Can we get a any aid for first-home-buyer @ Buena Park? & Can we increase the allowable price w/ our situation

Asked by Jong Kim, Los Angeles, CA Tue Mar 10, 2009

Hello.
I am a person who is finding a new home to move in recently.(Especially Buena Park, OC) Today I visited to new gate house @ Buenapark with my sister. The thing I just want to know if we can submit loan application to get approval housing loan (FHA) with our situation. (Actually, we do not have enough fund to down-payment as 20%). My sister will buy a new house to live with me and mom as a main borrower. Her occupation is a registered nurse for 5 years and her annual gross income is $75k approximately. She is a permanent residence who has high credit score. Otherwise, I am not. I don't have SSN but, ITIN. I have worked continuously as a self-employee and have reported income TAX for 4 years with 1099. (around $20K per a year). We have great intense in a house now, but always the price is the biggest concern. So, we would like to get a kind of federal, state or county home buying aid fund. Frankly, a couple of month ago, my sister asked for pre-qualifying how much range of hous

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Jonelle Bech…, Agent, Beverly Hills, CA
Sat Apr 11, 2009
Hi Jong Kim, This might be better aid for you!
The City of Los Angeles Housing Department (LAHD) will offer purchase assistance financing to eligible low- and moderate-income homebuyers seeking to purchase a foreclosed home in an NSP Priority Area in the City of Los Angeles. LAHD provides assistance in the form of a deferred loan for purchase assistance (down payment and closing costs) and rehabilitation funds (if the property requires repairs).

Give me a call 818-605-3204 !
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John Barry, Agent, Eagle Rock, VA
Tue Mar 10, 2009
Jong,

In case you are not aware, there is a new first time home buyer credit available from the federal government in the amount of $8,000.00, which would be refunded to you through your income taxes when you filed assuming you qualified through the purchase of a home and met the conditions. This is part of the stimulus package passed by Congress & the Senate & signed into law by President Obama.

As long as your sister and mother co-sign the loan also, and your sister has the income and high credit you mention, you sound like excellent candidates for a loan for first time home buyers. I am an agent with Coldwell banker in Los Angeles, and I would be glad to put you in touch with one of our mortgage reps with First Capital Mortgage, who would be more than happy to speak with you & your sister & see what you would qualify for. Now is an excellent time to buy with the low interest rates and great values out there.

Please contact me by email at john.barry@coldwellbanker.com, or call me at 323-810-7976, and I would be more than happy to chat with you.

Take care,

John Barry
Coldwell Banker Residential Brokerage
DRE #01856079
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