First time home buyers that have not been able to save up a lot of money to buy a home do not have to give up on the homeownership dream. There are several loan programs created to help them out.

Here goes a list of several options that can help. To find out if you would qualify for any of these programs please check with your local lender.

  • First-time Buyer Tax Credit - This allows buyers to get a tax credit for 20% of the interest they pay on a loan! This could save the average buyer over $3000.00 year as long as they own their home.
  • CalHFA Loan - This allows buyers to buy with no money down as long as they are first-time buyers making less than $128,000.00 annually!
  • CHENOA - Down payment assistance and the down could be forgivable if your income is less than 115% of the median income in your county.
  • Home ready and Home Possible - Not first-time buyer programs, but a buyer can save hundreds of dollars a month with lower rates and lower PMI rates.
  • CALHFA Teacher Loan - Rewards teachers and staff who serve California Public Schools. Down payments assistance up to $15,000.00.

(Courtesy of Mike Meena)

Thinking about buying or selling a home? Contact me at any time. I am never too busy for you!