Can Down Payment Assistance Programs Help You?
March 4, 2022
The average homebuyer or potential homebuyer will tell you that the thought of the down payment or saving for a downpayment is the most daunting part of becoming a homeowner. Especially in today’s time or market where prices of everything are inflated and households budgets are already being stretched. Being able to save up that large of a lump sum is one of the hardest parts of the homebuying process according to recent polls. If this sounds like you and you are wanting to buy a home but are not sure how to come up with the full down payment, let me share this information about assistance programs with you.
Not just FIRST time buyers but also some repeat buyers are eligible for them. The common myth is that you can only get assistance from lenders on your first home purchase but the truth of it is that oftentimes these banks and lenders will even offer some assistance to repeat buyers. In fact, according to Downpaymentresource.com
“You don’t have to be a first-time buyer. Over 38% of all programs are for repeat homebuyers who have owned a home in the last 3 years.” So basically this means that no matter where you are in your homeownership journey at least one of these assistance programs would apply to you.
There are even often local programs for specialized or public servants. What does this mean, you ask? There are many areas that offer assistance programs for the people who serve our communities. One great program is called “Teacher Next Door.” While this may sound like it would only apply to teachers, don't let the name fool you. This program is just one program that seeks to help teachers, first responders, health providers, government employees, active-duty military personnel, and veterans reach their down payment goals.
Here is the bottom line and the GREAT news my friends, if home ownership is on your list of goals this year, I can help you with that. Contact me today let me get you started with a lending professional and start your search. Together we can help you achieve that goal. I want to be YOUR realtor!