Los Angeles First Time Home Buyer - Pacific Shores Realty & Mortgage, Inc. Offers Great Rates on First Time Home Mortgages in Los Angeles
Pacific Shores Realty & Mortgage, Inc. Specializing in Los Angeles First Time Buyer Loans, Los Angeles First Time Buyers, Los Angeles First Time Buyer Mortgages
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Many home loan programs have been specifically created for first time home buyers. These loans feature low down payments and approval guidelines that make it easier to qualify. Some of the more popular first time homebuyer programs are listed below. To get started immediately click here for our on-line application.

First Time Buyers Loans
What is a First Time Buyer Loan?
FHA and VA Loans for First Time Buyers
Who is Eligible for a First Time Buyer Loan?
Community Home Buyer Programs
What is Escrow?
Mortgage Credit Certificates

Return to Loan Programs

What is a First Time Buyer Loan? Apply Online
Many people dream of owning a home but the home loan process can be confusing for many first time home buyers. Mortgage lenders offer first time buyers with many home loan options and assist the buyer in finding the best home loan for them. First time home buyer programs can offer lower interest rates, low down payments, or reduced taxes.

FHA and VA Loans for First Time Buyers Apply Online
First time homebuyers often experience the most difficulty amounting a significant down payment and everyone should have the opportunity to buy a home. For this reason the Federal government has developed two loan programs to assist homebuyers that have a little or no down payment. These programs are called the Federal Housing Administration (FHA) and the Veteran's Administration (VA). These programs are not solely intended for first time home buyers; your home loan advisor will be able to determine if you qualify and if so which program is acceptable for your needs. FHA and VA loans can be especially advantageous when combined with a HFA or MCC first time homebuyer program.

Who is Eligible for a First Time Buyer Loan? Apply Online
First time home buyer programs are designed to help borrowers who may not have enough money to pay the full cost of the down payment or the closing costs on a mortgage. These programs make obtaining a mortgage more cost effective. There are even programs specifically for residents of each state. First time home buyer programs are available to those who have not owned a home for the past three years.

Community Home Buyer Programs Apply Online
Community homebuyer programs reduce the down payment the borrower must pay to 3%, which must be the borrower's own funds. The closing costs can be gift funds, a grant, or seller assistance up to 3% of sale price. This type of home loan requires the home buyer to take a class on home ownership in their state. Upon completion of the class, the homebuyer will receive a certificate that reduces the cash requirement and expands the qualification ratios. Community homebuyer programs have been making it possible for many people to have the opportunity to buy a home.

What is Escrow? Apply Online
Escrow is a deposit of funds, a deed or other instrument by one party for the delivery to another party upon completion of an event. In simpler terms, escrow is where the transaction changes hands and prevents the seller from not receiving the money from the sale and prevents the buyer from not receiving the home that was purchased. Escrow is important to both buyers and sellers during the mortgage process.

Mortgage Credit Certificates Apply Online
A Mortgage Credit Certificate or MCC is a certificate awarded by your local government agency authorizing the home loan borrower to take certain federal income tax credits. The credits awarded help to free up funds and make the monthly home loan payments more affordable for the homeowner. First time home buyers are typically the candidates eligible for an MCC but in special cases that you may discuss with your home loan advisor this requirement may be waived. Income and purchase price requirements also vary state to state and should be covered in conversations with your home loan representative.

Los Angeles First Time Buyers Program Apply Online
At Pacific Shores Realty & Mortgage, Inc. our Los Angeles mortgage brokers offer a wide variety of first time buyer programs to Los Angeles first time buyers. First time buyer programs in Los Angeles can make securing a Los Angeles home loan easier and more affordable. Contact your Los Angeles mortgage lenders at Pacific Shores Realty & Mortgage, Inc. to begin your first time buyer loan.

Toll Free: 800.400.0000 Office: 310.478.5005 Fax: 310.478.5686
11022 Santa Monica Blvd., Suite 450, Los Angeles, CA 90025 Email: aj@pacificshoresmortgage.com
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