How do 1st Time Homebuyer Programs Work? | CA Mortgage broker

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TDR Mortgage Has been doing 1st time home buyer programs since 1998, let us help you with your 1st Time home buyer loan Today.

In this video we will cover how 1st time buyer programs work and answer the following questions;

What is a 1st time buyer program?
A program that lets you buy a home using some kind of assistance to the down payment or to qualify for a home loan.

Do I have to be a first time buyer?
What does that mean?
No some programs you don’t have to be a 1st time buyer (usually you do though). Also certain areas offer more leniency. A 1st time buyer is considered someone who has not owned a home in the last 3 years, nor co-signed, nor taken any mortgage interest deduction on their taxes.

How does it benefit me?
Lower than normal cash outlay and/or preferred loan terms. Often Zero down and Zero Closing Costs.

How do you qualify?
Just like a normal loan except in many cases we need 3 years of taxes. You will provide Cash, Credit and Income documents along with a complete Loan application and we will have to run your credit.

What are the restrictions, if any with buyer programs?
Usually the restrictions are in place to protect the borrower from getting into trouble since many buyer programs you don’t need to invest much money.
Debt ratios are much more conservative.
Credit scores must be above 640 and the programs improve as your fico score increases.
Sales Price restrictions.
Location restrictions.
Income restrictions

Often times these restrictions do not affect borrower qualifying. Contact our office today to see how you can own a home within 45 days of applying.

Call today 909-920-3500!!!
Teresa Tims, TDR home loan mortgage company is a trusted provider of home loan mortgages and home refinance Compare mortgage rates on a home refinance, VA loans, FHA loans, Jumbo loans, conventional loans, http://www.TheSoCalLoanPro.com reverse loans, first time home loans, 1st time buyer loans, USDA loans, CalHFA loans and Chdap loans and Calhafa loans. We serve Southern California including Upland, Rancho Cucamonga, Fontana, Rialto, Chino, Chino Hills, Mira Loma, Eastvale, Ontario, La Verne, Claremont, Montclair, Pomona, Riverside, Corona, Glendora, San Dimas, Los Angeles, Orange County, Coachella Valley, the High Desert and San Bernardino.

I am a life-long resident of the Inland Empire and a licensed California Real Estate Broker, Licensed Mortgage Loan Originator, California Certified Residential Property Manager, Certified Short Sale and Foreclosure Specialist. Serving California since 1998 with many years experience in the Mortgage Loan & Real Estate industry, I am dedicated and prepared to assist you with your mortgage loan or refinance. Checks out my testimonials page raving fans are no accident http://www.thesocalloanpro.com/catagory/video-testimonials/ I look forward to hearing from you soon.

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Teresa Tims, TDR Mortgage and/or TDR Real Estate Group is an equal opportunity lender and any mention of rate or term is an estimate only and could vary based on many variables such as credit score, equity position, sales price etc. We are an equal housing lender.

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Home Loan Modification Companies

Purchasing a house is making the greatest financial investment in your life. Short sales offer an useful service for homeowners who are having a hard time to pay their home mortgage payments.

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Individuals tend to feel overwhelmed, stressed out and intimidated with the entire affair. This slump has actually been a heaviest blow to all the house mortgage lenders around the US.