Answers to Your Home Financing Questions

We've received a lot of financial questions from first-time home buyers, so I brought in a financing expert to help me give some answers.

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We've received a lot of financial questions from our viewers, so today I'm pleased to be joined by Patricia Chavez from Pacific Funding Group to help me answer some.

Who is actually considered a first-time home buyer? This is somebody who has not owned a property for three years or has rented a property for three years.

Are there down payment assistance programs? Yes, there are plenty of down payment assistance programs. Some do require you to be a first-time home buyer. There are also plans that will allow you to own a home already and still qualify for down payment assistance.

Do you have advice for first-time home buyers with low credit scores? For starters, first-time home buyer programs don't have high credit score requirements. The minimum score required is 640, which is not very high. If you're nowhere near 640, it all depends on why. In some instances, buyers who don't have established credit could open credit cards and, within a couple of months, be ready to buy. In other cases, we have potential buyers with a couple of dents in their credit, and in most cases, those credit problems can be fixed.

Hopefully, you find this information helpful if you're thinking about buying your first home. If you have questions about financing for Patricia, give her a call at 707-361-4228 or send her an email at pchavez@pfgbayarea.com.

If you have any questions about East Bay area real estate, give me a call or send me an email. I would be happy to help you!

The Worthwhile Investment of Real Estate

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Today we are excited to be talking with a very special guest, Joe Fairless. Joe is an experienced real estate investor who has built his wealth through real estate investments and he hosts a radio show, “The Best Real Estate Investing Advice Ever” where he offers his insight into the investment world of real estate. Joe knows and understands the importance of investing in real estate property, and he is here today to talk to us about why it’s such a great way to grow your money.

Generally speaking, investment property is a great way to diversify your portfolio of investments and offer many tax benefits as well. Paying down your mortgage payment each month builds equity and if you are renting your property out, the home can pay for itself in no time.

One easy way for someone to get started in real estate investment is by purchasing a 2-4 unit condo or townhome. You can live in one unit while renting the other out, effectively covering all your mortgage payment and even generating some positive cash flow based on what your rental rate is. Anytime you can be rent- or mortgage-free while also saving up money for your next purchase, you should do it.

Real estate investing isn’t as easy as buying a home, renting it out, and eventually buying another. It takes a lot of knowledge and discipline to be successful. When Joe was just starting to learn about investing in real estate, he dove deep into books like Investing for Dummies. It takes a lot of hard work to be as successful as Joe is, but if you have the right mindset and work ethic it can be lucrative.

We would like to thank Joe for taking time today to join us. If you have any questions about real estate investing or any other real estate related questions, give us a call or send us an email. We would love to speak with you!

Why Is Homeownership So Important?

According to the National Association of Realtors, most people don't understand the benefits of homeownership. Homeownership is very important, and there are three main reasons why.

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Why is homeownership so important? There are three main reasons.

• Owning a home gives you the opportunity to build equity.
• Homeownership gives you the opportunity to build family wealth.
• You choose where you want to live.

According to the National Association of Realtors, most people don't understand that as homeowners you build wealth. As a renter, you don't invest in a property.

There are several programs for first-time home buyers and too much information to share in one video. Please give us a call or send us an email. We'll sit down with you and determine your options for homeownership. We look forward to hearing from you!