Individuals or Husband & Wife team or group of unrelated individuals who do not own the home or co-signed other people’s home loan or on the title within past 3 years.
1st time home buyer have several additional helps & resources available. However if you are NOT eligible as 1st time home buyer , during the FREE BAY AREA HOME BUYER CLASS we will also cover Non-tradational help programs available to all home buyers. These programs include low (below market) whole sale interest rates & closing cost helps. We will also cover topics on how to beat other home buyers to good deal properties, how to save money with Distress Bay Area properties such as, Foreclosures, Short Sales, Bank Owned, Probate, Auctioned Properties. As well as pro & cons of each transaction types that all home buyers must know.
Helps availability for Bay Area Real Estate home buyers varies from Down Payment Helps, Closing Cost Helps & Below market Interest Rate Government Home Loans to Below market priced Bay Area Homes. Helps are available for all income levels both High & Low . Each programs may depend on your current income, where you intend to purchase your property, type of property, whether you are 1st time home buyer or repeat home buyer etc. Each federal, county, city governments as well as non-profit organizations & Non-traditional help programs established their own type of helps available to home buyers. Each program may also dictate highest & lowest income limits as well as purchase price & loan amount limits. Low income is not necessarily advantageous, so as the high income. It depends on many factors. Some individuals has received & were eligible for up to $90K down payment & closing cost helps & others simply got 3% closing cost help & yet some others qualify for low whole sale interest rates or closing cost helps. Not all the assistance& programs work together. That’s one of the reasons why you can not afford NOT to use the 1st Time buyer specialist Real Estate Consultant, who can provide custom advice based on your family/individual needs & financial situation.
All home buyers will be eligible for some type of helps depends on their individual income & credit situation. However if you are 1st time home buyers may enjoy more helps. You are highly eligible, if you are 1st time home buyer (as defined above) with sufficient documented & verifiable income with stable job history of at least 1 years (OR) for those who just grduated you may qualify as long as your new employment starts within 6 months upon your graduation. CA tax paying individuals with H-1 visa holders are also eligiable with 2 years of verifiable work & documentable income. There are programs for all credit level but Credit score of 680 or higher is needed for best programs.
Why is it important for me to work with "1st Time Buyer Specialist Real Estate Consultants”? (^Up)
To make most out of these once in a live time benefits you are entitled for, it is important that seek the advice & work only with the "True 1st Time Home Buyer Specialist Real Estate Consultants”. Unlike most traditional Realtors who are “Generalist, Providing traditional & standard advices with little benefits”, the "1st Time Buyer Specialist Real Estate Consultants" know the available Govt, Non-profit & other sources of helps, the program’s benefits, as well as the eligibility guide lines & perfect Bay Area homes that fits all these guidelines, inside out to make your home purchase a truly affordable & successful one. Thus these professionals will ensure NOT only, you Get the best optimized result of Saving 10’s of $$$ with your home purchase, but also Help avoid risking your security deposit, that typically accompany with your home purchase offer due to your generalist Realtor’s lack of detailed knowledge on financing & home’s eligibility guidelines. Or even worst, you missed out entirely the once in a live time helps that you are entitled to as a 1st time home buyer due to your Realtor or lender lack of knowledge or simply because they refuse to discuss these options with you for other profit motives.
Most working Realtors are “Generalist” (i.e. They work with anyone & everyone, including 1st time home buyers. From sales of low cost condo to million $$ luxury homes to vacant land. They offer standard "general advices" the same ones that they offer to move up or million $$ home buyers. They may refer you to "traditional lenders" offering “traditional conventional home loans” requiring unwary 1st time home buyers to put down huge down payments & closing costs etc).
However, the true “1st Time Home Buyer Specialist, Consultant” know the special & unique financial challenges face by many of the 1st time home buyers. They know what helps are available especially for 1st time home buyers. Thus these professionals knows available Govt, Non-profit and other sources of helps, program’s benefits, as well as the eligibility guide lines & perfect Bay Area homes that fits all these guidelines, inside out to make your 1st time home purchase a truly affordable & successful one.
By selectively working with them you’ll Not only get the best optimized result of Saving 10’s of $$$ with your home purchase, but also Avoid risking your security deposit, that typically accompany with your home purchase offer due to your generalist Realtor’s lack of detailed knowledge on financing & home’s eligibility guidelines of these special programs, while writing up the purchase offer contract. Working with the 1st time home buyer specialist is like going to the Dermatologist vs. going to your general practice doctors for your skin issue. They are rare to find but once you find them they are worth your time investment.
If you have enough down payment of your own that is very good. In fact that will give you many more different options & choices. Regardless, you should still explore what these helps are e.g. if you can get the $75,000 Loan with 0% APR for 5 years , wouldn’t it be nice to keep your own money in interest bearing CD and enjoy the income , instead of locking your money up. Better yet you can use the extra down payment you save to purchase the income rental property etc to help build your future wealth. It’s about how efficiently you are investing or planning your money to get ahead in live.
Unfortunately for these transactions to close smoothly & successfully, as stated above Realtors you are working needs to have intimate & deep knowledge of these 1st time buyer’s financing programs & guidelines. Each program has their own technical & very specific requirements from Purchase Price, buyer’s income level, property type, location of the property to owner occupancy rates and many terms that must be met when writing the purchase contract offer. Working with your specialist consultant becomes even more important due to current & ever increasing restrictions imposed by financial institutions & government itself . In the ends it is your earnest money & security deposit at risk, not that of your Aunt, Uncle or Friends. If they are true 1st time buyer specialist Realtors we encourage you to seek their advice.
Majority of the time it doesn’t cost you anything (other than your commitment to work with them). It is customary (though not all the time) that Home seller will compensate the Exclusive Buyer Realtor.
You definitely can, however
1st: Most likely they may not be 1st time Home buyer specialist Realtor (or know what it takes to truly help you)
2nd: they have written & signed agreement with Individual Home Sellers (or) Builders pleading that they will do their outmost to sell these home with Highest ,best possible price & terms to buyers. In the “Free Bay Area Home Buyer Class” you will also learn different types of agency relationships available to you as a consumer as well as which one is best for you as home buyer to provide the maximum protection before you choose your Realtor. Knowledge, give you protection, protection that you will never get –if you do not know. Though it may seem like an obvious fact, due to lack of information or education most home buyer consumers are not aware of the type of protection they can get. (Simply put: Do you go to prosecuting Lawyer in court &discuss all your details to help represent you – or do you hire your own defense lawyer?)
This is one of the most common assumption 1st time home buyer’s in Bay Area has. That’s another reason why you should attend the Free Home Buyer Class. There are different types of helps available for different income level. In fact many of the Hi-Tech silicon valley workers (engineers or other working professionals) have benefited from these programs. We have programs for those with relatively High Income, Moderate Income as well as Low Income. Types of helps available differ and each programs has it’s own pros & cons. 1st time home buyer Specialist Realtor Consultants should be able to help you design the program that most beneficial for your family.
It is Very different because
- 1st ,for most people it is most expensive purchase they will do in their live.
- 2nd , to double the risk, though you are purchasing a home , in fact you are purchasing 2 separate & different products, yet equally very large sum of money involve. One is the “home” it self & other is the “Home Loan”.( Unless you are very lucky few who can afford the cash down)
- 3rd unlike other items you usually purchase, which comes in standard & very well defined manufacturing spec like watches, Cars. Gadgets etc . Reality is NO 2 homes are alike, even if they were built by same builder, same size in same complex. That is because, even simple things such as whether it is corner lot, closer to noisy public area or orientation of the house(direction the door face, incorrect layout or efficiency of the homes) all makes a difference in desirability and market demand thus create difference in pricing in 10’s of thousands. Thus every home is custom & you need expert knowledge from industry insiders, who you can trust.
- 4th unlike other purchases, with Real estate purchase, you can technically end up losing more than you pay for –(e.g. Owner can be liable for million $$ worth of environmental clean up issue etc) if you are not careful with your purchase, or title to your new home etc is not clear.
“Free Home Buyer Class” will cover the topics on this area too.
We are group of well experienced & highly specialized Real Estate, Finance, Title & Escrow expert consultant professionals who believe that best way to uplift the industry standard & serve the consumer the best is, by providing them with specialized education & advices that would bring true long & short term benefits to consumers. This site and FREE class was designed as part of our commitment to bring unbiased information to consumer to Help Bay Area Home Buyers, make well educated & informed Real Estate & Financing decisions as well as inform home buyer's of their rights. We know that it is often difficult to get relevant & unbiased information when you are looking to buy a home.
Thus, as a way of fulfilling our commitment as well as to demonstrate our in depth, expert specialized knowledge to you (the consumers) we have provided truly FREE, yet comprehensive, unbiased useful & high value information. Many Bay Area Homes buyers who attend the FREE & No Obligation “Home Buyer Helps Info” Classes were so impressed with our level of expertise & in-depth knowledge they received during the class that they will contact us (or one of our sponsors) in order to assist them in purchase of their home.
We truly hope that you will also find the FREE Class, Reports, Information, Tools and Resources helpful in making the educated choices with your Bay Area Real Estate purchase and We look forward to helping you with your move.
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For "FREE Bay Area Home Buyer Helps Info Class"
Classes Sponsored By:
Chicago Title & Escrow
Bank Of America & JP Morgan Chase
Home Solutions Realty