Check if you qualify today! English PDF Form | Spanish PDF Form

Homeownership Assistance

Ivan Navaro, was born in Chile in 1960 and has lived in Southern California since 1973. He is a highly experienced Real Estate Broker with a strong background in home financing. After obtaining his Real Estate License from the DRE in 1994, Ivan also has received certification as a FNMA community homebuyer Loan Officer in 1994 and became an FHA approved mortgage broker in 2000.

Ivan and Maria are committed to helping countless first-time homebuyers achieve their American Dream of homeownership, by emphasizing the need for person to person counseling and education. He has organized numerous no-cost seminars for other Real Estate professionals and prospective homeowners, focusing on the advantages of federal and state programs that benefit low-to-moderate income families.

He is a certified trainer for CalHFA - California Housing Finance Agency. Ivan currently lives in Riverside, where he and his wife of 25 years Maria Navarro, have raised there 3 daughters. Maria is also a licensed real estate agent and together they own and manage a Real Estate office in the city Riverside California. You might have heard their company ads on your local English and/or Spanish language radio stations.

Ivan and Maria are members of IVAR, Plaza REO, REO Insider and Ivan is on the board of directors of The National Association of Hispanic Real Estate Professionals.

"I consider myself to be a 'front line' kind of business owner. I understand the need for personal attention and make it a point to meet and counsel each client, personally."

Government Assistance for the First Time Home Buyers

There are several ways to get help from the Feds to buy a home.

The most common for California residents is the CalFHA program, here, any-one that is buying for the first time (a first time buyer is some one that has not owned a home in the past three years) and has earnings of under 90K for single and 115K for married couples is eligible to receive down payment assistance and closing cost assistance. The State of California has $1.2 billion from the Federal Government to help first time buyers and troubled home owners that are unemployed.

We work closely with the State to help you take advantage of these programs.

100% Financing Government Loan Program USDA/VA

The USDA is one way to obtain 100% financing. This program is limited to rural areas many of which can be found in the Inland Empire. This program has an income limit of 125% of the medium income. This is approximately 100K for a family. The Veterans Administration (VA) is another Government program that helps U.S. Veterans buy a home with no money out of pocket.

Rehabilitation Loans from FHA 3.5% Total Down

Mortgage financing for houses that are fixer-uppers can be obtained through the FHA utilizing a rehabilitation loan called a 203K. With this loan program buyers are able to secure a loan for the purchase price of the home and all the money needed to make all necessary improvements including cosmetic improvements. The buyer will end up with one loan for both the purchase price and cost of improvements.

Free Loan Modification Counseling

The Department of Real Estate (DRE) advises caution when dealing with a loan modification. Real Estate brokers and law firms are not permitted to charge fees for these services. This is a service that must be provided free of charge to troubled home owners. There are several nonprofit organizations available to help you obtain approved FHA counselors to help secure a loan modification.

Do not pay anyone or any type of fee for this service.

Please visit RESCUE for free loan modification counseling.

Assistance for Troubled Homeowners (Asistencia Para Dueños de Casa con Problemas)
English | Spanish

Governments Refinance Programs – to 125% Loan-to-Value (LTV)

There are several programs offered by financial institutions following Government guidelines to help those that are under water in their mortgages. One Government product in particular will allow you to refinance up to 125% of the home’s value. There may also be a Streamline refinance available.

For these and other refinance products, be sure to contact us.

FHA/VA Streamline Refinance

For those who have an existing FHA or VA loan the Government allows you to reduce your interest rate under a rate reduction program called Streamline Refinance. This program does not require income verification or property appraisal. This program has very liberal qualifying guidelines and is basically a free refinance. I f you currently have an FHA/VA loan at 5.5% or higher you can lower your payments with this program without increasing your existing loan amount.

How to Qualify

You qualify for a home purchase based on your ability and willingness to repay it. Your ability is income verses debt and your willingness is your credit history. The FHA offers very relaxed guidelines on both income and credit qualifications. These loans require a 3.5% down payment and all closing cost can be paid by the seller. We can help you obtain these types of finance programs and get you into your own home in 30 days.

Check if you qualify today! English PDF Form | Spanish PDF Form

I Have No Credit or Bad Credit

The FHA allows for a first time home buyer to have minimal or no credit history, however, we need to demonstrate the buyers payment history on rental, utilities and any other financial obligation. If an individual has credit problems these can often be worked out with some credit counseling and strategies to improve your score. The FHA score requirement is only 620.

If you have questions on challenges with your credit we can help.

Please visit CreditDVD to buy informative DVD's on How to Repair Bad Credit. Here is a video about the product.

Short Sale (What You Need to Know)

Short Sale is a viable option for many under water home owners today. If a loan modification is not possible, then a short sale is something that the banks are willing and eager to work with you on. The DRE also advises against Short Sale fraud. Be sure to contract with a reputable established broker. There are tax consequences and other liabilities you must understand before proceeding. We work with attorneys and CPA’s that can assist you.

Many home owners that choose to do a Short Sale could be eligible to come back to the home buying market within 12-18 months.

Please vistit National Quick Sale to get your short sale started today! Remember to use PROMO CODE: IVAR325 during the process.

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