Home Buyer Programs


Real Estate Agency

HUD Programs: HUD regulates the two housing government-sponsored enterprises (GSEs), which are the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Company (Freddie Mac), each being chartered by Congress to create a secondary market for residential mortgage loans. These GSEs are the largest source of housing finance in the United States


In October 2000, HUD published a new final rule which significantly increased the percentage of business the GSEs are required to devote to specific affordable housing goals. These goals are:


  • Low-and Moderate-Income Goal: At least 50% of the dwelling units finance by each GSEs mortgage purchase must be for families with incomes no greater than area median income (AMI), defined as median income for the metropolitan area or non metropolitan county. The corresponding goal was 42% for 1997-2000.
  • Special Affordable Goal: At least 20% of the dwelling units financed by each GSEs mortgage purchases must be for very low-income families (those with incomes no greater than 60% of AMI) of for low income families (those with incomes no greater than 80% of AMI) living in low-income areas. The corresponding goal was 14% for 1997-2000
  • More information on Specific Programs offered through HUD


Homebuyer Down Payment Purchase Assistance Programs​:


Down Payment Assistance for low to moderate income buyers. No requirement to be a first time home buyer. Thousands of people each year dream of becoming homeowners. Let us help that dream become reality. • Down Payment Assistance (DPA) is sized up to 20% of the First Mortgage. • DPA is available with purchase or refinance of a primary residence. • DPA can be used towards down payment and/or closing costs. • Program is NOT limited to first-time homebuyers. • FHA, VA, USDA and Conventional Mortgage Loan Types available. • Minimum FICO 640. | • Maximum DTI 50%. • Income Limits are higher than one might think (low-to-moderate income).


Purchase Assistance Program: •First time home buyer not required •Cannot own other properties at closing •Owner occupancy required •Volunteer in 5 actions/activities a year •Registered Voter •$25,000 Security agreement •Agree to Program Guidelines. TWO YEAR ON-TIME PAYMENT HISTORY: •Stable Income/2 Years Tax Returns •No open Judgement or Liens •No open Collections within the past 2 years •No Foreclosures, Short sale, Bankruptcy 7 within past 2 years •12 months on time rent payments •Budget/Payment Shock Savings •Minimum Required Funds. In addition to the above you will also have to attend a Home Buyer Workshop. Terms: •Fixed Interest Rate for the life of the Loan •No Perfect Credit Required •No consideration of Credit Score •No Down Payment •No Closing Cost •No PMI •Below Market Fixed Rate •Renovation/Repair Options. Lender pays: •Appraisal •Attorney & Settlement Fees •Survey Fees- State specific •Lender Title Policy •Transfer Tax •Customary Buyer Closing Cost. NO Fees: •Application Fee •Origination Fee
•Underwriting Fee •Document Fee •Processing Fee. Feel free to reach out should you have any questions about the program.


First Time Home Buyer Program: (Applies to Anyone who has not had home ownership in the last 3 years) Why rent when you can own your home and have pride of ownership: The last couple of years we have seen the rents increasing in all areas of California. In almost all cases, you can purchase the home you want and the monthly payment will be less than rent on a comparable property. Get more information


Lease to Own Programs: The program provides a clear path to home ownership. Our process is easy, transparent, and built on a foundation of choice and flexibility. Home Partners is helping more people get into great homes, in neighborhoods they love, with the opportunity to build a more secure financial future. Get More Information​   


Heroes Housing Program: 


GOOD NEIGHBOR NEXT DOOR: Law enforcement officers, pre-Kindergarten through 12th grade teachers, firefighters and emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD's Good Neighbor Next Door Sales Program. HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home. In return you must commit to live in the property for 36 months as your sole residence.


For more information on any of the above programs or any other of our Real Estate Services

Contact Pilar Tobias at PTobias@TobiasRealty.net or 408-396-3993