3 Buyer Assistance Programs Available Now
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Transcript of 3 Buyer Assistance Programs Available Now
Welcome, You’re Early!
We’ll Get Started in a Moment
3 Buyer Assistance
Programs you can use Today!
Questions & AnswersGet Answers – Questions BoxAssistance Experts Standing ByInteractive Environment
There are no dumb questions!
Write this number down in case of technical difficulty
1-866-667-6724
Tax Credit is GoneDown Payment Assistance
Closing Cost Assistance
Assistance don’t pay back
Guaranteed Seller Concessions
Assistance you can use NOW
Catch of the Day
CHF Platinum Grant
CalHFA CHDAP Assistance
Fannie Mae HomePath
Reliable Home Buyer Assistance
Broadview Mortgage – Expertise
www.HomeownershipUniversity.com
Grant
1CHF
CHF Platinum Home Buyer Grant
FREE Money for Home Buyers!
CHF Platinum Grant Goodies
3% of Loan Amount
No lien, No Payment, Grant
Can Be Used for Down or Costs
Never paid back
Who Qualifies for Grant Money?
Home Buyers in California
No FTHB Requirement
Must be Owner Occupied
Government Loans Only
Grant Money Program Restrictions
Must Use Approved Lender
Must Use Approved 1st Mortgage
Income Limit Restrictions
Purchase Price Restrictions
Important Limitations
County Income LimitsVaries by County
Purchase Price LimitsAll Counties $417,000
CHDAP
2CalHFA
California Housing Finance Agency
Official State of CA FTHB Program
CalHFA CHDAP Awesomesauce
Only Requires 1% From Buyer!
3% of Purchase Price – Low %
No Payments for life of loan
Can Be Used for Down or Costs
Can be used w/ most programs
CalHFA CHDAP Restrictions
30 Day Escrow Should Be OK
Must Use Approved Lender
Income Limit Restrictions
Purchase Price Restrictions
Must be FTHB – 36 Months
Delays Possible When Busy
Important Limitations
Income for Families 1-8 Members
County Income LimitsVaries by County
Purchase Price LimitsSee follow up email for links
HomePath
3Fannie
HomePath Buyer Assistance
Special Incentives on Fannie REO
HomePath Hype
http://www.homepath.com/incentive/index.html
3.5% Assistance until Oct. 31st
3% Down | No PMI Option*
No Appraisal | No Condo Cert
$1,200 Bonus to Agent
Reduced Competition
FirstLook Buyer Exclusivity
15 DaysAfter that…Investors Welcome!
Special Incentives on Fannie REO
10,576 Homes in California
CHF Rates slightly higher
CHDAP can cause delaysCalHFA recapture tax - 1st TD
HomePath no inspections bad?HomePath no PMI expensive
Costs of Assistance Programs
Nobody likes Surprises
Decision to hire someone should be taken very seriously
Expect character, communication and expertise
Home buying team will educate & inform
Avoid pressure tactics & implied urgency
Does your team specialize in the programs that you are interested in
Hiring A Home Buying Team
Income documents you will needLast 30 days pay stubs for all buyersLast 2 years W2’s for all buyers2 yrs tax returns IF non W2 income or expenses
Asset documents you will need Last 60 days statements for all reserves checking, savings, 401K, stocks, bonds
Tell your loan officer if you plan to use GiftIncorrectly receiving or documenting gift funds could cause delays or problems closing on purchase
Getting Approved for Assistance
Direct Lender specializes in CalSTRS, CalHFA, CHF, HomePath, FHA, VA, USDA, Buyer Assistance
Would like the opportunity to be your lender if you have not already chosen one
We are more than happy to be your “second opinion” if you are already working with someone
If you are not working with an Agent, we can recommend a qualified Real Estate Agent in your area that shares our values and expertise
About Us
Thank You for AttendingIf you enjoyed this class – Tell a friend
Please tell us how we’re doingRead & Write Reviews – tab on home page
Your feedback is greatly appreciated
1-866-667-6724Broadview Mortgage Corporation