First time homeowners in Fresno get help

FRESNO, Calif.

The seminar educated people on the first steps towards homeownership.

26-year-old Samuel Reyes wants to move out of this 2-bedroom apartment in downtown Fresno and be the first in his family to own a home. "Something I can afford. Somewhere we can live comfortably," he said.

Saturday morning Reyes was walking through Manchester Center with his family when he stumbled upon a first-time homebuyer seminar called 'Project Homeowner.' "It's very scary it is. I'm very afraid. Thinking there are some programs out there that do want to help you and some people that don't want to help you."

More than 30 lenders, realtors and state and federal agencies were on hand to explain the programs available for buyers.

Home sales were down 20% for the month of September in Fresno County according to DataQuick, a group that tracks market trends in California and other states.

Expo organizers want people to know homes are available.

"It's a buyer's market. Prices are low. Interest is low, the lowest it's been in 30years," event organizer and realtor Olivia Hastings said.

Last year 'Project Homeowner' focused on avoiding foreclosures.

This year the focus is about preventative resources that help the buyer manage a mortgage rate and receive financial assistance if they qualify.

Molly Ellis with the California Housing Finance Agency said: "We're able to comfort them knowing they're getting into a sustainable loan. It's not like that freaky stuff that was out there before. It is a 30 year fixed rate mortgage."

Reyes was pre-approved to receive a loan. He said after more research he plans to move soon.

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