First Time Buyers

As a First Time Buyer, there are many things that you need to consider.   As we've outlined in the Buyer Tab on this website, there are 5 Steps to making your purchase, whether you are a First Time Buyer or have lots of experience.  In other words, the process is the same, the difference is in the experience and the comfort level.

On Demand Realty wants to make sure that as you progress through this process you remain aware that:

• You're in Control - You are the customer and in control of the entire transaction. You are able to request your agent to work for you and if they do not meet your needs, then you can find another agent. At the same time, you make the decision on the amount you want to spend, the loan/mortgage your prefer, which lending firm you use, what inspections you will require, etc.  If at any time you feel that you have lost control, then raise it as an issue so we can address it and correct the situation.

• Risk Management - One of the areas that create the most stress is "getting a mortgage" and having that financial commitment.  As a result you want to be fully informed about all the financial options available to you as a new home buyer. To address this, you need to have a strong comfort feeling with your lender.  At the same time, you may want to search other programs to just make sure you educated yourself on all the programs available. See below for some links to local first time buyer programs and information sources.  You can check them out and also discuss if you qualify with your lender.  Also, your agent can give a perspective as to how a seller reacts to certain programs based on the state of the market.

• Informed - There are never questions you should not ask.  If you are wondering about something, ask about it.  Empower yourself to be informed about this purchase.  Sellers, Agents and Lenders are required to fully disclose what they may know about the property, the area, etc. At the same time, as a Buyer you are required to do your due diligence and understand your role in the process to be open, honest and timely in your communications. Check out our Frequently Asked Questions page for some commonly asked questions.

• 100% Satisfied - On Demand Realty wants you to be 100% satisfied, at all times.  We will try our best, but you need to let us know if we are meeting your needs.  If not, we will try our best but if that still does not work, then we would propose either using another agent in our brokerage, or if that is not satisfactory, that we help you find a new brokerage.  

Important Information

Agency Disclosure Notice: All agents are required to Disclose with you their agency relationship when working with you.  They should disclose if they are acting as a Seller Agent (representing the seller), a Buyers Agent (representing the buyer) or a Dual Agent (representing both the Seller and Buyer). You then Elect their role in representing you, and provide Consent by completing the Buyer Agency Disclosure Form (click here for a sample copy). This is so you will how you are being represented in the sales transaction going forward. Questions?  Call.

First Time Buyer Programs and Information Sources

As a First Time Home Buyer there are possible government funding or grant programs available to you based on your income qualifications, credit scores, residency requirements, available funds and your participation in some courses.

Click Application Paperwork to get an idea of the supporting documents you will need when applying for a loan.

Most lenders will be aware of these programs and can assist you, but if you are one of the people that want to check these things out yourself, below is a list of some agencies that you can click on to access their websites.  

FEDERAL INFORMATION

• US Department of Housing and Urban Development - Programs sorted by County
• US Department of Housing and Urban Development - Buying a Home Guide
• US Department of Housing and Urban Development - FHA Mortgage Limits
• VA Benefits Administration - Home Loans Information
• VA Portal for Certified Condos - enter City and State
• Fannie Mae HomePath Program - Foreclosed REO Homes

 CALIFORNIA INFORMATION

• California Housing Finance Agency Program
• California Housing Finance Agency Loan Programs
• California Homebuyers Downpayment Assistance Program
• California Homebuyers Downpayment Assistance Program - FHA Income Limits
• California Homebuyers Downpayment Assistance Program - VA, USDA or Conv Income Limits
• CalVet Home Loan Program

COUNTY AND CITY INFORMATION

• Alameda County Housing and Community Development Department
• Contra Costa County Affordable Housing
• Community Housing Development Corporation

NOTE: On Demand Realty does not have any direct or indirect relationship with any of these agencies, lenders, or programs and only provide these links as a courtesy to you as a First Time Home Buyer.