Igor Real Estate

Your South Bay Real Estate Expert

  • Home
  • Meet Igor
    • Meet My Team
    • Philosophy
    • Why Choose Igor
    • Why Use RE/MAX?
    • Testimonials
    • Videos
  • Search MLS
    • Your Dream Home Criteria
    • Mortgage Info
    • Buy/Sell
  • Community Info
    • Beach Cities
    • City of Torrance
    • Palos Verdes Peninsula
    • Hollywood Riviera
    • Map of the South Bay
  • Contact
You are here: Home / Buying Tips / First Time Loans

First Time Loans

April 13, 2018 by Igor Nastaskin

Most first-time buyers can qualify for a mortgage loan, but they may need help from parents to make the down payment or closing costs on their home. There are loan programs that minimize the down payment and closing costs for first-time buyers. These programs usually require that 3 to 5 percent of the purchase price come from the buyers’ funds, not from a loan or gift. Most lenders ask for the last three months’ bank records. The borrower will be asked to reveal the origin of any large deposits. If the money comes from the homebuyer’s parents, the lender may not consider those funds when qualifying the buyers.

Parents who are planning to help their children finance a home should transfer any funds several months before the house-hunting process begins. If it is a loan rather than a gift, a formal re-payment agreement should be drawn up between parents and children to eliminate potential misunderstandings or future complications with either estate.

 

Do These Real Estate Tips Really Apply to YOU?

I’ve learned these tips through years of experience as a top real estate agent. But I know that YOUR situation might be different. That’s why I’m here.

It’s my job to personally advise homebuyers and sellers. Ask me if any tip that I’ve included here really applies to your situation.

Do any of these tips raise questions for you? Didn’t find what you’re looking for? Let me know! I am happy to answer ANY questions. It’s my job! There’s no obligation, and I promise to get back to you quickly…

Filed Under: Buying Tips

Contact Me for a FREE Home Evaluation

  • This field is for validation purposes and should be left unchanged.

Featured Listing

Have Questions?

Check out our Glossary of Real Estate Terms to help you get a better understanding!

Real Estate Terms

Account Sign Up

Sign Up for an IDX User Account to save property searches and setup automatic listing alerts.


SIGN UP HERE!

Your South Bay Real Estate Expert

Specializing in the Hollywood Riviera, Palos Verdes, Redondo Beach, Manhattan Beach & Torrance

  • Facebook
  • Twitter
  • LinkedIn
  • Instagram

I’ll help sell your current home & find your dream home

When it comes to real estate, my goal is to help you achieve your goal. Whether you want to move-up, scale down or find the ocean-view home you always dreamed of, I listen carefully to your real estate needs and then come up with a strategy to achieve your objectives. But don’t just take my word for it — I encourage you to read the letters written my clients (see the testimonial section on this website). I bring the same honesty, integrity and professionalism I brought to these clients to every transaction. And that’s my personal promise to you!

Igor Nastaskin
Re/Max Palos Verdes Realty
inastaskin02@gmail.com
direct: 310-892-6016
DRE: 0131782
Office
63 Malaga Cove Plaza, Palos Verdes Estates, CA 90274
office: 310-378-9494×2349
fax: 310-378-3818

© Igor Nastaskin. All Rights Reserved.
Real Estate Website by imFORZA