FHA loans benefit Carlsbad & San Diego residents in the following ways
* Firefighters, law enforcement, teachers and emergency medical personnell can buy a home at a 50% discount using HUD Good neighbor next door program
* Good neighbor next door program only requires a $100 down payment 
* Low down payment of 3.5% HUD 203b loan (Required for California loans)
* Low interest rates
* Easy approvals
* Less than perfect credit okay
* Option to choose your own appraiser
* FHA rehabilitation purchase & refinance loans available (203K)
How much house can you buy with an FHA loan?
The FHA loan limits for San Diego county are as follows:
Examples: 1 unit-single family residence 2 unit - duplex etc.
1 unit $697,500 2 units 892,950 3 units 1,079,350 4 units 1,341,350
Click our logo to visit our website, email me nevin@nevinloans.com or call 888-206-5781 x 1017
Serving customers since 1977
First Priority Financial is licensed by the CA DRE # 654852 Nevin's CA DRE license 016552
The opinions expressed in this blog are not necessarily those of First Priority Financial. 1902 Wright Place 2nd floor Carlsbad CA 92008 is not a licensed branch location. This is not a guarantee to lend.
We specialize in jumbo and FHA loans in the Carlsbad, Encinitas and Del Mar areas. FHA loans require FHA loan training or adequate experience to avoid delays in your loan approval. If purchasing a home with an FHA loan, your down payment can come in the form of a gift from a family member and the seller can contribute up to 6% toward your closing costs. The minimum down payment requirement is 3.5% of the purchase price.
Click picture for a complimentary pre approval
The FHA loan limits for San Diego county are as follows:
Examples: 1 unit-single family residence 2 unit - duplex etc.
1 unit $697,500 2 units 892,950 3 units 1,079,350 4 units 1,341,350
What if I want to buy this house?
If you need a loan that exceeds FHA limits we can help! We also specialize in jumbo loan products!
Jumbo loans also create a challenge because there are only a few lenders with competitive rates. Some of these lenders also require two appraisals making the cost of securing this loan more expensive.
Don't short change yourself in the real estate transaction either. Since Carlsbad, Encinitas and Del Mar all have entry level to high end homes, you might find yourself buying a home using an FHA or Jumbo loan product. Once your contract is written, submitted and accepted it will be tough to make changes. Even the smallest mistake on a purchase contract can cost you big. Therefore make sure you choose an agent familiar with the nuances of FHA approved homes and high end real estate.
Kim Carlson would be my recommendation.
Kim has over 25 years experience as a top Realtor in the Carlsbad, Encinitas and Del Mar areas. We have worked together on both jumbo and FHA loans/purchases so I have first hand experience in her professional abilities. Since the seller is essentially paying for your agent representation, hire the best. You can visit her website by clicking on her picture.
Click our logo to visit our website, email me nevin@nevinloans.com or call 888-206-5781 x 1017
Serving San Diego county and the state of California since 1977
You probably hear this advertised all of the time.
Don't be fooled. 
It's a misleading way to get you to call the lender/banker/broker so they can solicit your business.
What are first time home buyer programs and how do they benefit the first time homebuyer?
The only first time home buyer "benefits" I am aware of is the tax credit and California's state housing assistance grants. (And other states too_of course!) Other than these there is no special provision for a first time home buyer and many of the lenders who advertise first time home buyer programs aren't even familiar with the state grants.
* The few actual programs that are limited to first time home buyers limit the amount of income you can make and limit the purchase price.
* Whether you are a first time home buyer or seasoned home owner you still must meet the same guidelines to get your loan approved.
* In most cases first time home buyers have limited or no cash savings. Saving 20% for a down payment is especially challenging in high cost areas. Therefore what they are advertising are loans geared toward first time home buyers like FHA loans that have small down payment requirements. FHA loans also allow the down payment to come from a family member as a gift. FHA loans are not limited to first time homebuyers.
*USDA rural housing loans do not require any down payment. This program has income and property restrictions including a provision that the property must be "modest". If you are lucky enough to have the property appraise for more than the purchase price you can have some or all of your closing costs included in your loan amount. It also has no mortgage insurance. It's a great program but is not limited to first time home buyers.
Although these loans certainly help a first time home buyer get into a home they are not limited to first time home buyers. Anyone who meets the minimum criteria can apply for these loans.
The next time you see this advertised understand that there is no "special" treatment for being a first time home buyer unless you are dealing with grants.
We won't mislead you to get your business.
Click our logo to visit our website, email me nevin@nevinloans.com or call 888-206-5781 x 1017
Serving San Diego county and the state of California since 1977
Many parts of California especially San Diego are rebounding, reversing the trend of declining values. California mortgage rates are low and with the probability that many homeowners have recently acquired equity you may want to look into switching from a 30 year mortgage to a 15 year mortgage. This could allow you to retire much earlier than anticipated by paying your house off in half the time!
If you are looking to buy a home, mortgage rates have rarely been lower and will likely rise in the coming months. Take advantage of low rates and the $8,000 tax credit.
Contact us for a free quote to see if a refinance or home purchase would be beneficial to you. If after a thorough analysis we deem that a refinance is not in your best interest or you decide against buying a home, then at least you'll have a copy of your credit report which you should check a few times a year.
Carlsbad's premier lender!
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Click our logo to visit our website, email me nevin@nevinloans.com or call 888-206-5781 x 1017
North Carolina has not been affected like many areas of the country when it comes to declining values. With mortgage rates this low and the probability that many homeowners do have equity you may want to look into switching from a 30 year mortgage to a 15 year mortgage. This could allow you to retire much earlier than anticipated!
If you are looking to buy a home mortgage rates have rarely been lower and will likely rise in the coming months.
Contact us for a free quote to see if a refinance or home purchase would be beneficial to you. If not then at least you'll have a copy of your credit report which you should check a few times a year anyway.
ID theft is growing rapidly especially in a tough economy. Contact us to learn how to protect yourself without spending money on an unnecessary"credit protection" service.
Click our logo to visit our website, email me nevin@nevinloans.com or call 888-206-5781 x 1017
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Looking for a real estate agent? We have the top real estate agentsfor Wake and Mecklenburg Counties!
Cary & Apex Charlotte & Lake Norman Wake Forest Raleigh
First Priority Financial is the largest mortgage brokerage in the United States with over 300 lenders. This allows us to find you the best loan for your specific needs. Although we cannot guarantee the lowest rates (It's illegal to "guarantee" lowest rates) with over 300 lenders and our own banking division the probability is greatly increased of getting a great rate.
We service the entire state of North Carolina but our loan officers do a bulk of business in Cary, Holly Springs and Raleigh.
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I am a people person and believe in providing my undivided attention to you and your needs. After all that really is my first responsibility! Licensed in CA,NC,OR and WA to originate mortgage loans.
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