Game Changer

This could be the break you’ve been waiting for.”

One client of mine is a super hard working guy.  He’s a plumber with a good company, and he’s been there for years.  His wife is an office manager. They both have good jobs and pretty good credit.  They want to buy their first home. They’ve saved about $10,000 so far towards a down payment.

When I met with them they told me some of their concerns:

 

“I’m scared to spend what savings we have on a house.  Then we won’t have enough left for emergencies,” he said.

“It’s so hard to save more when we are paying so much in rent already,”his wife added.

Over the years I have heard many many buyers in the same position.  It’s painful and frustrating.

Until recently there hasn’t been much we can offer to help with the problem.

There have been very few times over the 12 years I’ve been in real estate and loans that I have seen a loan program that really changes the game in real estate here in the Bay Area.  But with some new changes to an old loan program – that day is here.

The Down Payment Assistance Program has been around for a long time.
What’s changed?
The limits on how big a loan you can get have gone UP.

Up until now, we could only offer 100% no-money-down financing on a property priced under $453,000 in Alameda County.  As you probably already know there are very few properties under $450,000 in the East Bay.  Now, with the new rules, we can help homeowners buy with little to NO money down, all the up to $725,000!!

Why is this so important?  Because in the Bay Area the cost of living is SO high.  Many many people come to us that have GOOD JOBS, but they can’t manage to save enough to buy a home.  Their rent is so expensive there is not enough money left over to save.

If you have worked hard to save up a nest egg for your future home BRAVO to you! But for many, that is really tough to do.

Besides that, when you buy a home you want to have some money left over to fix it up or buy new furniture or have emergency funds so you feel comfortable making such a big purchase.

I can only imagine how many people out there can now qualify to buy their home for the first time using this new program. You do NOT have to be a first time home buyer to qualify.  **There are income and credit requirements involved of course.

We are opening the door to a new home for so many.  Yes, there are many financial reasons to buy a home.  But the most important reason is the security for you and your family.

Rents are unbelievably high in the Bay.  Yeah… we all know why. The BAY is an awesome place to live.  But it is expensive!
If you are renting and you think you’ve got a good place, affordable rent,  what happens when the owner of your place decides to sell it?

Would you panic?  

When you own a home of your own you don’t have to live with that worry.  Instead, you know that you own an asset, something that you can build on for years to come.

If you or someone you know wants to become a homeowner and has felt held back because you don’t have the money for the down payment, ask us about the Down Payment Assistance program.

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