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3 Buyer Assistance Programs Available Now
 

3 Buyer Assistance Programs Available Now

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    3 Buyer Assistance Programs Available Now 3 Buyer Assistance Programs Available Now Presentation Transcript

    • Welcome, You’re Early!
      We’ll Get Started in a Moment
    • 3 Buyer Assistance
      Programs you can use Today!
    • Questions & Answers
      Get Answers – Questions Box
      Assistance Experts Standing By
      Interactive Environment
      There are no dumb questions!
      Write this number down in case of technical difficulty
      1-866-667-6724
    • Tax Credit is Gone
      Down 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
    • 1
      CHF
      Grant
    • 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 Limits
      Varies by County
      Purchase Price Limits
      All Counties$417,000
    • 2
      CalHFA
      CHDAP
    • California Housing Finance Agency
      Official State of CA FTHB Program
    • CalHFA CHDAP Awesomesauce
      3% of Purchase Price – Low %
      No Payments for life of loan
      Can Be Used for Down or Costs
      Can be used w/ most programs
      Only Requires 1% From Buyer!
    • CalHFA CHDAP Restrictions
      Must Use Approved Lender
      Income Limit Restrictions
      Purchase Price Restrictions
      Must be FTHB – 36 Months
      Delays Possible When Busy
      30 Day Escrow Should Be OK
    • Important Limitations
      County Income Limits
      Varies by County
      Purchase Price Limits
      See follow up email for links
      Income for Families 1-8 Members
    • 3
      Fannie
      HomePath
    • HomePath Buyer Assistance
      Special Incentives on Fannie REO
    • HomePath Hype
      3.5% Assistance until Oct. 31st
      3% Down | No PMI Option*
      No Appraisal | No Condo Cert
      $1,200 Bonus to Agent
      http://www.homepath.com/incentive/index.html
    • Reduced Competition
      FirstLook Buyer Exclusivity
      15 Days
      After that…Investors Welcome!
      Special Incentives on Fannie REO
    • 10,576 Homes in California
    • Costs of Assistance Programs
      CHFRates slightly higher
      CHDAP can cause delays
      CalHFA recapture tax - 1st TD
      HomePath no inspections bad?
      HomePath no PMI expensive
      Nobody likes Surprises
    • Hiring A Home Buying Team
      • 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
    • Getting Approved for Assistance
      Income documents you will need
      Last 30 days pay stubs for all buyers
      Last 2 years W2’s for all buyers
      2 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 Gift
      Incorrectly receiving or documenting gift funds could cause delays or problems closing on purchase
    • About Us
      • 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
    • Thank You for AttendingIf you enjoyed this class – Tell a friend 
      Please tell us how we’re doing
      Read & Write Reviews – tab on home page
      Your feedback is greatly appreciated
      1-866-667-6724
      Broadview Mortgage Corporation