Home Buying in San Mateo>Question Details

Victor Espin…, Home Buyer in Pittsburgh, PA

Anyone know of any Down payment assistance program for peninsula side in bay area California. First time home buyers.

Asked by Victor Espinoza, Pittsburgh, PA Tue Apr 2, 2013

Hi I am looking to buy a home and put as little as possible to put down is there any dpa programs ou there. My wife and I will be the buyers I have 625 score and she has 720. We both make together about 77K a year and only have a car loan for 22K can anyone help me.

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Sheryl Arndt’s answer
Hello Victor, you may qualify FHA 3.5% down or as low as .5% half percent down payment programs from a minimum 580 or 640 fico score to qualify for Access or CHDAP. It only takes a few dozen questions to qualify in minutes and go over your credit and options. Credit scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

Here is a blog of the loan programs to overcome those hurdles.
http://www.trulia.com/blog/under640ficoscoreloans/2012/12/ar…

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
20+ Years Experience
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9am till 7pm Monday thru Saturday, Sundays by appt.
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0 votes Thank Flag Link Tue Dec 10, 2013
Victor,
Here is the link to the San Mateo County Heart loan Program.
it requires only 5% down. It is the best program going. Not well known. Only one lender can do it.
http://www.heartofsmc.org/programs/homebuyer-assistance/
I will say as a low down payment buyer you will have to be very persistent in finding a home where the seller will accept your offer. I just got one accepted after 3 tries.
Once you get approved please give me a call at 877-Lee-Sells (877-533-7355) http://www.leesellsmore.com
Good Luck
0 votes Thank Flag Link Tue May 28, 2013
Hi Victor,
here is more helpful info
http://www.trulia.com/voices/Home_Buying/IS_THERE_ANY_DOWN_P…

good luck!
$$$BUYER CASH REBATE 50%-60% / SELLER DISCOUNT 50%$$$

Flavio Tejada, MBA-Finance, Realtor, Broker/Owner
(415) 305-2958
Web Reference: http://americarealtyonline.com/
0 votes Thank Flag Link Thu Apr 4, 2013
Hi Victor,
San Mateo County is offering Buyer's an opportunity through their HEARTS program. Look into it, I think it may help you get you foot in the door.

Regards,
Michael
0 votes Thank Flag Link Tue Apr 2, 2013
Check out "rural development loans". It's kinda like a VA or FHA, but even more difficult to get, but they do provide down payment assistance among many other things. It may only work along the coast or in the La Honda area though, due to the sheer demand in the entry level market everywhere else.

David
0 votes Thank Flag Link Tue Apr 2, 2013
Check the first time home buying programs on San Mateo County Department of Housing website http://www.co.sanmateo.ca.us/portal/site/housingdepartment

Cheers
0 votes Thank Flag Link Tue Apr 2, 2013
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