where can i get help with the down payment to buy a house?

Asked by Luis, Palmdale, CA Thu Mar 6, 2014

This question was asked from http://www.trulia.com/property/3139968698-37806-Cluny-Ave-Pa…

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Adrian Rissl…, Agent, Lancaster, CA
Mon Jun 16, 2014

Call a local lender to see what type of loan you qualify for and if your eligible for down payment assistance.

Mountain West Financial, Antelope Valley

Gabriella Godde
Office 661-949-0260
1 vote
Robert Anyiam, Agent, Lancaster, CA
Mon May 12, 2014
Hi Luis,
You are not alone in this issuet, most prospective first time home buyers are not aware of numerous mortgage loan programs that are made available for them through the city and local government agencies. Although most of these programs are income based, however, majority of the first time home buyers qualify. Popular among the programs is "down payment assistance" or "City subsidized mortgage loan" programs. These Mortgage loan programs allow qualified first time home buyers to get down payment assistance up to $60,000. There are certain guidelines and regulations for this type of loan programs and they all depend on the availability of fund but for those struggling with saving enough money for down payment and closing cost, it serves the purpose. There are other mortgage loan programs that are made available to first-time home buyers through some mortgage companies and banks but those typically are to help some category of qualified buyers with either all or part of their closing cost.

Nevertheless, the first reasonable thing to do if you are thinking of buying a house, is to talk to a Realtor who based on his/her experience and knowledge, will be able to guide you through the necessary process of buying a house from obtaining the loan (including finding available down payment assistance program) through the rigorous process of finding your desired home, to guiding you through the numerous escrow paperwork, to closing and delivering the keys to you.

For more information on mortgage loan assistance programs and other real estate needs call:

Robert Anyiam(Realtor)
CalBRE Lic. 01715456
Re/Max All-Pro
43832 20th St. West
Lancaster, CA 93534
714-650-5056- Cell
661-942- 0696-Fax
1 vote
Octavio More…, Agent, Lancaster, CA
Tue Apr 1, 2014
Hello Luis, some banks offer the down payment assistance with a minimum FICO score of 670 what this deal really is the down payment money will be finance as well on a 2nd silent loan but for more information with accurate numbers and details please contact a local direct lender in Palmdale, if you have any more questions don't hesitate in contact me.
Octavio M Moreno Century 21 Yarrow & Associates
1 vote
Anny Delance, , Palmdale, CA
Wed Jun 18, 2014
Here at HSBC we have a program that will help with the closing cost, no repayment necesary! Call me Anny at 213-259-7313. I will be happy to help you achieve the home ownership dream!!
0 votes
Don Gockel R…, Agent, PALMDALE, CA
Fri Mar 7, 2014
Luis, as you can see there are several resources for down payment assistance. When you are ready to get started please choose a lender and agent that is local to the Antelope Valley and familiar with the state of business in the valley. It always seems easy in the beginning, then it gets hard but in the end it is all worth the hassle. Good luck and let me know if you need some help.
0 votes
I agree with Don 100% having local brokers involved in your transaction make a big difference.
Flag Thu Mar 20, 2014
Shel-lee Dav…, Agent, Rolling Hills Estates, CA
Fri Mar 7, 2014

If you qualify for VA or USDA, both of these are 0% down loans. There are also lenders out there that advertise 0.5% down (using various government programs). You need to find a lender who specializes in these programs, as they are the only ones who know when and if there is money in any of these down payment assistance programs. Usual requirement include credit score over 640 and being "low income".

Of course, there are always family members, co-buyers (who will probably want to take some of the home equity), borrowing or withdrawing from your retirement accounts. Many people use these methods to get help with their down payment.

Good luck.

Shel-lee Davis BRE #01817412
Real Estate Consultant
International Real Estate Specialist - IRES®
Senior Real Estate Specialist - SRES®
Certified Home Seller Advisor - CHSA®
Certified Home Buyer Advisor - CHBA®
Member - National Association of Certified Expert Advisors - NAEA®
Certified Distressed Property Expert - CDPE®
RE/MAX Estate Properties
424-2HELP12 (424-243-5712)
0 votes
Edwin Momeny, Agent, Newhall, CA
Fri Mar 7, 2014
The USDA loan program allows you to avoid making a downpayment, but you can only use it in rural areas like Littlerock or Rosamond.

Beyond that, I would suggest speaking to a lender to see if they have a special program to meet your needs.

Good luck :)

Edwin Momeny
Realty Executives
0 votes
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