First Time Home Buyer

[Eric Rodriguez]

First time home buyer wanting to buy a home in the San Diego area. 

[Patricia Berman]

Hi Eric,

If you are a first time home buyer I would suggest you look into first time home buyer incentives, here are a few I know about:

- you can put less down for first time home purchase.  Perhaps only 3%. 

- you might be able to pull up to $10,000 from a retirement account penalty free for first time home purchase. 

- You might be able to get a lower interest rate. 

- if you have a 401k you can usually borrow against it up to 50% for a home purchase with a 25 year payback period and you essentially pay yourself back plus interest and the loan does not hit your debt to income ratio.

- check out places with ADUs so that you can rent it out to decrease your overhead. 

Lastly, San Diego is a beautiful city and I wish you the very best!

Patricia