Sometimes we get so caught up in the importance of homeownership, that we forget that the foundation of the home is no less imporant than the strong and solid foundation of our ability to own a home. Homes have problems, they need fixing, we run into trouble with our health and with our jobs. You should have a good 6 months emergency living funds stashed away, and ideally about a 10k homeownership safety net for repairs. Otherwise, you might find your good credit, a valuable asset, slip away.
When/If you are in the right financialc condition for homeownership, I would be happy to assist you in getting started.
This is an excellent question. Although I have not been involved personally with this program, I have heard about Trio Equity: http://www.trioequity.com/index.html Their website states Trio is smart financing for todayâ€™s uncertain times. Built for todayâ€™s changed housing market, Trio takes the best features of renting and owning and combines them into a flexible yet secure way to live in your new home. No other type of real estate financing lets you choose where you want to live and provides you long-term fixed payments without the risks or costs associated with traditional mortgage financing. I hope this helps. (No endorsement intended) ~ Good luck!
As the other MLO's mentioned, the only 100% financed loan programs are VA and USDA. I am including a linki below on the USDA eligible areas here in Ventura county as well as Los Angeles county. There are a couple of down payment assistance programs as well that require as little as .5% down to 3.5% down. If you would like more info on getting approved for these loans in order to purchase a home here in Ventura county or in Los Angeles county, please feel free to contact me.
Yes, the only way to get 0% down is on a VA loan. If you're looking for another option that is close to 0% down, consider a homepath loan at 3% down payment. You should see if a loan officer can give you an estimated closing cost worksheet for these options so you can see what the costs would be for all these types of loans. Best of luck to you!
First Capital Mortgage
Direct: (310) 434-1718
Cell: (310) 995-0975
PLEASE SEE MY BLOG FOR A FULL LIST OF TIPS AND ADVICE ON GETTING A MORTGAGE