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First-time Homebuyers

Solcosta Home Loans mortgage brokers can help guide you through the home buying process from start to finish. If you have never owned a home before, the thought of becoming a homeowner may seem daunting or intimidating. Perhaps you have heard horror stories from friends or families whose loan experience was a headache throughout the entire process. At Solcosta Home Loans, we love working with first-time homebuyers and we take pride in educating and guiding you from the moment you first contact us all the way until the day you get your keys and beyond.

Our variety of loan options will allow you to buy your first home with very little money down and we will work to ensure that your monthly mortgage payment stays within your comfort zone.

 

Loan Programs that are great for first-time homebuyers:

FHA Loan – Although being a first-time homebuyer is not a requirement of an FHA loan, this loan makes a lot of sense for many first-time buyers. FHA loans start with as little as 3.5% down and offer more flexible and lenient credit requirements and underwriting guidelines.

3% Down Conventional Loan – There is a common misconception that conventional loans require a 20% down payment, but this is not the case. There are conventional loans such as Fannie Mae’s HomeReady and Freddie Mac’s Home Possible that allow you to put down as little as 3% with discounted mortgage insurance (PMI). We understand that it is often difficult for a first-time homebuyer to have 20% saved for a down payment!

Grant and Down Payment Assistance Programs – Depending on your situation and goals, a grant or down payment assistance program may be a good fit for you! These loan programs typically offer to cover some or all of your down payment, but often come with a higher interest rate or other stipulations.

Not sure which loan program is right for you? That’s okay, you don’t need to have all of the answers – that’s what we are here for! Contact us to learn more or apply now and find out which programs you will qualify for!

 

Working with Solcosta Home Loans

  • Since we are a mortgage broker and not a bank, we have the ability to shop multiple lenders to get you the best deal possible.
  • We offer a wide variety of loan products, and we can help you find the loan that is right for you!
  • We are fast and efficient and have the ability to close most of our loans in 18 days or less.
  • We are locally owned and operated in the San Francisco Bay Area. That means when you call or email us, you will be speaking with us directly.
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