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Santa Maria First Time Home Buyer Alert

       

How much money do I need for a down payment?

Walkway at Oak Creek Villas in Orcutt, CA
Walkway at Oak Creek Villas in Orcutt, CA

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.

Looking for a great REALTOR® in Santa Maria?  Let me google that for you.

Santa Maria Real Estate Blog

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.

#1 Agent in Number of Residential Sales Transactions (2016)
in Santa Maria (per CCRMLS)

$125 Million in Career Sales

REALTOR® of the Year (2014)
(voted by Santa Maria Association of REALTORS®)



Tni LeBlanc, REALTOR®, J.D.
Mint Properties
(805) 878-9879 (mobile/text)
Contact Us Online

Lic #01871795





Certified Military Housing Specialist

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