Scott Storace - Branch Manager, 100 Pacifica Drive Ste. 140, Irvine CA 92618 NMLS #226339 949.973.0141

"From the minute you call me to the minute we close, I have your back. No hassles, no banker’s hours & quick response times." - Scott Storace

  • Home Loans up to $3,000,000
  • Interest Rate Float Down Option
 

Have Questions? Call 949.973.0141

Are You a First Time Home Buyer Trying to Save Your Down Payment

Are you a first time home buyer trying to save your down payment? Everyone knows that it’s ideal to save up twenty percent of the purchase price to put down on your first home.

In a market like Orange County where median home prices are over $700,000, 20% down is over $140,000. Are you having a hard time saving up 20%? Or even 10%? The struggle is real. Home prices have been on a fairly steady rise over the last several years. Chances are, by the time you reached your savings goal, that twenty percent is more like 17%, or less.

We understand the challenge and we are here to help! Actually, FreddieMac is here to help. They have released a new program for first time home buyers called HomeOne. HomeOne offers a low down payment option. How low is low? How about 3%?

 

One of the stand out features of the HomeOne mortgage program is that it does not have income limits! There are also no limits on location either. So you can find your dream home, in your preferred location and enjoy all the great benefits that come with being a home owner.

This program has certain requirements that the buyer must meet, including income and credit verification and attending a Homebuyer Education class. Also, one of the borrowers must be a first time home buyer.

If you have any questions or are wondering if you can get into a home for 3% down, reach out to us today!

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Comments:

  1. What’s up, yes this post is actually good and I have learned lot of
    things from it regarding blogging. thanks.

  2. Thank you! I always strive to demystify the home buying process for my readers and share valuable info to encourage more people to buy a home.