First Time Home Buyer in Cali with good FICO scores

[Anonymous]

Hello all,

Well I'm getting closer and closer to buying my first home in Southern California (The OC) and I could use some advice. I've been doing some research into first time buyers and down payment assistance programs and it can get a bit overwhelming. Here is my situation:

I have FICO scores in the mid 700's and make a descent income. The thing is I don't have much to put down, maybe 7 to 8,000. But I would much rather hold on to that for other things and get 100% financing. I've been reading about down payment assistance with deferred payments till you sell the home. This sounds good to me. Any advice would help. Thanks everyone.

[Anonymous]

With 700 Ficos you will have no problems! The only thing is in So Cal... I'm sure you are going to pay bucks for your house. I'm going to need a purchase price. On FannieMae loan the max is 417K and after that its a Jumbo loan and the rules change. Now... with no down payment you will have PMI but send me a pvt message and I will send you information on a 8 hour class that you can take that will save you money on PMI. Good Luck!

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sdlt21 wrote:

Hello all,

Well I'm getting closer and closer to buying my first home in Southern California (The OC) and I could use some advice. I've been doing some research into first time buyers and down payment assistance programs and it can get a bit overwhelming. Here is my situation:

I have FICO scores in the mid 700's and make a descent income. The thing is I don't have much to put down, maybe 7 to 8,000. But I would much rather hold on to that for other things and get 100% financing. I've been reading about down payment assistance with deferred payments till you sell the home. This sounds good to me. Any advice would help. Thanks everyone.

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