Ca Legislators want to Help Home Buyers with Down Patment

 

Effective immediately: The Federal Housing Administration (FHA) announced a 30-basis point reduction to the Annual Mortgage Insurance Premiums (annual MIP) it charges borrowers for FHA-insured Single-Family Homes.Based on a $500,000 loan, the monthly difference in savings is $125! That’s approximately $1500 per year!Every little bit counts these days. One other change coming on April 7th, 2023, is the reduction in the VA funding fee. Currently it’s at 2.3% for first time use and will be lowered down to 2.15%. it is a true no money down loan for Veterans., The VA funding fee is a one-time fee paid to the Department of Veterans Affairs. While most Veterans currently pay 2.3%, this fee ranges from 0.5% to 3.6%, depending on the loan type, if you’ve used a VA loan before or if you have a down payment greater than 5%. This amount is added to loan and is not required to pay for it up-front. Borrowers with service-connected disabilities and select others might not have to pay it at all.

First-time buyers often rely on family gifts to afford the down payments on their homes. Now California Legislators want the government to fill the role of generous relative. Lawmakers are proposing creating a billion-dollar fund in this year’s state budget that would provide California’s first-time buyers either all of the money they need for a down                                                                      payment, or very close to it, in exchange for partial ownership stakes in those residences. The proposal, put forward by state Senate President Pro Tem Toni Atkins, comes as                                                                           skyrocketing property prices broaden the divide between those who own their homes and those who rent in California. In the past year, Golden State homeowners gained                                                                                  $141,000 in home equity, on average, the housing research firm CoreLogic reported last week, more than in any other state. 

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Autobiography I GET BY GIVING He was sitting 45’ high above the ground on a 26” wide pole without a safety harness. He could not afford a pair of safety gloves. He was holding 15,000 volts in his bare hands. A shock or a slight distraction and this 18 years old boy would have come down to the ground on his final journey. What he wouldn’t do to make an honest living. Today some 30 years later, sitting at the other end of the world, Zaheer Mallik often talks about the experience that taught him a respect. Zaheer Mallik understands that different people have different values, desires and ambitions. We never know to what length someone will be willing to go in pursuit of their need, desire, want or ambition. Respecting other people wishes is all this life is about. Our circumstances create our values, likes, dislikes. Circumstances also change our values without a conscious effort on our part. But through all this, if we learn the truth, we master a formula of success. At that point no challenge is too big, no habit is too hard and no obstacle id too high. Mr. Zaheer Mallik’s desire to be somebody brought him to the United State of America in 1979. Little did he know that this world of opportunity has its own challenges? This land of abundance offers it to whosoever can pay the price. In his thirst of success, he developed an insatiable desire for alcohol. Through this ugly disease, he lost all – his family. In his desperate moment he looked up for GOD and what he saw was this 18 years old playing with live wires, just to make a living. That was a moment of truth for him. He had found his purpose, his strength and his mission in life. He gave up drinking, Smoking and negative thinking all at the same time. Since then he has helped. First time buyers buy homes …… Sellers sell houses, and many others lose weight, give up smoking and drugs. His motto is “ I GET By Giving”. He gets fulfillment from a smile, a hug or a thank you. And he has received many thanks, hugs and smiles by helping other people. Mallik’s desire to help has made him the King, LISTING & SALES KING: because he will do what ever it takes to produce results on time. His genuine desire to help people and his long list of friends and acquaintances make him very creative and versatile. Through his creativity, he has closed sales most people thought couldn’t be concluded. He is very helpful, courteous and knowledgeable. He charges nothing for his consultation, is not greedy or pushy. So, if need help Buying or Selling a House or need help in Self-Improvement, please cal him at his direct line Cell (310) 560-7815.

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