If you are applying for a new home purchase loan, San Diego, you may find the process daunting – not to mention the anxiousness it creates as you wonder on whether or not you are making the right decision – most especially if it is your first time. However, if you are armed with the right information, you should be okay.
In this post, we are sharing some information particularly for those who are planning to get a new home purchase loan, San Diego. Taking the items below into consideration will surely help you make the most appropriate decision.
So, without further ado, here below are some of the items that you need know:
San Diego Housing Commission is a public housing agency that offers various services including deferred loans, homeownership grants, and mortgage credit certificates. Such services are designed particularly to help low- and moderate-income families who are planning to buy their first homes.
Aside from the above-mentioned services, the SDHC also administers first-time home buyer down payment and closing cost assistance.
1. Determine your qualification by reviewing San Diego’s Area Median Income (AMI); your household annual gross income (before taxes) does not exceed the limit for your family size (note: the income of all adult household members are included in the computation)
2. If you qualify above, the next thing you need to do is to review the program and guidelines.
3. Find a loan officer from the participating lenders (contact us here at HomePlus for assistance); loan officers are a point of contact; they can assist you from pre-approval to loan closing. Please note as well that they are the ones who collect all the documentary requirements and submit the application on your behalf to SDHC.
4. Attend a homebuyer education course with an SDHC approved provider.
5. Find and work with a real estate agent to begin your property search
Have more questions about some other good options for a new home purchase loan, San Diego? HomePlus is readily available to help you find the best option for you.
Contact us to get started at (800) 958-7587.