If you are a first time homebuyer, the Bay Area is an exciting place to build a life. This is a high-tech region with a booming economy. The weather is beautiful, and there is so much to see and do in the area, it is hard to know where to start.
As a first time homebuyer, you also may not sure where to begin when it comes to shopping for your first home loan.
At Bridgeport Funding, we can help.
There are many programs out there to help make homeownership more accessible and affordable to those who are shopping for their first homes.
As a mortgage broker working with a wide network of area lenders, we can connect you with these programs. Along with programs existing at the local level, there are state and national loan programs which are ideally suited to first time homebuyers.
California Housing Finance Agency MyHome Assistance: If you are having a difficult time affording your down payment, this state program can be used in conjunction with a CalHFA first mortgage loan.
California Housing Finance Agency CalPLUS with ZIP: This is a state program which provides closing cost assistance.
Cal-EEM + Grant Program: You can apply to this program if you wish to upgrade a home you are purchasing with energy efficiency improvements.
CalPlus School Teacher and Employee Assistance Program (School Program): If you are in the educational sector, this program can assist you with your down payment and/or closing costs.
Conventional: With the changes to the conventional loan program, it is now possible to get a down payment as low as 3%. This represents an excellent opportunity for first time homebuyers.
FHA: The FHA loan program insured by the Federal Housing Administration remains a competitive option for first time homebuyer loans. If you qualify for an FHA loan, your down payment could be as low as 3.5%. Credit requirements are relaxed enough that you do not need an ideal score.
VA: Eligible veterans, active-duty service members and surviving spouses will want to avail themselves of the VA loan program insured by the Department of Veterans Affairs. With a VA loan, you can purchase a home with zero down and no PMI.
We are a mortgage broker rather than a lender, which gives us access to a wider spectrum of loan programs tailored to the needs of first time homebuyers.
We will work closely with you to find out what you could qualify for so that you do not miss out on an opportunity to save money and qualify for the best possible loan terms, regardless of your credit score.
We know that you will probably walk through our door with lots of questions. Our goal is to make sure that you have all the answers you need to proceed with signing confidently on a mortgage which is right for you.
Mike and his team hope to become your long-term lending partners. Anytime in the future, if you have questions about your loan, want to make a change, or are looking for a new loan, we are here to help you achieve your goals.
Moving into your first home is one of the most exciting experiences in your lifetime, and we are excited to help you make it happen. Please call us now at (925) 478-8630 to apply for your first mortgage.
Based in Walnut Creek CA, we serve customers in the San Francisco Bay Area. This includes Martinez, Concord, Pleasant Hill, Alamo, Danville, San Ramon, Orinda, Moraga, Lafayette and throughout California.
Bridgepoint Funding is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.