| Welcome to HalfDownHomes.com Your One Stop for Your Down Payment Assistance Needs |
Frequently Asked Questions about Down Payment Assistance Programs
What are the basic things I need to qualify?
-Minimum of a 580 Credit Score
-You cannot have any Bankruptcies in the last 2yrs
-You cannot have any Foreclosures, Short Sales or Loan Mods in the last 3 years
-You Must Be a First Time Home Buyer (Which Means You Haven't Owned a Home in the Last 3yrs)
(Note: Not Everyone with the above will qualify. You still Must go through the full Loan Approval Process)
What type of Loan Programs are These?
There are two Main Types of "Half Down" Down Payment Assistance Programs.
One is called the "CalHFA" Down Payment Assistance Program and the Other is Called the "Access" Half Down Program
They are both Standard 30yr Fixed 1st mortgage with an additional 3% Down Payment Assistance added to Help you with your
Down Payment
The CHDAP 3% Assistance and the Access 3% Assistance are Both Loans.
Down Payment Examples:
-If the Purchase Price is $100,000...The Down Payment is Only $500
-If the Purchase Price is $150,000...The Down Payment is Only $750
-If the Purchase Price is $200,000...The Down Payment is Only $1000
-If the Purchase Price is $250,000...The Down Payment is Only $1250
-If the Purchase Price is $300,000...The Down Payment is Only $1500
Important Details About the Mortgage:
-The 1st Mortgage Has to Be Paid Back Over 30yrs.
-You have to apply for a loan, send us documentation, and qualify for the loan.
-Not everyone will qualify.
-We use standard FHA Guidelines to qualify you.
-The loan process takes about 30 days to close.
If I got this Down Payment Assistance, How much TOTAL would I need out of pocket?
This is going to have a two part answer. One Example will be with Closing Costs and One will be without the Closing Costs
(Sometimes the person selling the house is willing to pay for some or all of your closing costs)
$200,000 Example without Closing Costs Paid by the Seller:
-Down Payment: $7,000
-Down Payment Assistance of 3%: (-)$6000
-Approx. Closing Costs: $7000
Approx. Total Needed to Close (Without the Seller Paying Any Closing Costs): $8000 ($14,000 without Down
Payment Assistance)
$200,000 Example with 3% of the Closing Costs Paid by the Seller:
-Down Payment: $7,000
-Down Payment Assistance of 3%: (-)$6000
-Approx. Closing Costs: $7000
-Seller Credit of 3%: (-)6000
Approx. Total Needed to Close (With the Seller Paying 3% of Your Closing Costs): $2000 ($8,000 without Down
Payment Assistance)
Is this 3% Down Payment Assistance a Loan?
The 3% Down Payment Assistance IS A LOAN. It can have a rate as low as 3.5% depending on your credit. Wow! Thats less than
most of your credit cards.
Do I Need to Be A First Time Buyer?
No
Do I need to buy specific homes or can you buy any home available for sale?
You do not have to buy specific homes. As long as the home is in California and it qualifies for FHA financing, you can buy it with
this program. WOW! That's a lot of homes?
Whats the catch?
There is no catch.
Do other banks and Lenders Have "Down Payment Assistance Programs"?
Yes...Other Banks and Lenders Do Offer this program.
There are a couple of things to keep in Mind:
-Just because other companies offer the Down Payment Assistance Program, this does not mean that EVERY Loan Officer Knows
how to work with these programs.
-This program can take a long time to close if a Loan Officer Doesn't have experience with this program.
-Do you really want someone without experience with Down Payment Assistance Programs to use your transaction as a learning
experience?
No Way!
When it comes to get Pre-Approved for an FHA loan with Down Payment Assistance, Trust a Professional with Tons of Experience
with Down Payment Assistance... AL "the Loan Guy" Rivera
What do I need to do to get started?
It's Easy.
Simply Click on the "Get Started Now" Button Below to apply for a Home Loan with Down Payment Assistance Today.
It Takes Only 15 minutes to Apply and You Get Your Results Within 24hrs
Once I Get Pre-Approved and Find a House, How Long Do These Take to Close From Beginning to End?
When you find a home and open escrow...it takes us about 30 days or less to close the loan.
Once I fill out my application Online, Can I make an appointment to meet with you and bring in my documents?
Absolutely, after you fill out your online application, please put together ALL of your documentation that we ask for and make an
appointment at our "Down Payment Assistance Headquarters".
Cerritos, CA (By Appointment Only)
17777 Center Court Dr Suite 275
Cerritos, CA 90703
With such a great program like this...What Are You Waiting For?
(THIS PROGRAM IS AVAILABLE IN CALIFORNIA ONLY)
What are the basic things I need to qualify?
-Minimum of a 580 Credit Score
-You cannot have any Bankruptcies in the last 2yrs
-You cannot have any Foreclosures, Short Sales or Loan Mods in the last 3 years
-You Must Be a First Time Home Buyer (Which Means You Haven't Owned a Home in the Last 3yrs)
(Note: Not Everyone with the above will qualify. You still Must go through the full Loan Approval Process)
What type of Loan Programs are These?
There are two Main Types of "Half Down" Down Payment Assistance Programs.
One is called the "CalHFA" Down Payment Assistance Program and the Other is Called the "Access" Half Down Program
They are both Standard 30yr Fixed 1st mortgage with an additional 3% Down Payment Assistance added to Help you with your
Down Payment
The CHDAP 3% Assistance and the Access 3% Assistance are Both Loans.
Down Payment Examples:
-If the Purchase Price is $100,000...The Down Payment is Only $500
-If the Purchase Price is $150,000...The Down Payment is Only $750
-If the Purchase Price is $200,000...The Down Payment is Only $1000
-If the Purchase Price is $250,000...The Down Payment is Only $1250
-If the Purchase Price is $300,000...The Down Payment is Only $1500
Important Details About the Mortgage:
-The 1st Mortgage Has to Be Paid Back Over 30yrs.
-You have to apply for a loan, send us documentation, and qualify for the loan.
-Not everyone will qualify.
-We use standard FHA Guidelines to qualify you.
-The loan process takes about 30 days to close.
If I got this Down Payment Assistance, How much TOTAL would I need out of pocket?
This is going to have a two part answer. One Example will be with Closing Costs and One will be without the Closing Costs
(Sometimes the person selling the house is willing to pay for some or all of your closing costs)
$200,000 Example without Closing Costs Paid by the Seller:
-Down Payment: $7,000
-Down Payment Assistance of 3%: (-)$6000
-Approx. Closing Costs: $7000
Approx. Total Needed to Close (Without the Seller Paying Any Closing Costs): $8000 ($14,000 without Down
Payment Assistance)
$200,000 Example with 3% of the Closing Costs Paid by the Seller:
-Down Payment: $7,000
-Down Payment Assistance of 3%: (-)$6000
-Approx. Closing Costs: $7000
-Seller Credit of 3%: (-)6000
Approx. Total Needed to Close (With the Seller Paying 3% of Your Closing Costs): $2000 ($8,000 without Down
Payment Assistance)
Is this 3% Down Payment Assistance a Loan?
The 3% Down Payment Assistance IS A LOAN. It can have a rate as low as 3.5% depending on your credit. Wow! Thats less than
most of your credit cards.
Do I Need to Be A First Time Buyer?
No
Do I need to buy specific homes or can you buy any home available for sale?
You do not have to buy specific homes. As long as the home is in California and it qualifies for FHA financing, you can buy it with
this program. WOW! That's a lot of homes?
Whats the catch?
There is no catch.
Do other banks and Lenders Have "Down Payment Assistance Programs"?
Yes...Other Banks and Lenders Do Offer this program.
There are a couple of things to keep in Mind:
-Just because other companies offer the Down Payment Assistance Program, this does not mean that EVERY Loan Officer Knows
how to work with these programs.
-This program can take a long time to close if a Loan Officer Doesn't have experience with this program.
-Do you really want someone without experience with Down Payment Assistance Programs to use your transaction as a learning
experience?
No Way!
When it comes to get Pre-Approved for an FHA loan with Down Payment Assistance, Trust a Professional with Tons of Experience
with Down Payment Assistance... AL "the Loan Guy" Rivera
What do I need to do to get started?
It's Easy.
Simply Click on the "Get Started Now" Button Below to apply for a Home Loan with Down Payment Assistance Today.
It Takes Only 15 minutes to Apply and You Get Your Results Within 24hrs
Once I Get Pre-Approved and Find a House, How Long Do These Take to Close From Beginning to End?
When you find a home and open escrow...it takes us about 30 days or less to close the loan.
Once I fill out my application Online, Can I make an appointment to meet with you and bring in my documents?
Absolutely, after you fill out your online application, please put together ALL of your documentation that we ask for and make an
appointment at our "Down Payment Assistance Headquarters".
Cerritos, CA (By Appointment Only)
17777 Center Court Dr Suite 275
Cerritos, CA 90703
With such a great program like this...What Are You Waiting For?
(THIS PROGRAM IS AVAILABLE IN CALIFORNIA ONLY)
| If you would like to Get Pre-Approved for a Home Loan with Down Payment Assistance Click Below It Only Takes 15 Minutes or If you are Not Ready to Get Pre-Approved and Would Still Like More Information Please Fill Out the Request Below Important Note: Please Be Specific with What Type of Information You are Requesting) |
| The Most Trusted Down Payment Assistance Preferred Lender |
AL "the Loan Guy" Rivera Email: al@altheloanguy.com HomeBuyers Call: (909) 280-2799 Real Estate Agents Call: (562)587-5284 NMLS ID: 260314 |
| AL "the Loan Guy" Rivera Cerritos, CA 17777 Center Court Dr Suite 275 Cerritos, CA 90703 Direct (562)587-5284 NMLS ID# 260314 |
| Would You Like to Buy a House? Is the Only Thing Stopping You is the Down Payment? |
| In 30 Seconds or Less... I will Explain How this Works and How You Can Get Down Payment Assistance? How it Works: We Approve you for a 30yr Fixed FHA Loan. A 30yr Fixed FHA Loan Requires 3.5% Down. So to Help you with that Large 3.5% Down Payment... We Help You Get 3% Worth of Assistance to Use Towards that 3.5% Down. Which Means You Only Need the 1/2% Down Examples: $150,000 Price = Only $750 Down! $200,000 Price Only $1000 Down! $250,000 Price = Only $1250 Down! $300,000 Price = Only $1500 Down! What are the Basic Guidelines to Qualify? -580 Credit Score -You Do Not Have to Be a 1st Time Buyer -You Must Occupy the House -No Bankruptcies in the Last 2yrs -No Foreclosures, Short Sales, or Loan Mods in the Last 3yrs If You are Buying a Home and Putting 3.5% Down or More... Why don't you Check With Us First to See if We Can Get You Help with Your Down Payment? Read Below For More Info |