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How do special mortgages work for 1st time home buyers?

Asked by Trulia San Francisco, San Francisco, CA Wed Oct 24, 2012

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Hello,

There are a lot of programs out there. Besides FHA loans at 3.5% down payment, there is another product I have that can allow you to go 5% down payment on a conventional loan with no mortgage insurance. You have to qualify either by meeting income guidelines or the property itself qualifies, but it's a great product for a first time home buyer. Let me know if you would like to talk about further programs and rates.

Have a great day.

Michael Abram
RPM Los Angeles
Cell: (310) 995-0975
mabram@rpm-mtg.com
http://www.rpm-mtg.com/mabram
1 vote Thank Flag Link Wed Oct 24, 2012
There are many programs out there. In fact, there are also First Time Buyer programs via the Mayor's office. I would go to http://www.sfgov.org for the Mayor's information. And I would check with a mortgage broker for all of the programs out there. Or contact Ephraim Schartz, Odette Mortgage Group, 415-931-2129, ephraim@omglenders.com. You can also go to my website http://www.sallyrosenman.com and look under Resources for many other Mortgage Brokers. They are the best ones to advise you. We realtors do not have our hands on every program out there......

Good luck,

Sally
0 votes Thank Flag Link Wed Oct 24, 2012
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