First-time Home Buyer

As defined by the U.S. Department of Housing and Urban Development (HUD), the following must be met to be classified as a first-time home buyer:

• ◉ An individual has yet to own a principal residence for three years.
•     If the said individual has owned a house but the spouse is yet to, then they can buy a home together as first-time homebuyers.


• ◉ A single parent who only owned a house with a former spouse whilst married.


• ◉ A homemaker who was displaced and only owned a house while with the spouse.


• ◉ An individual who only had ownership of a principal residence, one which wasn't affixed to a permanent foundation; as described and in accordance with applicable regulations.


• ◉ An individual who only owned a property that wasn't compliant with state, local, or model building codes; a property that,
•     when made compliant, will cost more or equal to the construction cost of a permanent structure.

• ◉ How are you financially? Start with the basics - savings, spending and credit score.
• ◉ What is your mortgage qualification based on your finances? You can use this mortgage calculator to have an idea.






• ◉ What are your home specifications for the one you intend to buy? A single-family house? A condominium? A multifamily home? You'll want one that fits your particular situation.
• ◉ What particular features do you want the home to have?

Palm Realty provides assistance for individuals who’ve never purchased a home before, including programs and special loans, for first-time buyers. Here's what you can expect from us.

• ◉ We will work tirelessly to find you a home that not only fits your specifications but maximizes your money's value.


• ◉ We have a wide network of lenders that can cater to your particular financial situation.


• ◉ We will guide through your financial assessment qualification and pre-approval for lenders.


• ◉ We will negotiate with the listing agents on your behalf; making sure to secure the best deal - based on fair market value.


• ◉ We take care of the mountain of paperwork for closing the sale, as well as the necessary filings.

Frank Farazmand, San Diego Palm Realty CEO and principal broker, has the expertise to help you secure the property you want and facilitate the loan type that you need. Moreover, Frank and his team will always have your interests in mind; guiding you to the best available loan products and payment structures for your consideration.