Your Down Payment 1%* Full Service REALTOR® Save 45%** to 83%** vs a 6%* Fee, Save $25000 vs 6%* @$500k, Should You Hire A Discount Brokerage Agent Firm with 28+ YRS EXP, Sacramento Real Estate Agent Company Standard Commission Anatolia, Antelope, Arden, Carmichael, Citrus Heights, El Dorado Hills, Elk Grove, Fair Oaks, Folsom, Gold River, Granite Bay, La Riviera, Laguna, Lincoln, Loomis, Natomas, Orangevale, Plumas Lake, Pocket, Rancho Cordova, Rocklin, Rosemont, Roseville

The Down Payment

The amount you have available for a down payment will affect what types of loans for which you can qualify. Down payments typically range from 3 to 20 percent of the sales price for the property.

Tips for Accumulating a Down Payment

Save
Look for ways to reduce your monthly expenditures to save toward a down-payment. You could enroll for an automatic savings plan at your bank to have a portion of your payroll automatically transferred into savings. Most people save a couple of years for their down payment.
Borrow the down payment from your retirement plan
Check the provisions of your retirement plan. You can borrow funds from a 401(k) plan for a down payment or make a withdrawal from an Individual Retirement Account. Be sure you understand the tax consequences, repayment terms and/or possible early withdrawal penalties.
Move
You may be able to save additional funds if you can move into less expensive housing.
Reduce other higher interest rate debt
Paying off credit cards will initially reduce your savings, but the money you will save from higher interest rates will pay-off in the long run.
Make a deal with the seller
In some circumstances, it is appropriate to ask the seller to carry a second-mortgage to cover your down payment. Typically, you will pay a slightly higher rate for this second mortgage.
Sell some investments
Get a second job and save your earnings
Skip a year's vacation
Gift from Family
Parents and other family members are often anxious to help children buy their first home and may have the means to give you a gift of money for a portion or all of your down payment.

Alternative Sources

No-down and low-down Mortgages
- FHA Loans
  The Federal Housing Authority (FHA), which is part of the U.S. Department of Housing and Urban Development (HUD), plays a significant role in helping low- to moderate-income families qualify for mortgages. FHA assists first-time buyers and others who would not qualify for a conventional loan, by providing mortgage insurance to private lenders. Interest rates for an FHA loan are usually the going market rate, while the down payment requirements for an FHA loan are lower than conventional loans. The required down payment can be as low as 3 percent and the closing costs can be included in the mortgage amount.
- VA Loans
  VA Loans are guaranteed by the U.S. Department of Veterans Affairs. Service persons and veterans can qualify for a VA Loan, which usually offers a competitive fixed interest rate, no down payment and limited closing costs. While the VA does not issue the loans, it does issue a certificate of eligibility required to apply for a VA loan.
- Piggy-back Loans
  A second mortgage that closes with the first. Often the first mortgage is for 80% of the purchase price and the "piggyback" is for 10%. The home buyer covers the remaining 10% with their down payment. (Some lenders will write a second mortgage of 15% or even 20% of the purchase price.)
- "Carry Back" Mortgage
  In the case of the seller "carrying back a second mortgage", the seller loans you part of his or her equity. In this scenario, you would finance the majority of the loan with a traditional mortgage lender and finance the remaining amount with the seller. Typically you will pay a slightly higher interest rate on the loan financed by the seller.

Housing Finance Agencies
These agencies offer special loan programs to low- and moderate-income buyers, buyers interested in rehabilitating a home in a targeted area, and other groups as defined by the agency. Working through a housing finance agency, you can receive a below market interest rate, down payment assistance and other incentives.

The primary mission of Housing Finance Agencies is to boost home ownership in targeted areas, among first-time buyers and those with little money for down payments. Most of these non-profit agencies were funded with state government seed money and now operate independently.

Click here for a list of Housing Finance Agencies.

Documenting Your Down Payment

Documenting that the down payment comes from your savings and that you will have savings and/or assets over and above the down payment gives the lender confidence in your strength as a borrower and your ability to repay the loan.

Take extra care to document the sources for any monies to be used for the down payment or closing costs.
Acceptable Down Payment & Closing Costs Sources
- Cash in a bank account
- Mutual funds / stocks / IRA / 401K
- Proceeds from the sale of another property
- Gift from an immediate relative
Click here to learn more about verifying your down payment, closing costs, income and debt.

This Seller Saved Thousands of Dollars vs. the 6% fee, you can save too!

Areas we service include: Anatolia, Antelope, Arden-Arcade, Carmichael, Citrus Heights, El Dorado Hills, Elk Grove, Fair Oaks, Folsom, Gateway West, Gold River, Granite Bay, La Riviera, Laguna West-Lakeside, Lincoln, Loomis, Mather, Natomas Crossing, North Natomas, Orangevale, Plumas Lake, Pocket-Greenhaven, Rancho Cordova, Rocklin, Rosemont, Roseville, Sacramento, South Natomas, Sundance Lake, Vineyard, Villages of Zinfandel, West Sacramento.

We look forward to talking with you soon, as we feel thataggressive competition among licensed real estate agents in an unfettered open marketplace gives consumers greater innovation (like our Full Service for less Opt-Out or Opt-In to the MLS program) and lower commission costs (like our 1%* fee, subject to minimum list price and minimum fee limitations*). We can continue our 25+ years of saving consumers thousands of dollars in commissions with our innovative business model as long as there are no rules or regulations passed or interpreted meant to restrain competition among brokers which would suppress our technological innovation and reduce competition on price and quality resulting in consumer injury by higher costs to sell a home.

___________________

NORTH AMERICAN-REALTORS^®
Managing Listing Broker:
Doug Bautista
Senior Sales Associate
BSRE, BSF

28+ YRS EXP REALTOR^®
CalBRE# 01031256
Semper Fi!

Fair Housing And Equal Opportunity
__________________

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* Notice: The amount or rate of real estate commissions is Not Fixed by law. They are set by each broker individually and may be negotiable between the Seller and Broker. Any reference to a 6%* fee/commission is for savings comparison with the 1%* fee and was solely chosen as a sample number as any fee/commission (5.8%*, 5.9%*, 6.1%*, 6.2%*, 7%*, 8%*, 9%*, 12%*, etc.,) can be negotiated by any real estate professional. The fees/commissions described on this website may change from time to time without notice and are subject to minimum listing limitations. The Listing Broker's Minimum Listing Fee is $2,950. The Listing Broker's Minimum List Price is $295,000 (excluding zip codes 95825, 95826 Minimum List Price $250,000). The low cost discount full service listing offer does not include Short Sales as they are more complex and time consuming transactions. We specialize in Residential Home sales and do not offer Commercial Real Estate services. The higher the Sales Price the More you SAVE! We can continue our 27+ years of saving consumers thousands of dollars in commissions as long as there are no rules or regulations passed or interpreted meant to Restrain Competition among Brokers which would injure consumers thru higher costs to sell a home. Entry into the MLS and payment of an MLS Agent's additional fee is NOT mandatory and NOT necessary to receive Listing Broker's FULL SERVICE ("all necessary services") for only 1%* commission as we encourage expanding Consumer's Choice in Real Estate Services to prevent Anti-Competitive Practices. We provide FULL SERVICE to all Sellers whether they Opt-In or Opt-Out of the MLS. Seller can Opt-In to the MLS and pay an MLS Agent's additional fee at any time during the listing. Any reference to "overpriced 6%*" in advertising is solely meant to inform the consumer of our belief that we feel if we charged a consumer a 6%* listing fee we would be pricing NORTH AMERICAN-REALTORS® listing fee too high, thus our 1%* commission. The phrase "overpriced 6%*" in advertising is part of the negotiating of the commission between the listing Broker and Seller as the consumer knows from this phrase that when they list with NORTH AMERICAN-REALTORS® they will not be charged a 6%* listing fee. The "6%* circle-backslash symbol" in advertising is solely meant to inform the consumer that NORTH AMERICAN-REALTORS® does not charge a 6%* fee as part of the negotiating of the commission between the listing Broker and Seller. There is no minimum mandatory amount of compensation you must offer an MLS cooperating Buyer's agent as every Seller freely chooses the amount to offer. The Listing Broker is Doug Bautista who has been a member of the Sacramento Association of REALTORS® for over 28+ years and who charges the 1%* Full Service fee (save 45%** to 83%**) advertised on this website. NORTH AMERICAN-REALTORS® agents are free to negotiate/advertise whatever commission is acceptable between Seller and Agent. We support the Sherman Antitrust Act. We do not support any trade association, organization, corporation, real estate broker or real estate salesperson that attempts to Standardize or Fix Real Estate Commissions or Suppress Market Competition and any monopolization, attempted monopolization, or conspiracy or combination to monopolize. We believe that free and open markets are the foundation of a vibrant economy and aggressive competition among licensed real estate agents in an open marketplace gives consumers the benefits of lower prices (like our 1% fee), more choices (like Opting-In or Opting-Out of MLS), and greater innovation (like our brokerage).

**  Savings of 45% to 83% vs a 6% fee are approximate figures as the exact savings are 45.83333333333% (6% minus 3.25% = 2.75% divided by 6% = 45.83333333333% savings) to 83.3333333333% (6% minus 1% = 5% divided by 6% = 83.3333333333% savings)

All property details including but not limited to Age, Lot Size, Square Footage is deemed reliable but in no way is guaranteed. Listing Broker obtains information from Public Tax Roles and/or Seller and has not personally verified the information nor measured the homes square footage or lot size. Buyer shall be solely responsible for hiring experts to inspect all aspects of the property to ensure Public Tax Role or Seller provided data is accurate or acceptable.

We will continue to Promote Fair Competition preventing monopolies in the real estate business for the benefit of all consumers as lower commissions allows homeowner's to keep more of their hard earned equity. For additional information regarding Competition in Real Estate visit the Federal Trade Commission and/or the State of California Department of Justice. For additional information regarding Anti-Competitive Conduct enforcement visit the United States Department of Justice.   Consumers are the best source of information to a Possible Violation of antitrust laws. Any questions or concerns regarding anticompetitive conduct by any corporations, agents or brokers in the real estate industry can be emailed to: RealEstateCompetition@usdoj.gov and/or piu@doj.ca.gov

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