Home Buying in 92563>Question Details

New Home Buy…, Home Buyer in 92563

Is it possible to find a nice home for a family of six?

Asked by New Home Buyer, 92563 Mon Feb 9, 2009

We have a maximum price we want to pay ($230K). Are there any grants for FTHB?

Help the community by answering this question:


Thank-you very much Amy for the link. There are no details of the program so I called the 800# and you leave your name, phone #, and address to have the information mailed to you. I left my info and when the packet comes in I will post the new rules. From the description change it looks like they may have eliminated the closing costs portion and restricted where you can purchase.

First-Time Home Buyer (FTHB) Program – (Temporarily Closed – see RHP) Downpayment and Closing Cost Assistance for qualified families to purchase a new home.

Redevelopment Homeownership Program (RHP) – Downpayment assistance for first-time homebuyers of low to moderate income to purchase a home within the unincorporated areas of the County of Riverside and County Redevelopment Areas. For more information contact 1-(800) 909-0079.
0 votes Thank Flag Link Wed Feb 11, 2009
All state, city, and county loan assistance programs are a matter of public record and are posted on the correlating website. There is no reference to this RHP when the FTHB program and MCC program are in full detail on the ECA website. There is no way to know that this program actually exists. Please help the public by posting the link so that they can inform themselves.

0 votes Thank Flag Link Wed Feb 11, 2009
According to the MCC parameters you can do a VA loan and qualify for the credit:

"MCC's may be used with conventional, fixed, 15-year, 30-year, or 40-year term loans, including FHA, VA, FNMA, FHLMC and privately insured loans. MCC's may not be used in conjunction with bond backed loans, such as Cal-Vet or California Housing Financing Agency (CalHFA) loans. "
0 votes Thank Flag Link Wed Feb 11, 2009
Thank you all for the great advice!

Amy and Robert- we are getting a va loan. Does the program apply to va? I was also looking into the MCC credit program. Has anyone heard of that one?
0 votes Thank Flag Link Wed Feb 11, 2009
Amy, can you give us the direct link to the RHP on the county website that you are talking about?

Also, Murrieta Hot Springs is approximately 1.3 sq. mi. located within the City boundaries of Murrieta. It basically consists of the Calvary Chapel Bible College and a 55+ mobile home park. It is not the City of Murrieta.
0 votes Thank Flag Link Wed Feb 11, 2009
Here is the website to the program that Amy was referring to:


Here is the quote from the program:

"All funds for the First Time Home Buyers (FTHB) Down Payment Assistance Program are exhausted and are no longer available. Starting September 8, 2008, our office will no longer accept any new FTHB applications."
0 votes Thank Flag Link Tue Feb 10, 2009
New home buyer,
You got a ton of great advice and I agree there are a lot of programs out there to help First Time Home Buyers. May I suggest before you start your actual home search that you meet with a few lenders and figure out what program will work for you and your family and then interview a few real estate professionals to find the perfect fit for you and your family.

By doing your research first and having all your lending documents (pre-qualification, fico scores, etc) you will be well prepared to compete for homes in this market. The current housing prices have buyers in multiple offer situations and if you do not have all required documents to submit an offer you may lose out on a home you love. This advise is just based on my experience with my buyers, and does not hold true to all homes in Murrieta--that is, not all homes receive multiple offers. My philosophy is to be prepared, educated, and informed about a purchase so big...

Good luck and Best wishes.

Pamela Brown-Gatlin
0 votes Thank Flag Link Tue Feb 10, 2009
New Home Buyer, You may want to look over the Gov. site for all loans.....http://www.govloans.gov/govloans_en.portal?_nfpb=true&_p…
Take a look through all the current housing loan programs and see if you might be eligible. Keep an eye open for new programs.
Take a look here on the Hud site for links to local programs.....http://www.hud.gov/buying/localbuying.cfm

To get an idea of what's on the market, prices ect..try using Huds Property for sale site..
Try this site which will provide you links to Bank (REO) property for sale sites and Gov. sites.
http://www.mortgagenewsdaily.com/wiki/REO_Database_List.asp ......will give you links like these..
Check out the FHA site........http://portal.hud.gov/portal/page?_pageid=73,1&_dad=port…

Do your research, become informed......Good luck, Dunes
0 votes Thank Flag Link Tue Feb 10, 2009
Absolutely! You can get in for as low as 3.5% down and sometimes have the seller pay for your closing costs. For example on a house that you buy for $200k you would only need to have $7000 to purchase the home. I live in Murrieta and know the neighborhoods and the best deals. It can be quite confusing with short sales, foreclosures, etc. and what the advantages and disadvantages are to purchasing them. There are also areas that range in tax rates from 1.2% to above 2%. That means your property tax on that same house could range from $2400/yr to $4000/yr or more.

I would be privileged to assist you in finding your new home. You can find out more about me from my website and Trulia profile page.

Call or email me anytime
Web Reference: http://www.robertfirst.com
0 votes Thank Flag Link Tue Feb 10, 2009
Yes, there are a variety of government programs available for first home buyers. These programs are available on the local, state and federal level. Click below to view a list of homes in Murrieta $230 or under with 5 or more bedrooms.


As you can see, there is alot of choice and more becoming available every day. Please feel welcome to call our office at 951-308-1917 if we can help you further.

Best wishes for success in your home search!!

Richard Greenwood, MBA, GRE, e Pro
Web Reference: http://HomeBuyerSupport.com
0 votes Thank Flag Link Tue Feb 10, 2009
You are fortunate to be looking for a home in a time and place where $230,000 can actually buy you a home for a family of 6. In Murrieta there are over 250 single family homes listed at or below $250,000. Of these, about 150 homes have 4 or more bedrooms and over 30 with 5 bedrooms or more. In fact, there is an 8 bedroom, 4 bath home currently on the market for exactly $230,000.

So, now all we need to do is get you a loan and find you the home you really want. Working with a menu of excellent lenders who can pre-approve you for a purchase, we are sure to find you a great loan to support your new home. Unfortunately, most of the 1st time home buyer programs which offer down payment assistance ran out of funds the end of last year. However, there are still ways to get you into a home with a small down payment, and currently with interest rates extremely low, now is the time to qualify and buy. Looking forward to being part of making your dream come true. Contact me through my profile and lets get you into a great home at a great price and find you a great loan that makes it all very comfortable. Dare to Dream

Shel-lee Davis
"Your Dream Team"
Real Estate Consultant
RE/MAX Palos Verdes Realty
0 votes Thank Flag Link Tue Feb 10, 2009

A real estte professional will be able to provide you with complete information on the best locations and homes available in your price range.

We also recommend meeting with several loan specialists to find out about the programs that will best meet your needs and get pre-approved. IMPORTANT......always request a "good faith estimate" that is documentation of the program and rate that was quoted to you by the agent.

Good luck
0 votes Thank Flag Link Tue Feb 10, 2009
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