Home Buying in Murrieta>Question Details

alyssa92011, Home Buyer in Murrieta, CA

First Time Home Buyer

Asked by alyssa92011, Murrieta, CA Sun May 13, 2012

Hi I was wondering what programs are available for first time home buyers
I wanted to buy in Temecula or Murrieta
Also I was wondering if it's worth getting an FHA or save for the 20 percent down
how much would you pay in PMI if a house is worth 180k?

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Answers

4
Find a reputable mortgage broker and your area to go over your options. Make sure they come highly recomended the lending process has gotten very tough!
0 votes Thank Flag Link Thu Aug 16, 2012
Hello Alyssa, congrats on deciding to jump off the fence and deciding to buy. I know a great lender that can explain what all of your options are. He's helped many of my client's with financing and is very knowledgeable with down payment assistance programs.

Also, the housing market in Temecula and Murrieta is extremely competitive right now. Inventory is low so there are multiple offers on homes. You can read my Housing Market Report here: http://www.livetemeculavalley.com/home-buying/murrieta-housi…

Please let me know if I can answer any other questions you may have or help you with the home buying process.

All the best!
0 votes Thank Flag Link Mon May 14, 2012
If you have 20% down go ahead but also check if your area is approved for a USDA loan. Its a great product. Good luck ,seems as if you have your ducks in a row.
0 votes Thank Flag Link Mon May 14, 2012
I can refer you to a loan product run by a HUD certified loan counseling agency that is NOT for profit. They will Not charge you a commission, you will Not pay a down payment, there is NO closing costs, No PMI, No loan fees of any kind. They only ask that you do Not own any other property when you close your loan. You do NOT need perfect credit. The loan is a conventional mortgage. The agency will protect you from default for the life of the loan if you ever experience hardship. I have referred 38 families to this program and I am closing my first sale in the program with my buyer at the end of this month. The interest rate is currently 3.5% and if you ask the seller for closing cost the agency will apply those funds to buy down you rate. You can buy your interest rate down to 0% if you choose.
If you are interested in a referral just email me at: bevsre@yahoo.com
Bev Sherratt, Realtor SFR
Homesmart
41463 Margarita Road Suite 100
Temecula, CA 92591
USA
951-285-9044
EM bevsre@yahoo.com
CA DRE 01490950
0 votes Thank Flag Link Sun May 13, 2012
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