Hello, everyone! Welcome to my video real estate blog. I get
asked all the time about what’s happening in the market, so I wanted a way to
share relevant information with you.
Today, I want to talk about down payment assistance. Often,
first time homebuyers have a difficult time purchasing a home for various
reasons: too much competition, not enough inventory or they can’t make a large
enough down payment.
Down payment assistance helps those having a difficult time
buying a home. It offers almost all financing. It’s available at different
levels and it’s encouraged and sanctioned by the government.
One of the most common down payment assistance programs allows
you to make as little as a 3 percent down payment; sometimes incentives are
offered where even less is required. To qualify for this, you must have the
income and credit eligibility.
Another program that offers help to first time homebuyers is
the Homeownership Opportunities Program (HOP).
HOP helps first time homebuyers at or below 80% of the area median
income; this includes help with down payment and closing costs.
There are a number of different ways for first time
homebuyers or those who haven’t owned a home in three or more years to get the
home they want! If you have more questions about these programs and how to
qualify, please give me a call. I’d be more than happy to help!
