 7/1/09 if you are a first time homebuyer (you have not owned a home within the last 3 years) you could qualify for a $7,500 1st time homebuyer tax rebate. Kelly will be able to explain exactly how that would work for you and she will gear the payment plan to your current debt to income ratio.
If I can be of further assistance, please feel free to contact me via the web at http://www.TamaraStoebe.com or by cell (661) 466-6849.
Tamara Stoebe, REALTORÂ®, QSCÂ®
Troth REALTORSÂ® GMAC Real Estate
1801 W. Ave. K
Lancaster, CA 93534
Cell: (661) 466-6849
Fax: (661) 422-3006
If you'd like to know what first-time buyer programs you qualify for, please call or email me. I can read you off a list of every one in your area and we can go over the qualifications for each. You may be able to use more than one together.
I would suggest to go with a local Mortgage Broker that is able to offer all the possible loan products. I am in the San Fernando Valley and can offer all products. I would suggest to visit my blog to learn a little more about products and home buying process.
my contact info is
direct line 818 749 6858
There are some interesting loan programs for first time home buyers across the state of CA. There is down payment assitance available at the city, county and state levels that I work with. With can structure these programs with a FHA loan or VA loan. I work with many first time home buyers across the state and I'm very familary with all the programs.
Sr. Loan Officer