Released on = May 7, 2007, 4:05 pm

Press Release Author = Camelot Marketing

Industry = Financial

Press Release Summary = 100% California home mortgage loan programs available to
first time home buyers, even with stated income.



Press Release Body = Your decision to be a California first time home buyer is both
a sound financial decision and a commendable achievement. But before you start here
is some home buying advice that helps put you in your dream home.

Buyers of Calfiornia real estate should not feel overwhelmed at the process of
purchasing their first home. A professional, patient lender who specializes in loans
for first time home buyers will take the time to educate you in the loan process is
advised.

When you first meet with the lender, bring all your "dumb" questions. Again, a
lender who deals with first time home buyers will be more equipped to answer all
your questions and ease your fears. An experienced loan consultant will guide you
through the loan process and make your dream of owning California real estate a
reality.

Many lenders have 100% loans available to first time home buyers who do not have
enough money for a down payment. Our research has even found a 100% loan which only
requires a "stated income".

A stated income is different from a "verified" income where the lender will require
current pay stubs to verify your income. With a stated income loan, the lender will
accept what the borrower "states" as his or her income. The stated income must be
within reason. You can't say that you are a fast food cashier who makes $60,000 per
year.

Our research also uncovered a first time home buyer, 100%, stated income loan which
requires no reserves. A reserve usually refers to monthly payments. If a lender
requires 2 months reserves, they are looking for 2 months P.I.T.I. (principal,
interest, taxes & insurance) in a liquid account.

Your FICO (credit) score is very important for first time home buyers of California
real estate. Our research discovered that the above described loan qualified with a
FICO score as low as 640! The higher the FICO score the more programs available for
first time home buyers. We found some good loan programs with FICO scores as low as
620, but with the lower FICO score, you would lose some perks like no reserves or
some stated programs, etc.

For more information on home loans for first time home buyers of California real
estate, please call 866 398 4664 or go to
http://www.goldmedalmortgage.com/FirstTimeHomeBuyerLoans



Web Site = http://www.goldmedalmortgage.com/FirstTimeHomeBuyerLoans

Contact Details = GoldMedalmortgage.com
866 398 4664