Tag Archive for: down payment

CHDAP: Buying $400,000 Home with $2,000 Out of Pocket; 1/2% Down

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We just approved two buyers this week for our CHDAP (California Homebuyers Down Payment Assistance Program), and it reminded us to blog about the program. CHDAP allows buyers to purchase […]Read More

Refi Options Now Better Than Ever; Values Up; Rates Down

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With values higher than they were a year ago (especially in certain areas) and with rates shockingly low once again, every buyer who puts down less than 20% should evaluate […]Read More

Realtor Commissions Credited for Closing Costs & Down Payment (Gift)

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Realtors can credit their commissions toward recurring and non-recurring closing costs. This is well-known. What many Realtors do not know is that they can “gift” all or a portion of […]Read More

Using Lender Credits For Closing Costs; Just Need Down Payment

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We had a borrower come to us over the weekend who wanted to buy a $400,000 home with FHA financing, and she had exactly $14,000 for a down payment (just […]Read More

How To Know If Your Buyer Is Viable

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We often have Realtors with eager buyers who want to view homes before the buyers have been pre-approved by us. To ensure no time is wasted on non-viable buyers, Realtors need to ask a few questions about the criteria that make buyers viable: (1) Credit; (2) Income; (3) Equity – Down Payment.Read More

Almost Anybody Can Be a Relative for “Gifting” Purposes

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We repeat this often b/c such a large proportion of our borrowers purchase properties with “gift funds” for down payments and closing costs. A “donor” or a person gifting funds […]Read More