Mortgage lender for first time home buyer

1
Mortgage Lender for First Time Home Buyer
in California

• Labeling a First Time Home Buyer (FTHB) will vary
  as it relies on the government provisions the
  FTHB would need as a benefit. The U.S. Department
  of Housing and Urban Development (HUD)
  identifies an FTHB as anyone who fulfills the
  below-given criteria
• Anyone (individual) who did not possess a
  principal residence through the span of 3 years.
  Here the end of such period would be the date of
  purchase of a new property. (This takes into
  account the spouse also!)
• Others would include single parents or displaced
  homemakers who were owners of a house along with
  the former spouse or spouse in the permitted
  period (3 Years).
• An individual house owner of a principal home not
  perpetually attached to a permanent groundwork
  in harmony with relevant conventions or
  regulations.
• Purchasing a house in California can be
  overwhelming and the price can be exorbitant.
  Some of the available Mortgage Loan Programs for
  Californian FTHBs are CalHFA FHA Loan Program. It
  is an FHA-insured loan comprising of CalHFA and
  a fixed interest rate for 30 years on the first
  mortgage. Others are CalPLUS FHA Loan Program,
  CalHFA USDA Program, CalHFA VA Loan Program,
  MyHome Assistance Program, and CalPLUS
  Conventional Loan Program. Down payment in CA
  could vary from 3.5 to 10 (On Home Value)
  contingent on the credit score. Lower the credit
  scores higher the down payment. The average
  required credit score is 730 a credit score less
  than 580 could make the down payment up to 10.
  In the case of a VA guaranteed home loan the down
  payment is eliminated. Some of the best mortgage
  lenders for an FTHB in CA for the year 2021 are
  BBT Movement Mortgage Rocket Mortgage Low
  rates.com and Guild Mortgage Carrington
  Fairway Ally Bank of America PMC Caliber and
  Chase. Loans may be conventional funded by
  Fannie Mae or Freddie Mac FHA loans where the
  down payment will depend on the credit score VA
  loans for veterans USDA loans (Rural/ low
  income) and HUD programs for police teachers
  and fire-fighters. Californian Association of
  Realtors report 2021 confirms a "Good Time to
  Buy"!!

1 P a g e