3% Down Payment Loans and First-Time-Home-Buyer Programs -

You can buy a house today in Orange County with as little as 3% down. This video discusses some of the important details and provides some advice on how to successfully close a transaction with one.

(bloopers at the end)

The details:

- The funds to close can be a gift from family

- Cosignors are acceptable

- Full income qualification is required

- Credits from seller and/or lender for closing costs are acceptable

- Your credit does not need to be perfect

- Some programs have income limitations

- Some programs require home ownership education classes

Key advice: Many home sellers are nervous about a minimal-downpayment borrower, so it is essential to do ALL the necessary loan qualifications and approval before writing an offer. Otherwise your offer may be rejected.

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