First Time Home Buyer

Hopefully this is the right place to ask this quesiton – for a first time home buyer in Los Angeles, CA.

My income is decent for the area, 85k. My wife and I (who is still buiulding her business so income is slow right now for her) are thinking of buying in Culver City, would we still qualify for a first time home buyer grant/loan, etc if we have have money set aside for a down payment? Not a significant amount, depending on the loan we get approved for (if we even get approved), would be around 8-10%.

Will having money to put down disqualify us? Can we use the grant for closing costs or mortage points?

We will consult with an agent/mortage officer beginning on the new year, just looking for advice ahead of time.

Thanks for your time.

submitted by /u/livingwithrage
[link] [comments]

Hopefully this is the right place to ask this quesiton – for a first time home buyer in Los Angeles, CA. My income is decent for the area, 85k. My wife and I (who is still buiulding her business so income is slow right now for her) are thinking of buying in Culver City, would we still qualify for a first time home buyer grant/loan, etc if we have have money set aside for a down payment? Not a significant amount, depending on the loan we get approved for (if we even get approved), would be around 8-10%. Will having money to put down disqualify us? Can we use the grant for closing costs or mortage points? We will consult with an agent/mortage officer beginning on the new year, just looking for advice ahead of time. Thanks for your time. submitted by /u/livingwithrage [link] [comments]

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