First time home buyer California-First time buyer incentives

By
Real Estate Agent with Munson Realty Southern California Real Estate

First time home buyer California-First time buyer incentives Are there first time buyer incentives for the first time home buyer in Los Angeles? You bet! Let’s start with the most popular first time buyer loan, FHA.

FHA requires only 3.5% down and you can get the seller to cover your closing cost. Here is a ton more information on FHA with greater detail on qualifying for this loan. Info on FHA. FHA alone is a great first time buyer incentive.

But what other first time buyer incentives are there for the first time home buyer in California? Well, there are a couple real estate agencies here in Los Angeles that offer the First time home buyer in California first time buyer incentives in the form of a cash rebate at the close of escrow. Munson Realty is one of them.

How does that work? In a nutshell, the seller of your prospective new home will pay us the Realtor a commission, usually 2.5-3% of the purchase price. Munson Realty will then rebate to you (in the form of a check at closing) 15% of our commission. 

There's a chart below to give you a good idea of what you can expect. These first time buyer incentives are extremely useful and help replenish any closing cost you may have paid or perhaps buy a washer & dryer, furniture or fund any little personal touches you might want to make to your new place.

While having these first time buyer incentives are a great bonus for the first time buyer in California, it’s really important that you understand all of the steps to buying a home and find an excellent Realtor to locate and negotiate your homes purchase. Take a look at our 6 Steps to buying a home for the first time home buyer in California below.

 

6 Steps to buying a home & Getting your Home Buyers Rebate

 


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Comments (3)

Bas Panch
SCV Home Buyer - Valencia, CA

Hi Stephen,

Great info, as usual. I'm sure a lot of first time home buyers in California will find it useful. Keep up the good work as a top Pasadena short sale agent!

Jul 05, 2012 12:27 PM
James A. Browning
Browning Real Estate School/REO Institute - International, IT
MRE REOCertified(R) SSCertified

Please join our group on LinkedIn, ‘REO Institute’. We share information on market conditions, posts, ideas, and comments. Please share your opinions and comments on the Real Estate industry. Thanks, James A. Browning MRE, CEO, REO Institute

Jul 11, 2012 02:35 AM
Katerina Gasset
The Gasset Group & Get It Done For Me Virtual Services - Provo, UT
Amplify Your Real Estate & Life Dreams!

Hello Stephen,excellent blog here.I love all the tips and advice you shared here with us.Good work! Stay the best Pasadena Short Sale Agent. 

Sep 12, 2012 02:21 AM