Home Buying in 92782>Question Details

Joe Cohen, Home Buyer in Tustin, CA

My wife and I are a first time home buyer. Are there any incentives in Orange County?

Asked by Joe Cohen, Tustin, CA Wed Mar 14, 2012

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Angie Pham’s answer
Hi Joe,
As a first time hone buyer, there are 2 free grant programs that you might qualify for up to $15,000.00 with only 3.5% down. Please call or email me for more information.
Angie Pham
949-232-6555
atbroker@sbcglobal.net
0 votes Thank Flag Link Fri Mar 8, 2013
Hi Joe,

There are numerous first time Home Buyer Programs. I have a quick video on my website explaining these in detail at: http://excellenceduo.com/2011/california-homebuyer-down-paym…

If you are looking to buy in Tustin as well I have a nice condo for sale in an excellent area. See more about this property here: http://excellenceduo.com/2011/2960-champion-way-unit-604-tus…

If you have any questions please give me a call at 949-891-0088.

Hope this info helps you out!

Jonathon Villaescusa
Excellence Real Estate
Operating Principal/Realtor
Web Reference: http://ExcellenceDuo.com
1 vote Thank Flag Link Wed Mar 14, 2012
Hi Joe,

Yes, there are incentives... Beside the owner/bank giving an incentive some cities also give an incentive for first time home buyer and HUD Homepath homes, buyers credit towards your closing costs. Would need to know what cities you are interested in looking at. I have a lender that also works with the cities and some programs for first time home buyer credits. Call or email me to get started...
Did you know: Licensed real estate agents are not allowed by law to give out a commision to a non licensed agent. Agents who are so willing to give up their hard earned monies, I would be weary of on how they would protect your best interest..

Ingrid Ski Realtor
949-874-0432
OCAreaHomes@gmail.com
1 vote Thank Flag Link Wed Mar 14, 2012
Hey Joe,

Great choice on wanting to purchase a home, If you are looking for someone that can give you the best loan program and best rate, look no further. I can get you into a great loan with low down payment, and approval in less then 2 days.

Give me a call when you get a chance.

Jovan Simon
Account Manager
In House Lender
714-619-3172
0 votes Thank Flag Link Wed May 23, 2012
This is the best time to buy a home, interest rates are low as well as prices...Congratulations!!!.
Now regarding your question, lenders and banks sometimes will offer assistance, as well as the cities. Now the assistance that cities provide is not there permanently, they get allocated a certain amount of money every fiscal year but sometimes they run out the money to assist first time home buyers (Check with the city in the area you would like to purchase your home). Cities have grants, loans and other down payment assistace to help you buy a home. I wish you luck and let me know if you have any further questions.
0 votes Thank Flag Link Sun Mar 25, 2012
Hello Joe,

Congrats on deciding to buy a home of your own.

The California Housing Finance Agency provides help for firt time buyers in the form of low interest rate loans and down payment assistacne programs.

Please visit their website for complet details on their programs.
http://www.calhfa.ca.gov/homeownership

Best of success to you!!!

Kawain Payen, Realtor




u
0 votes Thank Flag Link Sat Mar 24, 2012
I know a lot of agents don’t approve of my business model and many negative things have been said about it here on Trulia. I try not to throw stones but a certain agent has, on multiple occasions, totally misrepresented the facts and I’d like to set the record straight.

This question asks if there are any incentives in Orange County. I’d consider a 50% rebate on my commission to be a substantial incentive and I threw that out there for the consideration of the person who posted the question. I have no problem with the full price real estate model. I understand the costs associated with running a large office and I realize that most agents have to split their commission with a broker and pay assorted office fees. I am a broker. I don’t share my commissions with an employer and I don’t have any office fees. I choose to pass those savings on to my clients.

I’ve answered quite a few questions here on Trulia and, like most of the realtors here, use this forum to promote myself and my services. What I don’t do is attempt to disparage any of the other agents who post answers. I don’t suggest that they are less qualified because of their business model. I do not imply they are doing something illegal. I don’t question anyone else’s integrity.

The agent a few posts below throws all of the above-referenced stones at me. She writes, “Did you know: Licensed real estate agents are not allowed by law to give out a commision to a non licensed agent. Agents who are so willing to give up their hard earned monies, I would be weary of on how they would protect your best interest..” I’m not going to be so petty as to critique her grammar and spelling, but to question my integrity and imply my business model is illegal requires a response.

While a real estate broker may not pay commissions to anyone without a license, rebating any or all of a commission back to a buyer is perfectly legal. It’s a business model many others employ and most agents at one time or another contribute part of their commission to make a sale. To imply otherwise is a blatant lie. Why would someone resort to lying to steer someone away from the competition? She goes on to state that if I share my commissions I may not have my clients interests as a high priority. I’d like to know how she makes the leap from, “I give part of my commission back to my clients”, to, “I don’t look out for my clients.”

I was part of about 30 transactions last year, over 100 since I’ve had my license. I’ve given hundreds of thousands of dollars back to buyers through rebates. Never have I had a complaint and most of my business comes from referrals. I guess that when your inventory report shows you only had three sales in the past 15 months you might be desperate. However, I suggest this agent work harder on her own business model rather that attempt to sully the reputation of someone more successful than she is.

Brad Davidson
Broker - We Help-U-Buy Realty
714-961-8442
Web Reference: http://www.wehelpubuy.com
0 votes Thank Flag Link Fri Mar 16, 2012
Homepath.com is an excellent resource as well as homesteps.com. Both offer buyer assistance. You can also negotiate and have the seller contribute to your closing costs or down payment as well.

The biggest incentive may be the low interest rates though...don't miss out on that.

Best of luck,
Jeremy
0 votes Thank Flag Link Thu Mar 15, 2012
Depending on the price range and other attributes of yours or the property you intend to buy, there may be programs that would help. Here in Marin County, for example, we have the Mortgage Credit Certificate, which enables a first time homebuyer to reduce his/her federal income tax. There may be something similar in Orange County and if you have any questions about your pre-approval or financing, I would be happy to assist.

Rob Spinosa
rspinosa@rpm-mtg.com
0 votes Thank Flag Link Wed Mar 14, 2012
Hi Joe,
Yes, there is a WISH program that match 3:1 of the buyer contributions up to $15,000 for first time home buyer if your income is qualify. Please call or email me for more information.
Best regards,
Angie Pham
Tel 949-232-6555
ATbroker@sbcglobal.net
0 votes Thank Flag Link Wed Mar 14, 2012
Hi Joe.

I am a local broker here in Tustin. The way compensation and rates work now days is basically the broker sets his/her compensation as to how much they want to make on each loan and the rate is set accordingly. The higher the compensation the request the higher your interest rate. In my situation, I have very low overhead and therefore take a reasonably lower compensation since I do not have to pay a loan officer a commission. 100% of the compensation goes to my office, thus the reason for lower compensation vs the big lenders who have high overhead and pay high commission splits to their loan officers. This compensation translates into higher yield spread (rebate) that goes RIGHT back to you to be able to help pay for escrow/title fee's, etc.

That being said... there is a fantastic grant program that offers 3% toward your down payment. You dont have to be a first time home buyer but it certainly helps you. There are income requirements, both high and low. You cant be too high or you will not qualify for the grant.... and you cant be too low or you wont qualify for the loan... So we need to find that happy medium for you and that's the first thing we would talk about.

You can go to my blog and take a look at my video blogs at http://www.billtdanielsblog.com for valuable information on pre-approval, financing, etc. You can also contact me at 714-809-3706. If I dont answer I will return your call promptly.

As my slogan says.... "We Do What We Say We Will - ALWAYS"... and I stand by that.

Hope to speak with you soon.

Sincerely,

Bill T. Daniels
bill@billtdaniels.com (dont' forget the T) :)
0 votes Thank Flag Link Wed Mar 14, 2012
Incentives-R-Us :)

Http://HomeOwnerShipUniversity.com

Http://KeepingITRE.com

And most importantly http://Got3000.com

Let us help you Joe, you won't be sorry!
Web Reference: http://keepingitre.com
0 votes Thank Flag Link Wed Mar 14, 2012
Hi Joe,

I provide an incentive to all my clients. I'm an independent broker and since I don't have to share my commission with an office, I share it with my clients. Half the commission I earn goes back to my clients in the form of a rebate.

Check out my website at http://www.wehelpubuy.com and give me a call.

Brad Davidson
Broker - 01416432
714-961-8442
Web Reference: http://www.wehelpubuy.com
0 votes Thank Flag Link Wed Mar 14, 2012
Joe, there's lot's of buying incentives nowadays in just about every market. The rule of thumb, however, is the closer to the beach you get the less buying incentives you'll find. Beach property everywhere just seems to be holding its' own.

You just need to determine where you want to live and then find a RE Professional in that area who will go to work for you. One great incentive in todays RE climate is negotiating the commission with your agent. That can save you a few thousand dollars going in. Don't be afraid to ask.
0 votes Thank Flag Link Wed Mar 14, 2012
Joe,

Sellers provide incentives nowadays that can be negotiated. Lenders provide step by step guide in pre-qualifying, an important step to purchase your home.

Keller Williams Realty provides a free book to first time home buyer that is comprehensive and an excellent guide.

Please provide your contact information in my website and I can mail you the book and help you purchase your home at an affordable price point with best incentives.
0 votes Thank Flag Link Wed Mar 14, 2012
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