Santa Cruz County Home & Community Information


Helping First Time Buyers and FHA Loan Buyers Purchase a home in Santa Cruz County


I recently had a very rewarding transaction where I helped a young couple with 4 children buy a home in Santa Cruz County.  Both were teachers and had been renting a townhome.  They decided to get prequalifed and found out that with the home price drop in Santa Cruz County they could afford to buy a home.  In fact, they would be paying less for their mortgage than for the small townhome they had been renting.

They were First Time Buyers and were prequalifed for an FHA loan, with the 3.5 % downpayment.  For many first time buyers or buyers with low downpayment, FHA loans are a great option. You do have to pay mortgage insurance but you are able to buy a home with less money down. 

I worked with this first time buyer young couple for several months in the early part of this year.  We saw many homes and wrote quite a few offers.  Every home we wrote an offer on had multiple offers and were often bank owned or foreclosed homes.  Sometimes an all cash offer would come in and the seller would choose to accept their offer over ours.  I counseled my clients to not be discouraged and that with persistence and patience we would find them a great home.

One day a lovely 3 bedroom home on 1/2 acre came up for sale.  We wrote an offer on it right away and it was accepted over a few others.  We closed escrow in March 2010.  My clients were estatic that they were able to purchase a home with a 3.5 % downpayment FHA loan with a great rate.  They were now paying less for their mortgage than they had been paying in rent!

I was invited to their housewarming party.  Their 4 children were thrilled to have more space to enjoy both inside and out, it really is a great family home.  They will enjoy owning this home for years to come and will raise their family comfortably there.

Sometimes it does take some persistance on both the part of the real estate agent and buyers to purchase your home, but it is definitely worth it.  I commit 100% to my clients and work until everyone is satisfied.

For those first time buyers considering buying a home in Santa Cruz County I suggest speaking to a lender to see what you may be qualified to buy.  If you don't have a large downpayment, ask about an FHA loan.  You could be surprised about what type of home you can affort to buy in Santa Cruz and even pay less for your mortgage than to rent!

For more details about how to buy a home in Santa Cruz County contact me at (831) 419-9345 or

Go here to read about Santa Cruz County Assistance Programs for First Time Home Buyers

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Authored by Jessica Wallace, Santa Cruz Realtor

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Jessica Wallace
Coldwell Banker
831 419 9345
Licensed In: Ca
License #: 01455690
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Comment balloon 2 commentsJessica Wallace • May 17 2010 02:42PM
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