There are several first-time homebuyer programs available in Hayward, California. Here are some options you may want to consider:

Hayward First Time Homebuyer Program: This program provides eligible applicants with a deferred-payment loan of up to $150,000 for down payment and closing costs assistance. The loan is repayable only upon sale, transfer, or refinance of the property. To be eligible, you must meet certain income and purchase price limits and attend a homebuyer education course.

Alameda County Homeownership Programs: The county offers several programs for first-time homebuyers, including the Mortgage Credit Certificate Program, which provides a federal tax credit of up to 20% of mortgage interest paid each year, and the MyHome Assistance Program, which offers up to 5% of the purchase price in down payment and closing cost assistance.

CalHFA: The California Housing Finance Agency (CalHFA) provides several programs to help first-time homebuyers, including the CalPLUS Conventional program, which offers a deferred-payment loan of up to 3.5% of the purchase price to help with down payment and closing costs, and the CalHFA FHA program, which provides a low-interest rate and down payment assistance.

HUD-Approved Housing Counseling Agencies: HUD-approved housing counseling agencies in Hayward can provide free or low-cost counseling services to help you understand the homebuying process, determine your eligibility for assistance programs, and prepare for homeownership.

It’s important to note that eligibility requirements and program availability may vary, so it’s best to contact each program directly for more information and to determine which one may be the best fit for your specific needs and circumstances.

Assuming a 30-year fixed-rate mortgage, here’s an estimate of what your monthly mortgage payment, property taxes, and homeowners insurance might be for a $400,000 house with a 20% down payment and a 6% interest rate:

Mortgage payment:
The amount borrowed would be $320,000 (80% of the purchase price), and the interest rate is 6%. Using a mortgage calculator, the estimated monthly payment for principal and interest would be around $1,919.

Property taxes:
Property taxes vary depending on the location of the property. As an example, let’s say the property is located in a county with an annual property tax rate of 1.2% of the home’s value. That would amount to $4,800 per year or $400 per month.

Homeowners insurance:
The cost of homeowners insurance also varies depending on the location of the property, the age of the home, and other factors. As an example, let’s say the annual cost of homeowners insurance is around $1,200. That would amount to $100 per month.

So, the total monthly payment including mortgage payment, property taxes, and homeowners insurance would be around $2,419. Please note that this is just an estimate, and actual costs may vary depending on a variety of factors.

Extra Credit Teacher Home Purchase Program – This program provides down payment assistance and reduced mortgage rates to teachers and school employees in California. The program is available through CalHFA and offers up to $15,000 in assistance.

School Teacher and Employee Assistance Program (STEAP) – This program provides down payment and closing cost assistance to teachers and school employees in Santa Clara County. The program is administered by the Santa Clara County Housing Authority.

Good Neighbor Next Door Program – This program provides a 50% discount on the list price of HUD homes in eligible areas to teachers, law enforcement officers, and other eligible public servants. The program requires a three-year occupancy commitment.

Home Possible Advantage for Teachers – This program provides affordable financing options to teachers and school employees, including reduced mortgage insurance premiums and flexible credit requirements. The program is available through Freddie Mac.

Teacher Next Door Program – This program provides grants and down payment assistance to teachers and school employees who are purchasing homes in designated revitalization areas. The program is available through the Department of Housing and Urban Development (HUD).

Scams are no joke. They involve trust and violating that trust. They involve intercepting information as it’s being transferred quickly under strict deadlines. We are trained to look out for scams. I wanted to spend a moment talking about how you can avoid them in your next real estate transaction.

Work with a reputable real estate agent: A good real estate agent can help you avoid scams by guiding you through the buying process, performing due diligence on properties, and identifying any red flags.

Conduct thorough research: Before buying a property, research the seller, the property, and the neighborhood. You can use online resources such as property listing sites, county property records, and Google Maps to gather information.

Inspect the property: A thorough inspection of the property can help identify any potential issues that could be signs of a scam. This includes hiring a licensed home inspector to inspect the property.

Check the title: It’s important to verify the title of the property and make sure there are no liens, encumbrances, or other issues that could cause problems down the road.

Don’t wire money: Scammers often ask buyers to wire money to secure a property or pay for closing costs. Instead, use a secure payment method such as a cashier’s check.

Be wary of too-good-to-be-true deals: If a property seems too good to be true, it probably is. Scammers often use low prices to lure buyers into a scam.

Trust your instincts: If something seems off or suspicious, trust your instincts and investigate further before making any decisions.

SB 1017 is a California state law that covers several aspects related to tenant screening in the state. The law, which went into effect on July 1, 2020, includes the following provisions:

Reusable Tenant Screening Reports: SB 1017 requires tenant screening companies to provide tenants with the option of a reusable screening report that can be used for up to 30 days to apply to multiple rental properties. This aims to reduce the financial and time burden on tenants who need to apply for multiple rental properties.

Disclosure of Screening Criteria: The law requires landlords to provide potential tenants with a written notice that includes the criteria that will be used to evaluate their rental application. This aims to increase transparency in the rental application process and ensure that tenants are aware of the standards they will be held to.

Restriction on Criminal History Screening: SB 1017 also prohibits landlords from denying a rental application solely based on a person’s criminal history. This applies to criminal convictions that are older than two years, non-felony marijuana convictions that are older than two years, or arrests that did not result in a conviction.

Security Deposit Limits: Finally, the law sets limits on the amount of security deposits that landlords can collect from tenants. For unfurnished residential properties, landlords can collect up to two months’ rent, and for furnished residential properties, landlords can collect up to three months’ rent.

Overall, SB 1017 seeks to provide tenants with greater protection and transparency in the rental application process, while also limiting the financial burden that tenants face when applying for multiple rental properties.

One way to assess it is with a fire hardening disclosure. The seller fills it out and delivers it to the buyer to review during their investigation period.

Fire hardening disclosure is a term used in real estate to describe a disclosure statement made by a seller or their agent to inform potential buyers about the fire-hardening features of a property. Fire hardening refers to the practice of making a property more resistant to damage from wildfires, which are a common natural disaster in many parts of the world.

The fire hardening disclosure typically includes information on the specific fire-resistant features of the property, such as fire-resistant roofing, siding, windows, and doors. It may also include information on fire-resistant landscaping and defensible space, which is the area around a property that has been cleared of flammable materials to reduce the risk of a wildfire spreading.

The disclosure is designed to inform buyers of the fire resistance features of the property so that they can make an informed decision about the level of risk associated with the property. In some areas, such as those with a high risk of wildfires, a fire hardening disclosure may be required by law.

If you are tired of paying for rental application fees over and over again, there is some help from the law to aid you cut down on this cost with cooperating landlords

Convenience: With a reusable screening report, tenants can share their screening information with multiple landlords without having to go through the screening process each time. This can save time and effort, especially if you are looking for multiple rental properties.

Cost Savings: Since tenants typically pay for the cost of screening reports, using a reusable report can save them money by not having to pay for multiple reports.

Transparency: By using a reusable report, tenants can have greater control over who sees their screening information and can ensure that all landlords are seeing the same information.

Accuracy: Reusable screening reports are generated by tenant screening companies that use reliable and up-to-date information. This can help ensure that the information provided to landlords is accurate and up-to-date, reducing the risk of errors or discrepancies.

Privacy: By using a reusable screening report, tenants can maintain their privacy and personal information, as they do not have to provide personal identifying information multiple times to different landlords.

Fintech in real estate includes a range of technologies, such as online marketplaces, crowdfunding platforms, digital mortgage applications, virtual property tours, and blockchain-based property registries. These technologies enable buyers to easily search for properties, sellers to easily list their properties, and investors to easily invest in real estate.

One of the key advantages of fintech in real estate is the increased transparency and security it offers. With blockchain-based property registries, for example, transactions are recorded on a secure and tamper-proof ledger, reducing the risk of fraud and errors. Additionally, digital mortgage applications and online marketplaces enable buyers to access a wider range of properties and mortgage options, while reducing the time and costs associated with traditional real estate transactions.

People think they can work with multiple agents and choose none of them and proceed with the sale, but what they don’t know is that they could be throwing away thousands of dollars and putting themselves in a strange position.

Loyalty: When you work with multiple agents, it can be difficult to establish a clear relationship of loyalty with any one of them. This can lead to confusion and misunderstandings about who is representing you and what their responsibilities are.

Representation: Real estate agents owe a fiduciary duty to their clients, which means they must act in their client’s best interest. When you work with multiple agents, it can be difficult to ensure that each agent is acting solely in your best interest.

Legal issues: Depending on the state and the agreements you have in place with each agent, working with multiple agents could potentially lead to legal issues. For example, if two agents both claim to have represented you in a transaction, it could lead to disputes over commissions and potentially even lawsuits.