Member:
Executives Association of San Diego
Licensed by the CA Dept of Real Estate #01090117
First time home buyer programs: There are a variety of first-time homebuyer programs available in San Diego. To qualify for some of the programs the applicant must meet the income guidelines and not have owned a home within the last three years. The applicant must plan to occupy the property as their primary residence.
FHA: The original first time homebuyer program. 3% down. Very flexible qualifying, gift allowed for down payment and closing costs. Some credit problems allowed. No maximum Income limits. Call us for more information. The FHA loan limit for a single family residence is now $697,500. The seller can pay closing costs.
VA loans: Special program for U.S. Veterans. 0% Down, all closings costs can be paid by seller. Max Loan with full entitlement is $417,000 (includes VA funding fee). If you exceed $417,000 you must put 25% down on the amount in excess of $417,000. VA certificate of entitlement required. Note: Special Temporary VA Zero Down loan limit raised to $697,500 in San Diego County until 12/31/2008....Call for details.
Cal-Vet Loan: Special program for U.S. California Veterans. 2-5% Down, all closings costs can be paid by seller. Adjustable rate, Max Loan $417,000, Entitlement required, Must purchase Cal-Vet life, disability and hazard insurance.
Mortgage Credit Certificate. Provides a tax credit (not deduction) for 15% to 20% of the interest paid by qualifying first time buyer for the life of the loan. Funding of this program is limited, call us for more information (858) 495-1888.
City of El Cajon California Dream: The City of El Cajon will provide up to 30% down payment assistance and up to $5000 in closing cost is you fit their guidelines for income, assets and credit history. This program is very generous but extremely restrictive. If you think you may qualify call us and we will review your situation. Click here to link to the City of El Cajon program. Call us for more information.