The City of Santee has established a program designed to provide assistance to low income first-time home buyers. The program can assist with the purchase of a new or existing home within the City. For information contact:. See income limits. For more information please contact the Department of Finance, Housing Services Division ext. Terms are subject to change. If you believe you have been a victim of discrimination, contact the U.
The Center for Social Advocacy www. Program Description The City of Santee has established a program designed to provide assistance to low income first-time home buyers. The home must be your principal residence. You must not have owned a home within the last three years. You should apply for a Mortgage Credit Certificate concurrently to reduce your monthly housing costs. Call for more information.
Borrower cannot own any real property. Homes may be either single-family, condominiums or town-homes. The home must be vacant or owner occupied upon execution of the purchase offer. To learn more about this program, visit the San Diego County website. The California Housing Finance Agency offers up to 3.
The funds are provided as a deferred payment loan, which does not have to be paid back until you sell the home. To learn more about this program, visit the California Housing Finance Agency website.
A loan representative can help you determine what mortgage programs you may qualify for, and also check your eligibility for down payment assistance. If you would like to receive a free consultation, we can help match you with a mortgage lender that offers first time home buyer loans in California.
How much do I need for a down payment? The minimum down payment requirement will depend on the type of mortgage program. FHA loans only require a 3. What is the maximum loan amount that I can qualify for? The amount that you will be allowed to borrow will depend mostly on your income, as well as the particular type of loan you are interested in.
There are maximum loan limits for each type of mortgage program which are set at the county level. Conforming loan limits are the maximum loan amounts allowed for conventional mortgages. FHA loans have their own loan limits. This is not necessarily how much you can borrow though, but the maximum amount allowed in your location. The amount that you can personal qualify for will be based upon your income, and how much debt you have.
Can I buy a home without a real estate agent? It depends on your state and the type of loan program. For some states, you must use an agent. In other states, you are not required to use a real estate agent for many loan program, such as conventional mortgages. However, some loan types require that you use a real estate agent regardless of your location, such as USDA loans. Are there mortgage loan options for borrowers with bad credit?
Yes, both FHA loans and non-prime loans are available to borrowers with lower credit score, and other credit challenges. The minimum credit score required for an FHA loan is For non-prime loans, there are lenders that allow a borrower to have a credit score even below Non-prime loans also do not have any waiting periods after a bankruptcy. Can I buy a home if I owe tax debt? Any federal debt must be in good standing in order to get a government-based mortgage.
If your tax debts have moved into the status of a tax lien, this will prevent you from getting a home loan until it is resolved. Can I buy a home if I have student loans?
As long as you are not delinquent on the student loan payments, and the monthly payments do not cause excessive debt-to-income ratios, you can still get a mortgage. Can I buy a home without my spouse? A common question is if you can buy a house without your wife or husband. The short answer is yes. There are numerous reasons someone may want to exclude their spouse from a mortgage application, such as lower credit, lack of job history or income, or one spouse having excessive debt that could prevent an approval.
You may be able to qualify and get a home loan without your spouse. How do I find out if I qualify for a mortgage? It is easy to find out what mortgage programs you may qualify for.
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