What are the benefits for first time home buyer in California?

It is always good to put a down payment. Those that make it sound too easy, are not be honest with you. Now is a good time to buy because of the very low interest rates. It is a buyers market.

I have found this site to be very helpful. You can type in the cities you are interested in and click on a house you like according to what you say your budget is. Then at the bottom of the whole thing, you put the amount that you are putting down, click calculate and it tells you what you will be paying.

They do not bug you either. You will get emails when properties are available in your criteria.

http://www.ziprealty.com/learning-center/buyer-gui...

You're probably not going to be able to buy a home in California for zero down, but there are local programs throughout the state that will provide help with the down payment. These programs are offered from Alameda to Yuba City (sorry, nothing that starts with the letter z).

Additionally, many of these municipalities offer classes for first time home buyers. That would benefit you as well. There is no such thing as being too informed. The more information you have, the better decision you can make.

Good luck with the process of buying your first home. :)

There are Cal-Vet loans for a first time buyer who was in the military. Thats the only program I know of by the state.

There are special grants for teachers who buy homes.

0 down loans do not exist accept for the V.A (Veteran Administration) borrower who can borrower up to 100% of the appraised value.

If you can't put 20% down, YOU CAN'T AFFORD TO BUY A HOME. Didn't you learn anything from the RECENT housing collapse???????

Best wishes and good luck.