So we had the joy of sitting with a really great couple over the weekend. This husband and wife were reviewing an offer that came in over the weekend on the home we are selling for them. We got to the part about the buyers loan, and they were really surprised how easy it was for this first time home buyer to finance their home. The buyer is using and FHA home loan with a very small down payment, and they are getting a super low interest rate in the low 5% range.
So, do YOU qualify for this great loan? Here are the details...
In San Bernardino and Riverside county, the loan limit is $500,000.
In Los Angeles and Orange county, the loan limit is $729,750
FHA loans require a minimum 3.5% down payment. This money can be a gift. Yep, mom and dad can give you the money to move out of their house!
FHA allows a seller contribution up to 6%. That means the seller of the house can pay nearly all of the costs associated with your home purchase.
FHA does not require you to have gobs of money in the bank.
FHA allows a non-occupant co-borrower for a single family home.
If you want to know how easy it is to buy your dream home, call us. No cost, no obligation.
Thanks,
Liane Thomas, REALTOR(R)
The Thomas Group, Keller Williams Realty
951 454-3805
www.AllCoronaHomes.com