NANCY ORTEGA

I'm a college student learning about Real Estate. And I want to get alot of imformation, and learn from it. I like helping people and i enjoy learning from others. I work as a front office clerk in Malibu. And i hope that my information can help you in some way or another. This business is basically  people. And one important point in this business that i think it makes a big difference is attitude, because attitude is everything.Because by changing your attitude you change your life. And the most important is to always have a positive attitude and great things will come, is just to take control in your attitude. Because positive thinking is the key to success in business, education and anything that you can mention. Go out there thinking that your going to complete what you really want and do the best of you. There's so many things that we need to do and know about this business. Because is dealing with different kinds of people and different personalities. Also  enjoy  doing this business while your are helping peolple.  And learn from the mistakes that you make, so you won't repeat them and make a better of yourself.

The're  many Assistance Programs for First Time Homebuyers, and some poeple don't know about them and what they do. Down payment assistance programs, both non- profit and federally run, help interested home buyers with procuring down payment on a home. The seller of the home assists the buyer by contributing a portion of sale proceeds to the home buyer at the time of closing. Because federal and state laws dictate that the seller cannot give the funds directly to the buyer, the assistance programs provide a work around so that the sale stays within federal guidelines. The gift amount is determined by the type of loan that is being applied for.

 And this is hoe it works, the seller enrolls the home in a down payment assistance program. They will contribute the amount the buyer needs for closing. When buyer and seller go to the closing table, the assistance program that the seller has enrolled in then wires the needed funds to the selling agent. By law, the seller can have no part in the transfer of any funds.

The best source of funding comes through the Fereral Housing Authority(FHA). The FHA is a branch of the Department of Housing and UFrban Development which was created in 1965. The prime responsibility of the FHA is to administer government home loan programs. Because the loan is insured by the FHA, the lender is protected in case od default. The Fha also looks at the debt to income ratios differently. The standard in the lending industry is a debt to income ratio of 28/36%, but the Fha has a standard of 29/41%. This offers the buyer eith less than perfect credit an advantage. The FHA also works with people on many loans they wish to persue.

 There are other organizations that administer down payment assistance programs that are not run by the federal government. The most popular today are AmeriDream, Inc, The Nehemiah Program, and Partners in Charity. if you are dealing with these charitable organizations, always ask questions as to their involvement in the community.

Although many people are discourages by the requirements for buying a home, there are organizations that are available to help them through the process. Doing your own due diligence will go a long way to help them through the process. Doing your own due diligence will go a long way to help you determine not only whether you are capable of paying a mortgage.