Rick,

If you haven't claimed interest on an owner occupied property for the past 3 years you might want to look into getting a loan through this program:

California Housing Finance Agency


Sure, as with any Mortgage Revenue Bond programs in the country there are quite a few more pages to sign (as if there isn't enough anyway when you close a loan) but they can help you with down payment through 30 year 'silent' seconds (that means that they are only payable if/when you sell the house or if you refi).

They have a few programs available but the rates are not as competitive right now (6.75% or even 7.00%) since they do allow financing up to 95%.

I too plan on buying a house in the next 2 years and plan on using that program.

The thing that really sucks is that due to my insider information, I am not allowed to buy any foreclosed home by my company. So what if I know how many bids are on a house... I don't really have a problem with it LOL


A gem cannot be polished without friction, nor a man perfected without trials. ~Chinese Proverb

The early bird gets the worm, but the second mouse gets the cheese. ~Jon Hammond