Home Buying in Walnut>Question Details

Lucy, Home Buyer in Los Angeles, CA

I am a first-time buyer, but haven't saved enough for a downpayment? is there any loan programs that can?

Asked by Lucy, Los Angeles, CA Fri Sep 12, 2008

help me to finance 97% of the house value? thanks

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8
David Dee’s answer
Hi Lucy,

Even under those circumstances you still may be able to qualify for a loan. I have a client who is in a similar situation as yours and we just got them a loan. We are currently in escrow now on a home that got accepted and will be closing by month end. Let me know if you need further assistance.

David Dee
Broker/Realtor
0 votes Thank Flag Link Mon Jan 5, 2009
I know of a loan program that can help first time homebuyers with the downpayment and it is not expiring anytime soon so, feel free to contact me and good luck to you.
0 votes Thank Flag Link Sun Sep 14, 2008
There are now but most will be going away October 1st. Talk to your real estate agent and mortgage loan officer immediately so that you can take advantage of these programs before they are gone. If you are a Veteran, there is no hurry as those programs will continue after October 1.
0 votes Thank Flag Link Sat Sep 13, 2008
Many 1st time homebuyers programs...... FHA is also a good program which I can fully explain...... and some options working with banks direct...... just let me know when you want to start
Web Reference: http://www.centuryside.com
0 votes Thank Flag Link Sat Sep 13, 2008
Lucy:

Depending on your credit, income, desired home location, employment etc. there are programs available from LA & surrounding cities, LA County, the state and even the federal govt that could help you out. Working with a Realtor and Lender who specialize in First Time Home Buyers will help you to identify which programs might work for you. Let me know how I can help and Dare to Dream.

Shel-lee Davis
Real Estate Consultant
RE/MAX Palos Verdes Realty
0 votes Thank Flag Link Fri Sep 12, 2008
In the current "new" market it is difficult to get a loan without a down payment, however, there may be state housing assistance program money available or "grant money" from local groups that may be able to help you with the down payment. There are usually earning limits and residency requirements to qualify. Not every agent will have an understanding of these programs so it is important for you to ask a local agent if they specialize in first time home buyer programs and have knowledge of local programs that you may qualify for.
GOOD LUCK!!
0 votes Thank Flag Link Fri Sep 12, 2008
Hi Lucy... Lender guidelines are very tight now. With that said, there are many down payment assistance programs still available to assist first time home buyers with their down payment. Congress just passed legislation prohibiting seller funded down payment assistance but your city may have some programs available to help you. Check with a mortgage broker in your area.

Yvonne Baker, Real Estate Consultant
http://www.YvonneBaker.com
ycbaker@kw.com
Web Reference: http://www.YvonneBaker.com
0 votes Thank Flag Link Fri Sep 12, 2008
Possibly FHA. How's you credit?
I can give you a mortgage pro's # if you would like.
Eileen Lanza
Keller Williams LA
0 votes Thank Flag Link Fri Sep 12, 2008
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