I’m afraid the days of 100% financing for everyone are gone. Unless you are a veteran with a VA home loan benefit, or buying in a rural area through the USDA loan program, there are not many 100% financing options. (Santa Maria does not qualify as a rural area, but in the past, Guadalupe and parts of Nipomo have qualified). Most first time buyers I’ve worked with in Santa Maria real estate market are using the FHA loan program which allows for a reduced down payment of 3.5%. So, if you are buying a $200,000 home in Santa Maria you would need to save $7000 for the down payment. The FHA loan program also allows you to receive these funds as a gift from another person. Buyers will also need to save their closing costs or request that the seller pay their closing costs. In this competitive market, being able to pay your own closing costs can make your offer stand out from the rest, so the more you can save toward closing costs the easier the home buying process will be for you. If you would like a first time home buyer consultation, please contact my office at (805) 938-9950.
In July 2006, Mint Properties opened an office in the Mission Creek Plaza on Santa Maria Way. Tni’s stated aim is to offer the highest quality representation and professional service to her clients. Independence affords her the ability to avoid a volume driven approach; the result is prompt, reliable, individualized service coupled with straightforward advice. Indeed, she brings the same level of professionalism to real estate as she did to the law.
Sometimes, the second lien in a short sale situation is held or serviced by the same bank as the first mortgage. This can make the situation a little easier than whe that note is owned or serviced by two separate entities. But, not always. Often banks will "charge off" a second mortgage once it becomes too delinquent or after a Notice of Default is filed by the 1st mortgage. In those cases, the note can be sold for pennies on the dollar to what is essentially a collection agency. And, with that you are dealing with a completely different animal.
They can do a better job for you. With commitment and loyalty comes trust. I can do ten times more for a client if they are committed and they trust me. If you are working with an agent that you don't trust, you need to move on, because there really is no point.
