Buying or Selling a Home/first time Buyer

Advertisement

Expert: Paulette Moses - 5/18/2007


Question
I would like to ask 2 questions
1) What kind of Grants available for first time Buyer in CA (Los Angeles)
2) What is the qualification for that loan?

Thanks

Masoud  

Answer
Hi Masoud,

Thanks for the question. Ok, to answer your first question, if you have access to a computer and the Internet, you should check out Los Angeles housing department (if you are in the los angeles area) research your local housing department, http://www.hud.gov/buying/index.cfm or just do a search for housing grant programs. There's tons out there, but you have to do the research to see if you qualify.
To answer your second question, you'd have to go to the website and request the information or download the applications and see what they are requesting as a qualifying criteria. Most of the time your income has to be below a certain percentage of the poverty level and there's some home buyer courses they would require you to take.
I hope this helped.
Take care,
Paulette

Buying or Selling a Home

All Answers

Answers by Expert:

Ask Experts

Volunteer

Paulette Moses

Expertise

I can help you with almost any questions related to buying real estate properties such as a single family residence, multi-family properties, condo's or townhouses. I'm very knowledgeable about various loan options out there. I don't know government loan programs or about buying land or moble home properties.

Experience

My specialty is in the numbers of how much to put down and where to get the financing to purchase your home. I would say i'm really good at tapping equity and making it work for your next personal property or investment. If you are in a city with high property appreciation, I could advise you on how to buy a property live in it for about a year (until it appreciates in equity), take an equity line on it and buy another property and rent out your existing property. The main information I try to convey to interested parties about real estate is that you should look at the big future appreciation picture. If you worry about the rents and how you are barely breaking even, then this is not the business for you. Real estate is about slow/steady appreciated values. This is where the big money is in EQUITY.

Publications
I've responded to a few real estate questions on the www.creativeinvestor.com website. My name heading is under pvmproperties.

Education/Credentials
I have bachelors degree in Health care administration and a Masters Degree in Public Administration (thesis pending). I currently own a few properties which i operate and manage by myself. I take on-going real estate courses at the local community colleges for information. I enjoy getting information from the Marshalriddicknetwork.

Past/Present Clients
I have a lot of family which i've encouraged to buy rental and investment properties. I have a lot of friends who spoke with me and i advised them on how to purchase their first homes and they did. I have a lot of success stories of friends and family to dared to step of their comfort zones and purchased properties. They are sitting pretty on lot's of equity now!

©2012 About.com, a part of The New York Times Company. All rights reserved.