Why Rent when you can buy with 1% down payment...even Uncle Sam wants you to buy now!

By
Real Estate Broker/Owner with Independent Real Estate Broker DRE#00972295

Why Rent when you can buy with 1% down payment...even Uncle Sam wants you to buy now!  Uncle sam wants you to buy a house

There are many government home loan programs to help you buy a home in the Los Angeles county.  

Every locality has different loan programs and I am sure there is one for you.  If you live in the Los Angeles county area and want to own a home but don’t have 20% down payment you can still buy now with these new government loan programs.  

Interest rate are at an all-time low and home prices are down, who knows how long this will be.  To have both interest rates and home prices down is unheard of and no one knows how long they will last.  If you are waiting for home prices to hit rock bottom, rock bottom has come and gone in most areas of the Los Angeles county.  While our bottom hit in 2008, home prices are starting to climb up but they are still low enough for you to get in on these low home prices.  

The fact that you have low interest rates and low home prices together at the same time is unheard of and no one knows how long these two will stay down.  

Usually it’s interest rates are down, home prices are up OR 

interest rates are up, home prices are down!

It’s one or the other but never are both the same except for today....

where we have....

low home prices and low interest rates

In Los Angeles county, where I work, home prices are down and interest rates are also down.  Unbeliveable! So if you can buy now, I urge you to look into doing so. 

And then....there are those government home loan programs that will help you with the down payment!

Wow! 

Low interest rates, low home prices and low down payments.  Unbelievable!!  I don’t know why more Renters are not buying their homes.  We saw this in California back in the 90’s—please don’t let this boat pass you by again, don’t miss the train to home ownership so that you won’t be kicking yourself once prices start going up again.

Can I repeat: interest rates are at the lowest and home price have fallen to the lowest in recent history! And with all those government home loan programs that will help you with the down payment, there’s no excuse to not buy your home.   

There’s even a program that you can even buy with as little as ½% down.  And if you are a Veteran, you can buy with Zero percent down.  Of course, you will need money for your closing cost which depending on your FICO score can be 4% of the purchase price but those closing cost can be negotiated for the Seller to pay part of them as much as 3%.  Please check with a local Realtor to see if these programs are available in your area.

Not everyone will qualify for these government programs, but you will never know if you do qualify if you don’t at least find out.  I would gladly meet with you to find out if you qualify for any government home loan program.  It the loan program exists, I will find it for you.

So, what are the qualifications for these government programs?  They vary from program to program, and to list all the qualifications for all these loan programs would be beyond the scope of this post.   

To find out if you qualify, you must meet in person with me and a lender, there are income requirements, the property must also qualify and it must in a certain designated area, buy the only way you are going to find out if you quality is to call me.

Are you wondering how this could be true?  

The federal government has designated certain areas to receive government funds to help revitalize areas that have been hit hard by the foreclosures crises.  

And The property must be in good condition, if you are thinking of buying a fixer upper—there’s a different type of program that can allow you to buy a home that needs repairs, this type of loan is called an FHA 203K.  

Call me, I can certainly go over other programs that you may qualify for, like I said there are so many programs that it is difficult to explain them in detail in this one post. The best way to know if you qualify for this or any other government home loan program is to meet with me in person.

If you wish to buy a home in any county other than the Los Angeles county, you need to find a Realtor that works in that area or you can call me and I would gladly refer you to someone that can help you.

You can reach me at (562) 916-3237 or email me at: PintoRealty@yahoo.com

 

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My website: to visit my website please click here! or go to: www.PintoRealtyInc.com

 

Posted by

Aida Pinto (562) 884-6196
Los Angeles County
Real Estate Broker



The Real Estate Maven : https://www.facebook.com/aRealEstateMaven?ref=hl

 

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Rainmaker
4,433,283
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I hope buyers will read your post and call you for help in buying a house . Good luck.

Sep 30, 2011 11:31 PM #1
Rainmaker
151,904
Aida Pinto
Independent Real Estate Broker - Los Angeles, CA
Real Estate Broker (562) 884-6196

Thank you Gita for your comment

Oct 01, 2011 03:46 AM #2
Rainer
116,553
Alan Adamo
Westline Real Estate - Huntington Beach, CA
Your Huntington Beach REALTOR®

Aida, thank you for sharing this post and getting the word out. You are right, this is a great opportunity to get in while home prices are down and interest rates are lower than ever. If you can qualify for one of those government programs, all the better. Many people will be kicking themselves for trying to time this market. :)

Oct 01, 2011 04:52 AM #3
Rainmaker
151,904
Aida Pinto
Independent Real Estate Broker - Los Angeles, CA
Real Estate Broker (562) 884-6196

Thank you Alan  for your comment....a lot of people will be kicking themselves....we must spread the news.

Oct 01, 2011 06:06 AM #4
Rainer
478,183
Not a real person
San Diego, CA

I'm not a big fan of government home loan programs. It's just interference in the market place. Why do we think it's okay for them to interfere in some areas of our lives but not others?

Happy Monday!

Oct 02, 2011 11:32 PM #5
Rainmaker
151,904
Aida Pinto
Independent Real Estate Broker - Los Angeles, CA
Real Estate Broker (562) 884-6196

Thanks Russel for your comment.....Well in some areas that have been hit hard by the foreclosure crisis....government loan programs are needed to help these neighborhoods get back to stabilization....Most republicans are against government intervention, but if they need help then it’s ok....they are  ONLY against government programs if they are benefiting from such program....they only want government when they need it and to hell with the rest!  I don't think that is fair....Government should be for ALL people.

Oct 03, 2011 12:33 PM #6
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Rainmaker
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Aida Pinto

Real Estate Broker (562) 884-6196
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