In the entertainment capital of the world, the sun is always shining, and opportunity abounds. Once you find your niche in the city’s thriving economy, you’ll be able to take advantage of all the area has to offer. If there is one word that can sum up the entire metropolitan area, it is probably “diversity.” LA is home to a diverse populace, and each neighborhood has its own distinctive character. That means that you have a lot of choices when you’re looking for a home.
While those choices can open the door to a bright future in LA, they also can come with a sea of questions:
What neighborhood is ideal for me and my family?
What type of mortgage will I need to purchase the home of my dreams?
What if I cannot afford the down payment?
How can I be sure my home will still be affordable later down the line?
I am here to answer all of these questions and more.
I love working with first time homebuyers, and I have helped so many customers over the years to move into beautiful homes and neighborhoods in LA. There truly is a loan which is ideal for every customer, and as your Los Angeles mortgage broker, I am dedicated to finding you yours.
As you shop for your first home, you may find yourself needing some help affording your down payment. You also might still not have an ideal credit score, and may be concerned about whether that will hold you back from finding an affordable loan.
Thankfully, there are programs at both the local and national levels to make homeownership more affordable to first time homebuyers.
Affordable Homeownership Program
This program is offered through the Community Development Commission of the County of Los Angeles. It is targeted specifically at first time homebuyers whose income does not exceed certain maximum annual caps.
California Housing Finance Agency MyHome Assistance
MyHome is the state’s down payment assistance program, which may be paired with a CalHFA first mortgage loan.
California Housing Finance Agency CalPLUS with ZIP
Through this program, you can get assistance with closing costs.
CalPlus School Teacher and Employee Assistance Program (School Program)
Do you work in education? This state program was designed especially for those in the educational sector who are shopping for their first home. It can help to pay for closing costs and/or the down payment on a home.
Cal-EEM + Grant Program
This program is open both to first time homebuyers and repeat homebuyers. It can be used to make a home more energy-efficient.
An FHA loan insured by the Federal Housing Administration is an ideal loan option for first time homebuyers. Depending on your credit score, your down payment on your first home could be just 3.5%. FHA loans also offer low interest rates, making them a favorite choice for first time and repeat homebuyers.
If the home you are buying is in a “rural” area as designated by the US Department of Agriculture (USDA), you may qualify for a USDA-insured loan with zero down payment, low interest rates, and additional benefits.
One of the most exciting programs available to first time homebuyers is the VA loan program insured by the Department of Veterans Affairs (VA). As an eligible veteran, active duty service member, or surviving spouse, you could move into your first home in Los Angeles with zero down and no PMI requirement.
Do you qualify for any of these first time homebuyer programs?
When you meet with me for your consultation, we can review your financial details and find out.
I am passionate about helping out first time homebuyers. I love the diverse people who make LA such a unique place, and I can’t wait to welcome you to our community.
It is my belief that for every customer, there is an ideal loan. I will strive tirelessly to help you clear any barriers which are in your way, and will find you a loan which is structured to help you achieve your goals.
I love questions—answering them and asking them. Whatever questions you have about the mortgage process, fire away. I gladly will take my time to help you understand every aspect of applying and paying on a home loan. I’ll be asking you questions in return to find out all about your needs and goals.
Saving you money while making the home loan application process as fast, smooth and easy as possible is one of my top priorities. I’ll focus on matching you with the ideal loan so that you can focus on picking out the home of your dreams.
Ready to move into your first home in LA? Let’s make it happen. To apply for your first mortgage, please give me a call now at (818) 601-2231, to set up your consultation. I look forward to meeting you and helping you to find an affordable and flexible home loan!
Shannon Christenot is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.