Sacramento First Time Home Buyers Bought Homes With $1500 Out-Of-Pocket, And Their Friends Asked Them How They Did It.
With 100% Down Payment Assistance, you can get up to $26,726, which can buy a $763,600 home, but the $1,500 out-of-pocket is for your Earnest Money Deposit and home inspection fees. You are a First Time Home Buyer again after 3 years from the date that you sold a home. When you rent, you’re still paying a mortgage. Your landlord’s. Rent for a home in Sacramento, CA is skyrocketing to soaring heights, and the rent is similar to a mortgage payment for a starter home in Sacramento, CA.
Sacramento First Time Home Buyer Programs & 100% Down Payment Assistance Is Available Here With Tracy Fig.
Hi there! I’m Tracy Fig, Sacramento Realtor and I absolutely love the 100% Down Payment Assistance Program because my husband Michael and I bought our first home in 2001 with the Sacramento First Time Home Buyer program. Back then, we were able to lower the current interest rate by 3%, which many new home builders in Sacramento, CA are offering home buyers today, but new home builders require that I register my buyers on the first visit to the model homes because they’re technically the Seller’s Agent. For my home buyers who want to purchase a home that’s already built, many home sellers will pay the cost to lower the interest rate, which lowers the monthly payment by hundreds of dollars. Plus, you can get 100% Down Payment Assistance, too!
Question #1: Do You Qualify For Up To $26,726 In 100% Down Payment Assistance?
You must be a First Time Home Buyer in California and you’re a First Time Home Buyer again after 3 years from the date that you sold a home.
- Credit score of 660, or better.
- Job history for 2 years and does not have to be with the same employer.
- No late payments on your credit report for 1 year.
Question #2: What’s The Catch With Sacramento First Time Home Buyer Programs?
There isn’t a catch. The interest rates are low and fixed for the entire life of the 30-year home loan. The interest rate is the same for every Sacramento First Time Home Buyer and for transparency, you can check the current interest rate posted at the California Housing Finance Agency (CalHFA).
CalHFA home buyers must complete a homebuyer education course and obtain a certificate of completion through an eligible homebuyer program. To get approved for 100% Down Payment Assistance, receive your homebuyer education certificate, and obtain your home loan, call Tracy Fig, Sacramento Realtor for First Time Home Buyers on her cell phone at 916-628-SELL (7355). I’m excited for us to talk soon!
Question #3: Is There A Deadline For Sacramento First Time Home Buyer Programs?
The 100% Down Payment Assistance money comes from bonds and the money comes and goes. The MyHome 100% Down Payment Assistance program is still available, but the deadline for the California Dream For All program ended on April 29, 2024. If you’re renting a home in Sacramento, CA, get approved while the money is still there.
Question #4: How To Pay Less In Taxes By Lowering Your Taxable Income?
The rewards of owning a home are the tax benefits because you can deduct the home mortgage interest to lower your taxable income on your tax return. The limit to deduct the interest on your mortgage is $750,000 ($350,000 if married, filing separately).
Question #5: What Types Of Homes Can You Buy With 100% Down Payment Assistance?
- Single-family homes.
- Approved condominiums, which must meet the guidelines of 80% owner-occupied.
- Planned Unit Development properties (PUDs).
- Guest homes, granny units and in-law quarters may be eligible.
- Manufactured homes located on land, but not located in mobile home parks.
Question #6: Who Are The Best CalHFA Approved Lenders For Your Home Loan?
When you are approved for 100% Down Payment Assistance, your home loan must be originated by a CalHFA approved lender only. Call Tracy Fig, Sacramento Realtor for First Time Home Buyers on her cell phone at 916-628-SELL (7355) to get connected with CalHFA loan officers in Sacramento, CA.
Question #7: What Are The CalHFA Income Limits To Qualify For 100% Down Payment Assistance?
Income Limits For Sacramento and Surrounding Counties:
- Sacramento County: $225,000
- El Dorado County: $225,000
- Placer County: $225,000