First time home buyer mortgage
by Cristina P
Dear Mr. Ragan,
I sent an email to a CALFHA top preferred loan officer. Here's what i wrote to him:
Good Afternoon Mr....,
I chanced upon your information at Cal HFA website when i was looking at requirements and qualifications re first time homebuyer assistance program.
I'm planning to buy a small property, probably about $200k worth. I want to know about HUD, government mortgage program, etc.
I'm a public classified school employee, I work 10 months a year and my yearly income is only about 35k. I don't have money to put in as down payment.
Presently, if i will combine all my loans, I have already paid 30% more or less. I am living with my 19 year old son. He is a full-time college student and has a part time job, Last year, he earned an annual income of 10k, but this year it will be a lot less since he is concentrating on school.
I have already attended the first time homebuyer seminar early this year. Please let me know if there's a government assistance program or any other program that can help me with my plan. Also, i know percentage of paid off loan changes, please update me on this.
Hope to hear from you soon.
Cristina V P
I waited for two days, when i still didn't get a reply, i wrote an email to CALFHA and ask for their suggested loan officer. The loan officer replied after 2 days, asking me to call him.
Meanwhile, the top loan officer's assistant replied to my email after 5 days, giving me a list of things that i need to submit to pre-qualify for a loan together with an attached application form.
I got nervous, and in my mind, i was thinking, should i just go to one i trust - my bank, Schools First, i called and got a voice message telling me to leave my name and number and he will call me asap.
That was early morning and i waited the whole day, to no avail. I just want my questions answered before i move forward, because i'm still waiting for my paycheck so i can pay my monthly obligations before proceeding with this plan of mine.
Reason is because they might want to check my credit score right there and then.So i searched and searched online till i found you. I'm in the dark about the ins and outs of buying a house but i would like to do that this year.
Please answer my questions and help me understand better.
Thank you, Sir!