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Nature of down payment assistance is ever changing

July 19, 2015

The question becomes - in today's world - where can I find down payment assistance?

Just a few years ago, it seemed there were limitless options for first time homebuyers to get free money. If one goes back to most of those sources, you'll find most of those are no longer available. Community programs have shifted. Many communities are now using the same dollars to fix up and sell property in disrepair, and then only offering grants for the properties they are selling themselves.

While you'll still find many grant programs available, they are fragmented. Some banks now offer their own assistance. New bond programs have been developed, and the State finance agencies have become more important due to the lack of community programs. This is why it's ever so important to align your self with a local expert who knows the local programs in your area.

If you are a lender or Realtor, this is also why we need you to join us as a volunteer! Rest assured, however, those who need assistance can email us at info@downpaymentgrants.net and we will find a local expert for you, or help you from our central office if there are none available!

Do you qualify for down payment assistance?

December 14, 2013

So, you're thinking about buying a home...

Paying rent month after month is getting old, and you realize you have nothing to show for those large monthly payments. The problem is that it's so hard to save enough for the down payment and closing costs...where do I start?

It could be that you qualify for down payment assistance. This "assistance" could come in the form of a no interest loan, an interest bearing loan, a forgivable loan, or even a grant or gift.

If you haven't been pre-approved for a loan yet, that will be one of the first things you're going to want to do.

Now, WAIT! Don't go calling a lender just yet...you don't want just any lender. You are going to want to find a lender who works with First Time Homebuyers regularly. You are going to want a lender who knows how to find low down payment programs - maybe even a first time homebuyer grant. While not everyone will qualify for a down payment assistance program, some could get up to $15,000 or more!

There is a real shortage of down payment assistance funds available today compared with just a few short years ago. Some programs have limited funds available. There are many low down payment loan options available, some of which allow the entire down payment to be a gift from a family member. Working with one of our expert lenders will help you find the best options for your circumstances.

 

Nature of down payment assistance is ever changing

July 19, 2015

The question becomes - in today's world - where can I find down payment assistance?

Just a few years ago, it seemed there were limitless options for first time homebuyers to get free money. If one goes back to most of those sources, you'll find most of those are no longer available. Community programs have shifted. Many communities are now using the same dollars to fix up and sell property in disrepair, and then only offering grants for the properties they are selling themselves.

While you'll still find many grant programs available, they are fragmented. Some banks now offer their own assistance. New bond programs have been developed, and the State finance agencies have become more important due to the lack of community programs. This is why it's ever so important to align your self with a local expert who knows the local programs in your area.

If you are a lender or Realtor, this is also why we need you to join us as a volunteer! Rest assured, however, those who need assistance can email us at info@downpaymentgrants.net and we will find a local expert for you, or help you from our central office if there are none available!

Do you qualify for down payment assistance?

December 14, 2013

So, you're thinking about buying a home...

Paying rent month after month is getting old, and you realize you have nothing to show for those large monthly payments. The problem is that it's so hard to save enough for the down payment and closing costs...where do I start?

It could be that you qualify for down payment assistance. This "assistance" could come in the form of a no interest loan, an interest bearing loan, a forgivable loan, or even a grant or gift.

If you haven't been pre-approved for a loan yet, that will be one of the first things you're going to want to do.

Now, WAIT! Don't go calling a lender just yet...you don't want just any lender. You are going to want to find a lender who works with First Time Homebuyers regularly. You are going to want a lender who knows how to find low down payment programs - maybe even a first time homebuyer grant. While not everyone will qualify for a down payment assistance program, some could get up to $15,000 or more!

There is a real shortage of down payment assistance funds available today compared with just a few short years ago. Some programs have limited funds available. There are many low down payment loan options available, some of which allow the entire down payment to be a gift from a family member. Working with one of our expert lenders will help you find the best options for your circumstances.