Zero Down Purchase

If you have a full time job you can buy a home with little or no money down.

I specialize in helping people find lovely homes, in great neighborhoods, for zero down payments. And we do this all for free, with our computerized, no-obligation Buyer/Seller Toolkit which can help you zero in on the best values in exactly the areas you want to live, regardless of which real estate company they are listed with, and when you find the perfect home, my team will help you get it for zero down or low down payment, and for thousands below the listed price.

As you can well imagine, there is too much to tell you about on this web page.

It's very important that we meet in person for a brief consultation to get off on the right foot.
- I will give you a packet of information
- We need to find out what your ideal price range is
- My in house lender can give us a good idea of what you can afford.
- I'll give you a short description of how the process works and what you can expect
- We'll search together on the computer to see what’s available in your price range.

I guarantee that you will leave with some very valuable information:
- A list of the hottest listings that match your search criteria
- A list of our pocket inventory (homes that have not yet hit the market)
- A Home Buyer's Handbook (covers everything from Pre-Qual to Moving In)
- A pre-qualification letter
- A good faith estimate (closing costs)
- A credit report
- 60 valuable reports including:
- 5 common first time owner mistakes
- 10 things to take the trauma out of home buying

This service doesn't cost you a penny. The seller pays our fees if you buy a home. If you don't buy a home, there's no charge to you.

You Can Buy A Beautiful Home With No Down Payment

• Call The E.I. Hotline 24 hours a day - 800-643-0421 Ext. 124
• Call The $100 Down Payment Hotline 24 hours a day - 800-643-0421 Ext. 123

Why Is It So Hard To Find The Low Down Payment Home Loans You're Always Reading About?

Today there are more than 60 different types of home loans, some with extremely low down payments and low monthly payments. Most real estate companies use only 3 or 4 traditional types of home loans - all with higher down payments.

MONEY SAVING TIP: To see for yourself, try calling any real estate company and ask how much money you will need to buy an $485,000 home. They-will probably tell you that unless you are a Veteran and can get a VA loan, you will need $48,500 - $97,000 to buy this type of home. This Just isn't true.

Then why do they say that?

Because most real estate agents don't even know that these special government home loan programs exist! Special low-down-payment home loans are difficult to understand. On top of that, it's hard to keep informed about all the different rules and loans offered by all the different home lenders. Big real estate companies have a hard time keeping their agents up to date about the many low-down-payment home loans.

Many Big Real Estate Companies Consider Special Home Loans An Annoyance

Some companies feel that all the regulations and paperwork involved with low-down payment home loans are too much "fuss and muss." Besides, they're selling enough homes without using these special loans, so why bother?

Another problem – these special home loan programs come and go. They are always offered for only a very limited time. When the funds run out, they're gone. By the time many agents become aware of these great home loans it's too late!

MONEY SAVING TIP: There are many fine home loans to help you buy a home for little or no down payment. At any given time there may be 3 or 4 special home programs for which you qualify. These loans can save you thousands of dollars of interest and give you a down payment of ZERO, or close to it.

"I Was Told That I Earn Too Much Money To Qualify For A Special Home Loan"

Many of these great home loans have income limits, but they're all different. Some "limits" are very high. For example, the income limit for one of the zero-down-payment loans we offer is $84,650. In other words, if you earn less than $84,650, you may qualify for this zero-down-payment home loan!

MONEY SAVING TIP: There are many different types of special loans. These loans come and go, each with different rules and requirements. You may qualify for one or more of these loans.

The "Problem" With Government Home Loans

The problem with these special home loans is that they come and go in a fairly short "window period." For example: a 3% down payment home loan program may become available in April and be out of funds by mid June. To obtain one of these loans, you have to know about them before the funds are gone -- and act fast!

MONEY SAVING TIP: The average real estate agent in a big company, busy with all phases of realty, often doesn't learn about these money saving home loans until it's too late!

You Can Know About New Home Loan Programs Before Most Real Estate Agents

Here at the E.I. Hotline we make it our business to know about every special home loan program available.

Before a new home loan program begins, we learn everything that we can about the loan – then we tell you.

We work with every home lending institution in Northern California and beyond. We know the lenders with the best home loans.

MONEY SAVING TIP: At any given time there are usually two or three super low down payment programs available for home buyers. The loan program for which you may qualify depends on your employment, family size and income.

If you want to buy a home, the first thing we need to do is find the best loan program to fit your needs. We do this for you without cost and obligation.

We Specialize In Only One Area: Helping You Find A Great Home AND A Super-Low Down Payment Home Loan

The E.I. Hotline is the "First Time Home Buyer" program of Michael Phillips. Our only job is helping people find beautiful homes without a lot of money.

Our job is:

1. To seek out and learn about every single low down payment government and private home loan program.

2. To keep you fully informed of the home loans for which you may qualify.

3. To help find the perfect home for you.

4. To negotiate the best price and terms on your behalf.

Since 2002, we have helped many home buyers own their own homes for very low (or zero) down payments. We can do it for you, too.

Right Now There Are Some Excellent Home Loan Programs!

State Of California—CaIHFA Formerly known as CHFA Program.

For current below market rate visit http://www.calhfa.ca.gov/

High Cost Area Home Purchase Program - HiCAP
Deferred for 30 years or until first is disturbed
5% simple interest

CA Housing Assistance Program -CHAP
3% of sales price
5% simple interest
Deferred for 30 years or until first is disturbed

Housing Trust of Santa Clara County (HTSCC)
Provides a 0% interest rate loan up to $6,500 for
down payment assistance and/or closing costs.

CA Homebuyers Down payment Assistance Program (CHDAP)
3% of sales price
3% simple interest
Deferred for 30 years or until first is disturbed

Zero Down Payment Split Mortages
80 % first mortgage
20% Fixed second mortgage or Home Equity Line of Credit (HELOC)

Here's how the Zero Down Payment Home Loan Program has worked for many of our clients and could work for you, too:

Qualifications
To qualify for any of the above home loan programs, you MUST have full-time employment and a record of paying all of your bills and rent (or house payments) on-time for the last 14 months.

Our Service Is Free For You
All of our services are free to you. We'll help you find a great home and a low or zero down payment home loan - free. We're paid by the seller in the event you buy a home.

Do You Qualify?
Perhaps you feel that you can't qualify to own a home. Many people never thought they could own a home until they discovered the E.I. Hotline. These folks now live on quiet streets in their own beautiful homes with family rooms, private back yards and garages - all because they picked up the phone and called us.

You can own a home, too. Just pick up the phone and call 800-643-0421 Ext 123 anytime, 24 hours a day, to hear a free recorded message listing beautiful homes all over town that you can buy for low or zero down payment.

If you would like to look at homes, have private showings of homes, or just ask more questions, call Michael Phillips, at 408-979-5935. There is no charge, and no obligation. We'll do anything we can to help you find the right home, in the right area, at the lowest interest rate and payment.