Did you hear the news today, first-time home buyers, the California Association of Realtors, yes that is us Realtors, understands one of the major hurdles you have towards purchasing your first home is security with your job.  With that hurdle in mind, a new program was been introduced.

The program is called the C.A.R. Housing Affordability Fund Mortgage Protection Program (C.A.R.H.A.F. MPP) and provides first-time home buyers who lose their jobs due to layoffs may be eligible to receive up to $1,500 per month for up to six months to help make their mortgage payments. A qualified co-buyer also can participate in the program, for a reduced monthly benefit of $750 per month for up to six months in the event of a job loss. Program benefits also include coverage for accidental disability and a $10,000 death benefit. C.A.R.'s Housing Affordability Fund is dedicating $1 million to the program this year, and estimates that as many as 3,000 families will benefit from the program throughout 2009.   

To qualify for the Mortgage Protection Program, applicants must:
. Be a first-time home buyer - someone who has not owned a home in the last three years
. Open escrow April 2, 2009, or later, and close on or before Dec. 31, 2009
. Use a California REALTOR® in the transaction
. Purchase the property in California
. Be a W-2 employee (cannot be self-employed or military personnel)

OK, are you paying attention, that is unheard of security, for the one thing that is probably holding you back the most.  What else could be, home pricing is down to 2003 levels, interest rates are down to historic levels, you have the opportunity to receive a $8000.00 tax credit plus and banks are opening up their credit lines.  Now is the time buy!

The next step is to find a Realtor who works with First-time buyers and understands your hesitations but more importantly understands your ultimate goal to buy your first home.  A Realtor who's business plan includes first-time buyers, is willing to pound the pavement with you, hold your hand and ensure you have a clear understanding of what is required to make your dream become a reality.

Kelly Turbevilleis a leading real estate professional in the Saddleback Valley, who's passion is working with First-Time Buyers.  There is nothing better then handing a first time home buyer the key's to their first home.  Should you be considering taking the steps towards home-ownership, then give Kelly a call, she is a trusted source to turn to.

The above information is deemed reliable but not guaranteed