FAQ

1.  How do you define “1st Time Home Buyer”?

2.  I am NOT 1st Time Home Buyer (or) can not qualify, is there any helps I can get?

3.  How much or what kind of helps can we get?

4.  Who Is eligible for these Helps & Programs?

5.  How can I get & apply for all these Helps?

6.  Why is it important for me to work with “1st Time Buyer Specialist Real Estate Consultants”?

7.  What is “1st time home buyer Specialist Real Estate Consultant”?

8.  Why do I need this, I have my own enough down payments? 

9.  Can I just get these available financial  helps & ask my Uncle, Aunt, and Friends Realtor to represent me with my purchase?

10.How much will it cost me to work with these specialist consultants?

11.Can’t I just talk to seller’s (listing) agents or ask them to represent me?

12.I think my income is too High or too Low to qualify?

13.I have bargained or Purchased many things my self, How is home buying different from other purchases?

14.Who are we & why is this “Home Buyer Helps Info” Class free?

How do You Define 1st Time Home Buyer?  (^Up)

Individuals or Husband & Wife team or group of unrelated individuals  who do not own the home or co-signed other people’s home loan or on the title within  past 3 years.

I am NOT 1st Time Home Buyer or can not qualify, is there any help I can get? (^Up)

1^st time home buyer have several additional helps & resources available. However if you are NOT eligible as 1st time home buyer , during the FREE BAY AREA HOME BUYER CLASS  we will also cover Non-tradational help programs available to all home buyers. These programs include  low (below market)  whole sale interest rates &  closing cost helps. We will also cover topics on how to beat other home buyers to good deal properties,  how to save money with Distress Bay Area properties such as, Foreclosures, Short Sales, Bank Owned, Probate, Auctioned  Properties. As well as pro & cons of each transaction types that all home buyers must know.   

How much  or what other kind of helps can we get?  (^Up)

Helps availability for Bay Area Real Estate home buyers varies from Down Payment Helps, Closing Cost Helps & Below market Interest Rate Government  Home Loans to Below market priced Bay Area Homes. Helps are available for all income levels both High & Low . Each programs may depend on your current income, where you intend to purchase your property, type of property, whether you are 1st time home buyer or repeat home buyer etc. Each federal, county, city governments as well as non-profit organizations & Non-traditional help  programs   established  their  own type of helps available to home buyers. Each program may also dictate highest  & lowest  income limits as well as   purchase price & loan amount limits. Low income is not necessarily advantageous, so as the high income. It depends on many factors. Some individuals has received & were eligible for  up to $90K  down payment & closing cost helps   & others simply got 3% closing cost help & yet some others qualify for low whole sale  interest  rates or closing cost helps. Not all the assistance& programs work together. That’s one of the reasons why you can not afford NOT to use the 1^st Time buyer specialist Real Estate Consultant, who can provide custom advice based on your family/individual needs & financial situation.

Who Is eligible for these Helps & Programs? (^Up)

All home buyers will be eligible for some type of helps depends on their individual income & credit situation. However if you are 1st time home buyers may enjoy more helps. You are highly eligible, if you are 1st time home buyer  (as defined above)  with sufficient documented & verifiable income with stable job history of at least 1 years (OR) for  those who just grduated you may qualify as long as your new employment starts within 6 months upon your graduation.  CA tax paying individuals with H-1 visa holders are also eligiable with 2 years of  verifiable  work & documentable income. There are programs for all credit level but Credit score of 680 or higher is  needed for best programs.    

How can I get & apply for all these Helps & Programs?  

Why is it important for me to work with "1st Time Buyer Specialist Real Estate Consultants”?  (^Up)

To make most out of these once in a live time benefits you are entitled for, it is important that seek the advice & work only with the "True 1st Time Home Buyer Specialist Real Estate Consultants”. Unlike most traditional Realtors who are “Generalist, Providing traditional & standard advices with little benefits”, the "1st Time Buyer Specialist Real Estate Consultants" know the available Govt, Non-profit & other sources of helps, the program’s benefits, as well as the eligibility guide lines & perfect Bay Area homes that fits all these guidelines, inside out to make your home purchase a truly affordable & successful one. Thus these professionals will ensure NOT only, you Get the best optimized result of Saving 10’s of $$$ with your home purchase, but also Help avoid risking your security deposit, that typically accompany with your home purchase offer due to your generalist Realtor’s lack of detailed knowledge on financing & home’s eligibility guidelines. Or even worst, you missed out entirely the once in a live time helps that you are entitled to as a 1st time home buyer due to your Realtor or lender lack of knowledge or simply because they refuse to discuss these options with you  for other profit motives.  

What is 1st time home buyer Specialist Real Estate Consultant? (^Up)

Most working Realtors are “Generalist” (i.e. They work with anyone & everyone, including 1st time home buyers. From sales of low cost  condo to million $$ luxury homes to vacant land. They  offer standard "general advices" the same ones that they offer to move up  or million $$ home  buyers.  They may  refer you to "traditional lenders" offering “traditional conventional home loans” requiring unwary  1st time home buyers to put down huge  down payments & closing costs etc). 

However, the true “1st Time Home Buyer Specialist, Consultant” know the special & unique financial challenges face by many of the 1st time home buyers. They know what helps are available  especially for 1st time home buyers. Thus these professionals knows available Govt, Non-profit and other sources of  helps, program’s benefits, as well as  the eligibility guide lines & perfect Bay Area homes that fits all these guidelines, inside out to make your 1st  time home purchase a truly affordable & successful one.

By selectively working with them you’ll  Not only get the best optimized result of Saving 10’s of $$$ with your home purchase, but also Avoid risking your security deposit, that typically accompany with your home purchase offer due to your generalist Realtor’s lack of detailed knowledge on financing & home’s eligibility guidelines of these special programs, while writing up the purchase offer contract. Working with the 1^st time home buyer specialist is like going to the Dermatologist  vs. going to your general practice doctors for your skin issue. They are rare to find but once you find them they are worth your time investment.

Why do I need this, I have my own enough down payments?  (^Up)

If you have  enough down payment of your own that is  very good. In fact that will give you many more different options & choices. Regardless, you should still explore what these helps are e.g. if you can get the $75,000 Loan with 0% APR for 5 years , wouldn’t it be nice to keep  your own money in interest bearing CD and enjoy the income , instead of locking your money up. Better yet you can use the extra down payment you save to purchase the income rental property etc to help build your future wealth. It’s about how efficiently you are investing or planning your money to get ahead in live.    

Can I just get these  available financial helps & ask my Uncle, Aunt, Cousin or Friends Realtor to represent me? (^Up)

Unfortunately for these transactions to close smoothly & successfully, as stated above Realtors you are working needs to have intimate & deep knowledge of these 1^st time buyer’s financing programs & guidelines.  Each program has their own technical & very specific requirements from Purchase Price, buyer’s income level, property type, location of the property to owner occupancy rates and many terms that must be met when writing the purchase contract offer.  Working with your specialist consultant becomes even more important due to current &  ever increasing restrictions imposed by financial institutions  & government itself .  In the ends it is your earnest money & security deposit at risk, not that of your Aunt, Uncle or Friends.  If they are  true 1^st time buyer specialist Realtors we encourage you to seek their  advice.    

How much will it cost me to work with these specialist consultants?(^Up)

Majority of the time it doesn’t cost you anything (other than your commitment to work with them). It is customary (though not all the time) that Home seller will compensate the Exclusive Buyer Realtor.

Can’t I just talked to seller’s (listing ) agent or ask them to represent me? (^Up)

You definitely can, however

1^st:  Most likely they may not be 1^st time Home buyer specialist Realtor (or know what it takes to truly help you)

2^nd: they have written & signed agreement  with Individual Home Sellers (or) Builders  pleading  that they will do their  outmost to sell these home with Highest ,best possible price & terms to buyers.   In the “Free Bay Area Home Buyer Class” you  will also  learn different types of agency relationships available to you as a consumer as well as which one is  best for you as home buyer to provide the maximum protection before you choose your Realtor.  Knowledge, give you protection, protection that  you will never get –if you do not know.  Though it may seem like an obvious fact, due to lack of information or education most home buyer consumers are not aware of the type of protection they can get. (Simply put:  Do you go to prosecuting Lawyer in court &discuss all your details to help represent you – or do you hire your own defense lawyer?)

I think my income is too High (or) too Low to qualify? (^Up)

This is one of the most common assumption  1^st time home buyer’s in Bay Area has. That’s another reason why you should attend the  Free Home Buyer Class. There are different types of helps available for different income level. In fact many of the Hi-Tech silicon valley workers (engineers or other working professionals) have benefited from these programs.  We have programs for those with relatively High Income, Moderate Income as well as Low Income. Types of helps available differ and each programs has it’s own pros & cons. 1^st time home buyer Specialist Realtor Consultants should be able to help you design the program that most beneficial for your family.  

I have bargained  or purchased  many thing by my self in live, How is home buying different from other purchases? (^Up)

It is Very  different because

• 1^st ,for most people it is most  expensive purchase they  will do in their live.
• 2^nd  , to double the risk, though you are purchasing a home , in fact you are purchasing 2 separate & different products, yet equally  very large sum of money involve. One is the “home” it self & other  is the “Home Loan”.( Unless you are very lucky few who can afford the cash down)
• 3^rd unlike other items you usually purchase, which comes in  standard & very well defined  manufacturing spec like watches, Cars. Gadgets etc . Reality is NO 2 homes are alike, even if they were built by same builder, same size in same complex.  That is because, even simple things such as whether it is corner lot, closer to noisy public area or orientation of the house(direction the door face, incorrect  layout or efficiency of the homes) all makes a difference in desirability and market demand thus create difference in  pricing in 10’s of thousands. Thus every home is custom & you need expert knowledge from industry insiders, who you can trust.
• 4^th   unlike other purchases, with  Real estate purchase,  you can  technically end up losing more than you pay for –(e.g. Owner can be liable for million $$ worth of environmental clean up issue etc) if you are not careful with your purchase, or title to your new home etc is not  clear.

 “Free Home Buyer  Class”  will cover the topics on this area too.

Who are we and why is this “Home Buyer Helps Info” Class FREE?  (^Up)