Author Archives: Cvedrene

Getting through the overwhelming process of applying for the San Diego first time homebuyer down payment assistance program was tough on us emotionally and mentally. I wish in hindsight someone would have helped us prepare for that challenge. Get your mind ready to get what you want. Retirement, investment for future, a place called your own, a permanent ceiling on spiraling rent costs, whatever it is you want, you have to submit to the powers that be to get it. Yes it’s all legal and ethical but very unreasonable and borderline abusive. My wife would never agree with me on this point. If you ask my wife how the process went she would say it wasn’t all that bad and that it was totally worth it. Was she overwhelmed at times? Yes. Yet, she adamantly believes getting through the overwhelming process of applying for the San Diego first time homebuyer down payment assistance program wasn’t all that bad.  Okay, call her if you want the warm and fuzzy story. I’ll put her on the phone.  I agree with everything she says except one thing, the process was bad. But agreed, it was worth it in the end. We put down 3% to buy, borrowed 25% on a deferred payment, and found a secret way to get another 15% to fix up the place, and now we’re sitting on 48% cash equity. Investing 3% to make 40% profit with borrowed money while living in the investment property? It’s insanely worth it. Happy to talk to you about how we did it. Call me at (619) 886-1826 or fill out the email form below. Getting through the overwhelming process of applying for the San Diego first time homebuyer down payment assistance program wasn’t all that bad. – My...
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Soon after starting our home acquisition project it became clear that the battles against negativity would be intense. Low credit scores, rising property costs, limited property selection, disinterested and apathetic real estate professionals, as well as being self-employed, presented some huge obstacles. The only way I got through this process of becoming a first time home buyer in San Diego personally is keeping the end game in mind. Know your end game guys. Know your end game like a mantra. I’m tired of throwing my rent money away to make someone else rich. I am putting the money in my own pocket from now on. I’m going to invest in my own future, the future of my children, future whatever. I can absolutely achieve my goal of becoming a first time home buyer in San Diego despite the vicious San Diego real estate market. First time home buyers have to know their end game, make it your mantra, and tell it to yourself every day. “I will purchase a beautiful affordable home in San Diego using the First Time home buyer downpayment assistance program.”  One of the keys to positive thinking is to say something to yourself so many times that is re-wires the synapses in the brain to a different way of thinking. With so many strikes against you as a renter; especially the mentality that home ownership is unacheivable; you have to re-train your brain to break free of these chains. Here is a great example of a site I use to train my positive thinking. Believe me guys, to get what you want, you need every motivation you can summon up to get through this process.  All of this mental work will pay off as you see the equity rise in your home that you enjoy each...
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Here’s the way we made a very difficult process fun.  Buying a home in the San Diego real estate market is a lot like being in the playoffs in professional sports. It’s a very difficult process, even for the best athletes in the world. There are lot of people against you and you have got to be determined to practice, be educated, know exactly what you doing; executing your play on every play to perfection to the best your ability to win this game. The championship is to move into your awesome San Diego home that you bought yourself. Every minute you spend reading, learning, talking, to experienced people with your best interest at heart is like training for the big game. This is how a very difficult process became easy for us. A famous winning coach once said, “victory comes by doing many little things a little bit better each day”.  That link is to a coach who is dead right. I don’t particularly care for his delivery but his content is 100% spot on. Have fun making little improvements every day toward getting through the San Diego first time home buyer program and buying you very own home. This sports method of getting through the first time home buyer process made a very difficult process fun. We did it. Thousands have. The last guy paid an obscene amount for the house we live in. With the help of the San Diego Housing Commission  we paid 3% of an amount 60% less than he paid. The San Diego Housing Commission gave us 25% first time home buyers down payment assistance at 3% interest and helped us fix up our new home into a beautiful canyon view haven of relaxation. We can see the ocean from our yard. I’m happy...
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You must know your top 10 enemies of becoming first time home buyers if you going to defeat them.  You must acknowledge that you have many strikes against you. Let me repeat, you have to be extremely motivated to do this. This list is short, but the top 10 enemies of becoming first time home buyers will give you plenty enough to keep you busy fighting. Here are your top 10 enemies of becoming a first time home buyer as well as a plan to defeat them. Enemy 1: Saying I can’t. How to overcome this enemy: Say you can 100 times a day and have at least 1 thing you did that day to prove you are moving forward with acquiring your home.   Enemy 2: Bad credit. How to overcome this enemy:  I found a needle in a haystack awesome credit building specialist. Call me. (619) 886-1826 or email me below to connect you. (By the way once my mind was made up my credit score skyrocketed 160 points in 8 months.)   Enemy 3: Having a bad mortgage broker or loan officer. How to overcome this enemy: I found a needle in a haystack scientist of a loan specialist that helped us when EVERYONE said no. Call me.   Enemy 4: Having a bad realtor How to overcome this enemy: I found another needle in a haystack drop dead awesome realtor who worked with us. Call me.   Enemy 5: Being untruthful on your taxes How to overcome this enemy: Get yourself honest. Revise your last 3 years of taxes with real numbers. I have an ace tax guy that can help you. Call me.   Enemy 6: Not saving money How to overcome this enemy: Screw eating out and coffee for a while. Here are some...
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Guys you have to be honest on your taxes. Here’s what happened to me. I am self-employed, had recently started my business and it was growing. The San Diego housing commission told me that it is very difficult for self-employed people to qualify for the first time homebuyer downpayment assistance program. It was just a 3 year old business. To make matters worse, my wife is also self-employed. We used an awesome loan person who said that in five years she’s only had one person qualify as a self-employed borrower in the San Diego first time homebuyer downpayment assistance program. And then she said, “you know…you just might be the second one” Why? Because I have always been honest on my taxes just like I strive to be honest in everything. No other way guys, you have to be honest on your taxes. You have to be honest on your taxes. The San Diego housing commission looks at your tax records going back a number of years so have everything in order.   If everything is not in order and truthful go back and have those taxes corrected. Your income must show that you have less than 81% of San Diego AMI or average median income but enough to show your debt to income ratio is low. Need help understanding this? Please call me or send an email below. I have the most quirky tax guy on the planet, but he is absolutely brilliant and is one of the big reasons we are enjoying our beautiful home right now. Call me now so I can put you in touch with him. (619) 886.1826 or shoot me an email on a couple of good times to contact you. Please remember, be honest on your...
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Get your credit score high as you can starting today. The San Diego housing Commission was scared to loan to us at first.  When we first found the San Diego Housing Commission (and it took us awhile with all the misinformation we received) it became very clear that they viewed us as a risk and they didn’t feel we could pay them back.  They didn’t feel we were qualified to do it because our credit scores, specifically mine was not high enough. I was incensed I had been so naive to how important good credit is. I had a credit score of 620 because of false items on my credit report. I was beside my self in anger and disbelief. Get your credit score high as you can. In 8 months my credit score went up from 620 to 760 on experian. Transunion and equifax were ignored by the San Diego housing commission, even though I was over 800 on both of them. To get that score I had to pay down or off all my credit cards (not close them) and buy a car on credit to demonstrate I had a recurring loan I could pay for.  Usually I bought cars for cash, but that hurt me when trying to get a high credit score. So we bought a used car and paid it off at the 8 months point. These are just a few things you can do to get your credit score high as you can. The advice and personal assistance we receive from a wonderful local credit building specialist has been spot on 100% of the time. In fact, using his methods our credit has responded better and faster than even he thought it would. Please give me a call as I’d love to put you in touch...
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Only a credit building specialist has the skills needed to get your credit score higher quickly. Trouble is credit building specialist are by and large dishonest crooks. Somehow I beat the odds and found the only credit building specialist I would trust. He opened my eyes to a world of credit bureaus which was both complex and disheartening. This is stuff we should have learned in the 3rd grade, but somehow we can be 60 years old and totally ignorant. This entire process of building financial credit is fascinating and I learned the credit bureau’s are the most vicious sharks you will ever come across.    I finally met someone that has learned how to use the credit bureau’s methods against them to speed up raising your credit score.     You must have a great credit building specialist on your team. His name is Linton and he is amazingly bright, honest, and helpful credit building specialist. In fact when I help someone go through the San Diego first time homebuyers program and assist them with the purchasing their home, it is a requirement for them to sit down one hour in Linton’s “know how credit works class”. I know a lot of you have been burned by credit people before, I hear you. But this guy got into the business just because of them. He is bent on helping the less fortunate stop being victimized by the rich amongst us. He has a class that is mandatory to attend and emails you monthly updates on the progress of your credit portfolio. There is no one like him I have ever met. You can beat experian, equifax, and transunion and own your home. The feedback has been through the charts on how educational his class is and how it has...
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Finding a San Diego mortgage broker or lender was no easy task. Go to the San Diego housing commission website you will find a list of about 100 or so mortgage brokers and I was completely overwhelmed when I saw that list.  See what I mean? I called a few of them and they were all very arrogant and rude and would not answer any of my questions. I had researched mortgages thoroughly and knew what I wanted. They said things like “we ask the questions here and we are not going to help you at all unless you give us your name, social security number proof of income etc. etc.” My competitive nature came up and I just refused to talk to any of them further.   Tip: Do not ever fork over your social security number this early in the process. This will harm your credit score if not done correctly.   The timing of when you do this DOES matter in how much you pay on your loan. You stand to lose thousands if not done correctly. Do not let anyone bully you into forking over your social security number, I don’t care how awesome they sound; not at this stage of the process. Finding a San Diego mortgage broker who is worth their salt would never ask you to fork over you social security number this early in the process. I put all of their email addresses in one email with my required questions and criteria for dealing with them and sent a blast to all 100 of them. I was now in control of the entire finding a San Diego mortgage broker process. I did it my way! Only 15 or so of that 100 responded. Of that 15 only 2 would even consider my...
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San Diego first time home buyer down payment assistance may not come in the form you think it will. After you have decided on a mortgage broker, you have to realize that this first time San Diego homebuyer program covers the second loan, third loan, and sometimes fourth loan. Down payment assistance does not cover the first loan. The first loan, the biggest loan, referred to as the primary loan, is not given or overseen by the San Diego Housing Commission like the other loans. That loan will be a tough one to get at a good rate depending on your situation. This primary loan has nothing to do with the San Diego Housing Commission other than they want to know that you have a been approved for a loan  with an amount high enough for them to add their funds to pay for your new home. Their down payment assistance will cover the gap between the highest amount of your primary loan and what dollar amount you need to purchase the home. Down payment assistance is not just one loan. Being self-employed it was very hard for me to get a good rate on that loan. Even with a very high credit score of 760, the lowest mortgage I could get at the time was a 6.75%. I was eventually able to get that lowered to a 4.62% through refinancing. The down payment assistance rates stay locked at the deferred payment rate of 3% for the life of the loans. Get that credit score as high as you can. Of course you have already been through Linton’s “know how credit works” class and he has got you well above 700 right? If not call me right now at (619) 886.1826 and I’ll get you in touch with him. Please try the...
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Ok guys. Get ready to show your financial underwear.  The mortgage person asked us for lots of documents that we have shared with no one before. Profit loss statements for the year, proof of income, bank statements, past bank records, employee pay stubs, past tax returns, investment statements, all sorts of documents. We felt really as if the underwriters were staring at us in our underwear. So get ready to show your financial underwear.   There are really no financial secrets that you can hide and successfully to get into the first San Diego first time homebuyer program. Any investments that you have, any money that may have been gifted to you through inheritance, they want to see everything. So get ready to show your financial underwear. What is their goal? It seems the objective of this humiliating process is to make sure that you meet their requirements for income versus financial obligations. This is not only a protection of their investment in you but also a protection for you as a future homeowner. The last thing we want to do is become obligated to pay for a home that we cannot afford. This process helps protect us from ourselves in many cases. Emotions run high at times like this and our better judgement can be more easily compromised. If you look at the literally thousands of foreclosures that happened in San Diego over the past 7 years, one thing I can guarantee; the majority of those folks never went through the first time home buyer program in San Diego.   It would have saved them from countless amounts of heartache and stress. Now that we’re in our home looking back, it seems fair to hand over all of our personal financial information if they were going to loan us so much money;...
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