Released on = July 20, 2007, 9:47 am

Press Release Author = GoldMedalMortgage.com

Industry = Financial

Press Release Summary = No down payment home loans available allow Upland California
apartment renters to become California real estate owners. First step obtain free
mortgage pre-approval letter.

Press Release Body = If you are searching for an Upland CA apartment rental you may
qualify for a zero downpayment home mortgage loan. First time home buyers programs
allow renters to become California real estate owners.
Many renters can afford a monthly mortgage payment, and therefore own a home; they
just do not realize it. Without a down payment they feel that homeownership is not
within reach.
There are numerous lenders that offer 100% loans to First Time Home Buyers who do
not have enough money for a down payment. There are 100% loans which only require 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 for the job.

First Time Home Buyer, 100%, stated income loan that do not require any reserves are
also available. 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.

With these programs available homeownership becomes a reality and the money starts
going back into renters' pocket instead of the landlord.

The first step is to determine how much home that can be afforded based on credit
FICO credit score. A FICO score is very important for First Time Home Buyers, the
higher the score the more programs available.

There are excellent loan programs available 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.

With a little research those looking for a Upland CA apartment rental may be
pleasantly surprised that they can qualify for a home loan.

For more information on home loans for California First Time Home Buyers, please
call 866 398 4664 or go to http://www.goldmedalmortgage.com/FirstTimeHomeBuyerLoans





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

Contact Details = GoldMedalMortgage.com
http://www.goldmedalmortgage.com/FirstTimeHomeBuyerLoans
866 398 4664