First Time Home Buyer Loans

The FHA Loan Program is an excellent source of financing for first time home buyers. The Loan features a low-cost (lowest in the nation) mortgage insurance and lowest rates on the market. The FHA loan when compared to other loans offers best and lowest rate.

The alternative to a conventional 

In comparisons to the traditional 5% down Conventional Loan, the FHA loan offers a lower rate- and low mortgage insurance option, but it is also has a high loan limit. High County loan limits will allow FHA to enter jumbo markets. The cost of living is high, more so near primary markets and the FHFA administration increased limits for Fannie Mae, and Freddie Mac (the purchasers of your FHA Loan). If you are interested in buying and using an FHA loan, we can help! 

Who qualifies for an FHA or Conventional Loan? 

W2 Borrowers

If you have W2 wage income for two years work history with the same employer, you qualify for this home loan. If you have been in the same line of work for more than two years and recently switched up employers, you still qualify for this loan. If you are an executive with limited down payment, less than 20% down, you qualify for this loan. Traditionally, the FHA was used for lower income households but now, low income is $85,000-$125,000 in certain markets with specific household sizes. 

Self Employed Borrowers

Self Employed borrowers qualify to buy a home with this loan. The FHA loan requires that self-employed borrowers provide two years of tax returns and a profit and loss statement from your CPA. Usually, the profit and loss will be on the tax return, but if financially and legally structed under a corporation- the profit and loss would come from the accountant. 

W2 Borrowers, Documents Needed

  • W2, 2 Most Recent Years
  • Personal Tax Returns, 2 most Recent Years  
  • 2 Most Recent Paystubs
  • 2 Months Bank Statement 
  • 2 Months Sourcing of Down Payment
  • Drivers License

Self Employed Borrowers, Documents Needed: 

  • Same as above
  • Personal Tax Returns, 2 most Recent Years  
  • Business Tax Returns, 2 Most Recent Years
  • Profit Loss Statement, Balance Sheet (Enough information to conduct a liquidity test) 

How much income do I need to qualify for an FHA or Conventional Loan? 

The question varies for everyone, as everyone has different incomes. Let's take a couple that works together, and they are looking at a home valued at $950,000 in a high median market like Los Angeles, CA. You need at least $164,500 in income to qualify, assuming you have around $1,700 in monthly debt.

What if you have zero debt and want a $950,000 home. Perhaps it's closer to work and more expensive near there, let's call this market Burbank, CA- and you work near the Studios in Finance, you've saved- you have been remote for the last three years, and now your ready to buy a home. You've paid off all your debt, so you have zero debt, in this case you'll need at least $129,000 to qualify for an FHA loan. Now, this means that at $950,000 you qualify for the loan. 


The FHA First Time Home Loan Program is Perfect for:

✅ First Time Buyers or Previous Owners

✅ 1-4 Units

✅ W2 Borrowers or Self Employed Borrowers

✅ Up to 56% DTI

✅ Single, Dual Or Multiple Borrowers

✅ 10, 15, 20, 25 and 30-Year Fixed

✅ 15 and 30-Year Jumbo Fixed

✅ SFR, PUD's, 1-4 Units, (Condo's must be FHA Approved)

 The Conventional First Time Home Loan Program is Perfect for:

✅ First Time Buyers or Previous Owners wanting to put 3% down or up to 20% Down

✅ 1-4 Units (Buy one, rent three units)

✅ W2 Borrowers or Self Employed Borrowers (Must worked for 2+ years in same line of work) 

✅ Up to 50% Debt to Income for Conventional

✅ 10, 15, 20, 25 and 30-Year Fixed Options

✅ 15 and 30-Year High Balance (800K-$1.5M Jumbo Fixed $1M-$3M) 

✅ SFR, PUD's, 1-4 Units, Condo's

Loan Features:

~96.5% Max LTV for FHA and 97% Loan to Value for Conventional which really means 
~3% to 3.50% Minimum Down (conventional and FHA) 
~Max County Loan Limits Apply
~FHA offers lower Mortgage Interest Rates than Conventional Loans
~1-4 units
~Best & Lowest Mortgage Insurance for FHA & Conventional
~Great for Multiple First Time Borrowers
~Quick Close!


Purchase exclusively with Hope Street Funding & Realty, and get a massive discount ! We will pay for:

  • Your appraisal report. 
  • Your processing fees.
  • You'll save thousands of dollars plus
  • We will buy you a new washer and dryer or gift card for $3K to your favorite appliance place for letting us be part of your story!   

Interested in a buying a home, please speak with Carlos Campos, Managing Director of Hope Street Funding & Realty. Feel free to DM/Text/Call: 424.201.0101. 


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Hope Street Funding & Realty

Licensed by the California Department of Real Estate/BRE: #2128366

Licensed by the National Mortgage Licensing #2040148

Equal Opportunity Lender 

Approved in California, Colorado and Florida.

Terms and Conditions Apply 

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Search For A First Time Home Now

View Excellent Starter Homes

Click the links below to sort results by price range.

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411 S Hamel Road # 307, Los Angeles

$2,000,000

411 S Hamel Road # 307, Los Angeles

2 Beds 3 Baths 1,823 SqFt Residential MLS® # 23251205
2001 Cyprean Drive, Los Angeles

$2,000,000

2001 Cyprean Drive, Los Angeles

3 Beds 3 Baths 1,732 SqFt Residential MLS® # 23252201
11982 Mayfield Avenue # 1, Los Angeles

$2,000,000

11982 Mayfield Avenue # 1, Los Angeles

3 Beds 3 Baths 1,995 SqFt Residential MLS® # 23230309
112 E Avenue 38, Los Angeles

$2,000,000

112 E Avenue 38, Los Angeles

3 Beds 3 Baths 2,577 SqFt Residential MLS® # 22193819
3164 Hollyburne Court, Glendale

$1,999,999

3164 Hollyburne Court, Glendale

4 Beds 3 Baths 3,070 SqFt Residential MLS® # 23241231
11587 Sunshine Terrace, Studio City

$1,999,999

↓ $259,001

11587 Sunshine Terrace, Studio City

5 Beds 5 Baths 3,682 SqFt Residential MLS® # SB23038480

awrealestates@gmail.com

4130 Mclaughlin Avenue, Culver City

$1,999,999

4130 Mclaughlin Avenue, Culver City

4 Beds 3 Baths 1,828 SqFt Residential MLS® # SB23012031

310-713-0647

1649 Selby Avenue, Los Angeles

$1,999,999

1649 Selby Avenue, Los Angeles

3 Beds 2 Baths 1,589 SqFt Residential MLS® # 22208007
353 S Hoover Street, Los Angeles

$1,999,999

353 S Hoover Street, Los Angeles

4 Beds 2 Baths 2,875 SqFt Residential MLS® # SR22210021
24934 Old Stone Way, Stevenson Ranch

$1,999,900

↓ $200,100

24934 Old Stone Way, Stevenson Ranch

4 Beds 4 Baths 4,333 SqFt Residential MLS® # SR23007030

661-284-5080

5717 E The Toledo, Long Beach

$1,999,500

↓ $300,500

5717 E The Toledo, Long Beach

3 Beds 3 Baths 2,503 SqFt Residential MLS® # DW23010301

626-230-6306

8438 Cherokee Drive, Downey

$1,999,333

8438 Cherokee Drive, Downey

4 Beds 4 Baths 4,181 SqFt Residential MLS® # 23234663
New
21799 Ocean Vista Drive, Laguna Beach

$1,999,000

21799 Ocean Vista Drive, Laguna Beach

3 Beds 3 Baths 1,646 SqFt Residential MLS® # LG23048484

949-422-6122

New
27191 Woodbluff Road, Laguna Hills

$1,999,000

27191 Woodbluff Road, Laguna Hills

4 Beds 4 Baths 3,656 SqFt Residential MLS® # PW23043564

aveyseh@gmail.com

New
7926 Dunbarton Avenue, Los Angeles

$1,999,000

7926 Dunbarton Avenue, Los Angeles

3 Beds 2 Baths 1,793 SqFt Residential MLS® # 23252687
900 W Olympic Boulevard # 33a, Los Angeles

$1,999,000

900 W Olympic Boulevard # 33a, Los Angeles

2 Beds 3 Baths 1,800 SqFt Residential MLS® # 23252195
2009 N Commonwealth Avenue, Los Angeles

$1,999,000

2009 N Commonwealth Avenue, Los Angeles

3 Beds 2 Baths 1,516 SqFt Residential MLS® # RS23029909

5629779394

6250 Hollywood Boulevard # 14f, Hollywood

$1,999,000

6250 Hollywood Boulevard # 14f, Hollywood

2 Beds 3 Baths 2,230 SqFt Residential MLS® # GD23039303

818-371-0236

10267 Lelia Lane, Los Angeles

$1,999,000

10267 Lelia Lane, Los Angeles

3 Beds 3 Baths 2,598 SqFt Residential MLS® # 23245361
3256 Dos Palos Drive, Los Angeles

$1,999,000

3256 Dos Palos Drive, Los Angeles

3 Beds 3 Baths 3,290 SqFt Residential MLS® # SR23034863
813 Robinson Street, Los Angeles

$1,999,000

813 Robinson Street, Los Angeles

4 Beds 5 Baths 3,659 SqFt Residential MLS® # 23237973
9332 Lubec Street, Downey

$1,999,000

9332 Lubec Street, Downey

3 Beds 4 Baths 4,097 SqFt Residential MLS® # DW23012648

562-277-0330

10541 Clearwood Court, Los Angeles

$1,999,000

↓ $100,000

10541 Clearwood Court, Los Angeles

4 Beds 3 Baths 2,829 SqFt Residential MLS® # 23233801
1564 W 36th Place, Los Angeles

$1,999,000

1564 W 36th Place, Los Angeles

3 Beds 4 Baths 4,318 SqFt Residential MLS® # 22222031

Based on information from California Regional Multiple Listing Service, Inc. as of March 27th, 2023 at 10:30pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.