1. Identify a reputable loan officer and stay with one.
2. Your credit report should not be run multiple times in a short period of time,i.e. monthy, bimonthy as it
brings your score down.
3. When you give documentation to any loan officer/realtor provide them with copies only keep your
4. When someone runs your credit report, always request a copy of it, this means you probably have to
pay for this report.
5. Keep in mind you are working through a process to be able to reach your goal.
6. Francisco Chan is a loan officer I have worked with who is honest and can help you identify a program
to get the best loan for you. His number is: 925 229 1985.
Good luck and best wishes.
Yes there are programs available to you. I use Nancy Everett who can be reached at 818-424-5626.
Nancy has helped me with several of my teacher clients and you should definitely take advantage of this program.
I didn't see any answers from a local agent yet, so I thought I'd take a moment to respond to your question. Brentwood has a Down Payment Assistance Program that can be used in conjunction with an FHA loan, but it is quite difficult to use this source since they require you to use one of only three loan agents and they may be out of funds right now. FHA currently allows Seller Funded Down Payment Assistance, but will discontinue doing so after Oct. 1st. State employees have access to some special programs through CALPERS. I work with a certified mortgage planner who is well versed on all the First Time Buyer Programs available, and she takes the time to help you decide of the options available, which makes the most sense in your long range financial plan. If you'd like her contact information, let me know.
The FHA Loan will change to 3.5 % Down Payment on October 1, 2008, so you have to act fast. FHA Loans also allow for someone to Gift you the down payment, also, but it has to be a Gift, so you don't have to pay it back.
Now is the time to buy, because it is almost impossible to guess when the market is going to bottom out, and when it does, the prices start right back up again, and it's harder to find a home. It becomes a seller's market, and it's harder to get the sellers to pay your closing costs.
I'm basing this on 33 years experience in the Real Estate Industry, and I've seen just about every market out there. So my advise is Buy now.
I hope the answered your Question.
Have a Great Day.