Buying a Home with a Down Payment Assistance

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With Jessica Frazier

Being a first-time homebuyer has never been easy, especially when it comes to putting money for a down payment. But with the down payment assistance programs currently in every region of the country, being a first-time homebuyer doesn’t have to be stressful anymore. Utilizing down payment assistance always comes with massive benefits to the home buyer, from saving time to money.

In a recent The Power Is Now Homebuyer Town Hall, West Coast edition, we had the privilege to host an extraordinary guest and a first-time homebuyer, who also utilized a down payment assistance program from the Golden State Finance Authority (GSFA), Jessica Frazier. In attendance at the show were VIP Agents Jenny Gonzalez from Corona, CA, Yvonne McFadden from Scottsdale, AZ, and Carolyn Sunseri, the marketing director GSFA. The show is live on The Power Is Now Facebook page every 1st and 3rd Tuesday of the month at 7.00 PM.

About Jessica Frazier.

Jessica Frazier, who happens to be my firstborn daughter, is a real estate professional with 15 years of experience. She also has a master’s degree in business, specializing in finance. Jessica teaches real estate at the extension course at UCLA. She also works in real estate with the housing authority in Los Angeles.

Jessica is currently buying a home in Whittier, California, where she has already qualified to get down payment assistance from GSFA.

Why now and not later?

Like other young people nationwide, Jessica is going through the process of building her career, saving money, paying school debt, and all that. However, she still chose to live the American dream of homeownership now. This leads to the question, why not and not later?

According to Jessica, the current historically low-interest rates played the key determiner in choosing to buy a home now.

“When you think about your purchasing power and what you have the ability to do, this just seemed like the best opportunity,” she says. “This market, although it’s crazy, gave me the best opportunity to purchase something that I can afford at a low-interest rate.”

The process.

The process of buying a home has never been easy. It’s sometimes tedious and time-consuming; from getting preapproved to hunting for a home that fits your needs. At some point, some people may consider giving up. For Jessica’s case, the process took about 11 months. “It’s definitely been a little bit of a roller coaster, but it’s been worth it,” Jessica states. “I actually give up twice this year because, one, there are so many people trying to purchase properties right now.”

“I felt that I wasn’t as competitive as some of the other buyers out there in the market,” she adds.

Initially, Jessica was looking to buy a home in Los Angeles for its proximity to her workplace. But instead, she ended up buying a home in Whittier, which also turned out to be advantageous. According to Jessica, homes in Whittier are far less costly compared to L.A.

“The amenities I got in Whittier far exceed what I’d be able to afford in Los Angeles properties,” she states.

Jessica’s new home, which is a resale property, is a three-bedroom, two-bath, 1645 square-foot townhouse with direct access garages, a patio, and a common area with a pool with a sales price of $499,000. Jessica got an FHA loan with a 4% down payment, which she got from the GSFA program.

However, note that you have the freedom to choose from 5% going down when you qualify to get down payment assistance. Most people choose to get the maximum amount in many cases, but Jessica chose below the maximum.

“The interest rate was the main driver.  I wanted to get a lower interest rate, and so I felt I could make up the difference in cash to be able to put down,” she argues. “It made more sense for me, and I think it will help me in the long term.”

Conclusively, Jessica has something for those who are still weighing options whether to buy a home now or do it later.

“Get off the fence. I’ve been contemplating a purchase probably for at least five or six years,” she advises. “Don’t wait. There’s no real reason to wait right now. I think where the market is right now is a great opportunity for young people to jump into the market and make the transition from being a renter, where you’re paying someone else’s mortgage, to helping build your equity and long-term asset to help you build wealth.”

You can watch the whole show on our YouTube channel here.

You’ve heard it from the horse’s mouth; the time to buy a home is now. Don’t let this lifetime opportunity leave you behind.

About The Power Is Now Media

The Power Is Now continues to keep you updated with the latest news in the real estate market as we strive for advocacy of homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. In this regard, we have a team of professional realtors— VIP Agents stationed nationwide to help you with anything you need in attaining your homeownership dreams. You can get in touch with the VIP Agents at If you can’t find an agent from your area, you can contact me directly for a referral. Also, ensure you stay updated with any developing real estate market news by regularly checking our blog page at You can also set up an appointment to speak directly to me at

Disclaimer: The views and opinions of Eric Lawrence Frazier are his own and do not necessarily represent First Bank or any organization affiliated with Eric Lawrence Frazier, or the Power Is Now Media Inc. First Bank is an Equal Credit Opportunity Lender. Eric Lawrence Frazier, MBA, is also a Vice President and Mortgage Advisor with First Bank. NMLS#461807 and a California Licensed Real Estate Broker DRE# 01143482. Email: Ph: 714- 475-8629.

Eric Lawrence Frazier MBA

President and CEO

The Power Is Now Media Inc.

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