First Time Home Buyer’s Radio - podcast cover

First Time Home Buyer’s Radio

Scott Short (loanDepot Mortgage - Loan Officer (NMLS#225998))•www.shorthomeloans.com
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You do not need to save up 20% down payment before you buy your home.I will be interviewing Down Payment Assistance program specialists (in Greater Sacramento, Ca) and teach you hacks too.Armed with Knowledge helps you negotiate the best deal for YOU..
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Episodes

CalHFA VA loan program

Conversation with Molly Ellis (CalHFA) all about their VA Home Loan Program

Oct 31, 2019•2 min

Busting Credit Myths

Conversation with Traci Panish ( Partners Credit) Busting Credit Myths

Oct 02, 2019•7 min

Found you money to help you buy your home

Golden State Finance Authority (GSFA) - VA DPA ( Down Payment Asst) is available from GSFA for Purchase transactions as outlined below: DPA Amount: • VA: Up to 4.00% of the First Mortgage Loan amount. Categories eligible for instant Grant (no waiting period after close) FHA or VA Mortgages where borrower has one of the following occupations in California: o Peace Officers, Sheriff, Border Patrol Agents, Correctional Officers and others serving in a Law Enforcement capacity; o Firefighters, CalFi...

Feb 07, 2019•3 min•Season 1Ep. 11

Found you money to help you buy your home

Golden State Finance Authority (GSFA) - USDA Home Loan program with a Grant DPA is available from GSFA for Purchase transactions as outlined below: DPA Amount: • USDA: Up to 4.00% of the First Mortgage Loan amount. Grant forgive after close Occupancy: • Borrower must occupy the residence as their primary residence. • For non-occupant co-borrowers, refer to loan agency guidelines. Eligible Properties: • Single Family (1 -4 Unit) properties ONLY, as allowed per Agency guidelines. • Manufactured ho...

Feb 07, 2019•3 min•Season 1Ep. 11

Found you money to help you buy your home

Golden State Finance Authority (GSFA) FHA: 203(b), 203(b)(2), 203(h), and 234(c); in accordance with FHA guidelines. o Cooperative housing (co-op) is not eligible. o For Energy Efficient Mortgage (EEM) loans, reference section for Platinum “Select” eligibility. DPA is available from GSFA for Purchase transactions as outlined below: DPA Amount: • FHA: Up to 4.00% of the Total First Mortgage Loan amount Minimum Credit Score: 640. Maximum DTI: 45%. Home buyer Education: • Please refer to loan agenc...

Feb 07, 2019•4 min•Season 1Ep. 9

Found you money to help you buy your home

The MyHome Assistance Program (MyHome) is a deferred payment, simple interest rate subordinate loan that may only be used with a CalHFA first mortgage. Your low to moderate income first-time homebuyer can use this loan for down payment and/or closing cost assistance. The MyHome loan provides up to 3.50% of the sales price or appraised value of the property, whichever is less, and must be recorded in second lien position. CalHFA allows qualified homebuyers to layer other down payment assistance l...

Feb 07, 2019•4 min•Season 1Ep. 8

Found you money to help you buy your home

Golden State Finance Authority (GSFA) DPA ( Down Payment Asst) is available from GSFA for Purchase transactions as outlined below: DPA Amount: • VA: Up to 4.00% of the First Mortgage Loan amount. Categories eligible for instant Grant (no waiting period after close) FHA or VA Mortgages where borrower has one of the following occupations in California: o Peace Officers, Sheriff, Border Patrol Agents, Correctional Officers and others serving in a Law Enforcement capacity; o Firefighters, CalFire, p...

Feb 05, 2019•3 min•Season 1Ep. 10

Found you money to help you buy your home:

The CalHFA Energy Efficient Mortgage (Cal-EEM + Grant) loan program combines an FHAinsured first mortgage (Cal-EEM) loan with an additional grant (EEM Grant), allowing energy efficient improvements over and above the FHA maximum allowable EEM loan amount. The EEM Grant is only available with the Cal-EEM first mortgage. The EEM Grant is for up to 4% of the first mortgage total loan amount, including Up Front Mortgage Insurance Premium (UFMIP). The EEM Grant can be used towards the HERS Report neu...

Feb 02, 2019•3 min•Season 1Ep. 7

Found you money to help you buy your home

Interviewing Kyle Vaughn with Genworth Mortgage Insurance (Exclusive PMI provider for CalHFA home loans) This episode we are discussing the 7 ways to structure PMI (Private Mortgage Insurance) on your CalHFA Conventional Home loan. Let me know what you think and if you have someone special i should interview.. Thanks

Jan 24, 2019•4 min•Season 1Ep. 6

Found you money to help you buy your home

Interviewing Molly Ellis (Lender Training Specialist with CalHFA) In this episode we are discussing CalHFA Conventional Loan program. - This program is for First Time Home Buyers or Non First Time Home Buyers The CalHFA Conventional program is a Fannie Mae HFA Preferred™ fully amortized thirty (30) year fixed interest rate first mortgage. This loan is combined with either the MyHome Assistance Program (MyHome) or the School Teacher and Employee Assistance Program (School Program). CalHFA defn: F...

Jan 21, 2019•3 min•Season 1Ep. 5

Found you money to help you buy your home

Interviewing Molly Ellis (Lender Training Specialist with CalHFA) In this episode we are discussing CalHFA Schools Program: Down Payment Assistance - for First Time Home Buyers The School Teacher and Employee Assistance Program (School Program) is a deferred payment, simple interest rate subordinate loan that is combined with a CalHFA first mortgage. Your low to moderate income first-time homebuyer can use this loan for downpayment and/or closing cost assistance. The School Program loan provides...

Jan 21, 2019•3 min•Season 1Ep. 4

Found you money to help you buy your home

Interviewing Molly Ellis (Lender Training Specialist with CalHFA) In this episode we are discussing CalHFA Conventional CalPlus / ZIP program : - this program is for First Time Home Buyers The CalPLUS Conventional program is a Fannie Mae HFA Preferred™ fully amortized thirty (30) year fixed interest rate first mortgage. This loan is combined with the CalHFA Conventional Zero Interest Program (ZIP) for closing cost and/or prepaid items only. The Conventional ZIP second loan is only available with...

Jan 21, 2019•1 min•Season 1Ep. 3

Found you money to help you buy your home

Interviewing Molly Ellis (Lender Training Specialists with CalHFA) In this episode we are discussing CalHFA FHA program. - For First Time Home Buyers and Non First Time Home Buyers The CalHFA FHA program is an FHA-insured loan featuring a CalHFA fixed interest rate first mortgage. This loan is fully amortized for a thirty (30) year term and can be combined with either the MyHome Assistance Program (MyHome) or School Teacher and Employee Assistance Program (School Program). CalHFA defn: First Tim...

Jan 21, 2019•2 min•Season 1Ep. 2

Found you money to help you buy your home

Interview with Molly Ellis (Lender Training Specialist for CalHFA ) : In this episode we discuss CalHFA FHA CalPlus/ZIP loan financing - for First Time Home Buyers. - The CalPLUS FHA loan program is a fully amortized thirty 30-year fixed interest rate FHA-insured first mortgage. This loan is combined with the CalHFA Zero Interest Program (ZIP) for closing cost and/or prepaid items only. The FHA ZIP second loan is only available with CalPLUS and is a silent second loan for either 3.00% or 4.00% o...

Jan 21, 2019•2 min•Season 1Ep. 1