Down payment assistance can help you buy a home much more quickly than you may think. For 2018, we are seeing more generous assistance programs that reach more people because the qualifications are not as restrictive.
Down Payment Assistance
This year there is a greater variety of assistance so that more people can qualify for it. There is both assistance that covers the down payment and additional assistance that helps with the fees associated with the purchase of a home. Today’s buyer simply needs to focus on their credit score to be able to buy a home. While San Diego County is seeing fewer homes for sale so far this year, buyers who are flexible as to where they will live can buy a home today, rather wait (sometimes for years) while they save for a down payment.
Your credit score is a big factor in whether or not you can get assistance. Most assistance programs look for a middle score of 640 or more. If your middle score is below this, pay down some debt to raise your score. Usually, paying down your credit card(s) is the fastest why to improve your scores. Even if you have a special circumstance, it is still possible to prepare yourself to qualify. If you have more serious problems, you can call me (760 622 5087) for some tips specific to your situation or you can consult a credit repair specialist such as Lexington Law.
How Much Is Needed To Start
I am often asked, “So how much do I actually need to get started?” The answer is very little. If your middle score is at least 640 (you can check your FICO scores from the 3 credit bureaus), you can get started right now. You should plan for the home search to take a while as you are going to need to see what is for sale and whether it works for you before you can make an offer and start planning your move.
If you want to move forward and still have questions, call/text me at 760 622 5087 or email me at [email protected] If you simply want to understand the process from beginning to end before making any kind of plans, my next class will start on June 16th, 2018 and runs for 3 consecutive Saturdays from 10am to Noon. Class will be held at the Cesar E. Chavez campus (1901 Main St, San Diego, CA 92113) of San Diego Community College District. Look for the Summer Session catalog in your mailbox or go online to http://www.SDCE.edu