Home Buying in Paradise>Question Details

Send, Home Buyer in Chico, CA

I don't have a down payment but I want to buy a house in Paradise, Is there help for me?

Asked by Send, Chico, CA Sun May 25, 2008

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What is the address you are looking at? I can check to see if this qualifies for a 100% financing USDA rural loan. Rob, homeloan8@gmail.com
0 votes Thank Flag Link Sat Jun 30, 2012
I would start looking for someone willing to do a rent to own. In this case, you would sign a contract and pay a small deposit to give you the option to purchase the home in the future (2 or 3 yeras), at a price you and the owner settle on now. You would then agree in the contract that a portion of the rent you pay during the 2-3 year period would serve as your downpayment toward the home when it is time to buy. When the time to buy arrives at the end of your contract, you must either buy the home then, or lose your initial deposit. Some owners who rent to own are willing to carry the loan for you, so you make payments directly to the owner after you buy.
0 votes Thank Flag Link Sat Jun 30, 2012
There are many ways for first time homebuyers, with verifiable income, to buy a home with no money down. Most of these programs have both home price and income limitations. Check with a lender who specializes in first time homebuyers (call or e-mail me if you would like a referral) and ask them about programs such as HiCAP, CHAP, CHDAP, and if you are a teacher or other qualified educational professional ECTP.

If you earn too much for the above programs or are not a first time homebuyer then there are other programs as long and you and the home you are buying qualify for FHA financing. Check out AmeriDream or Nehemiah. You can get 3 - 10% assistance toward your down payment using these programs.

Best of luck to you in finding your perfect home and Dare to Dream.

Shel-lee Davis
Real Estate Consultant
RE/MAX Palos Verdes Realty
0 votes Thank Flag Link Sun May 25, 2008
Assuming you can qualify for the loan, we do have programs to assist home buyers in Paradise, California. Either visit my website or call me and I would love to get you started.
Web Reference: http://www.magaliahome.com
0 votes Thank Flag Link Sun May 25, 2008
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