Down Payment Assistance is Working 3.3.2013
By: Mari Takeshita – Cherry Creek Properties & Sharon Campbell – Guild Mortgage
YOU DON’T NEED 10 %-20% DOWN PAYMENT TO BUY A HOME!
DOWN PAYMENT ASSISTANCE PROGRAMS
1. You can afford your portion of the money necessary to own your own home!
2. In many states, you do not need to be a first time buyer.
3. Some programs allow for higher than median incomes.
4. There are assistance programs that allow you to have owned a home the day before and use their program today.
YOU CAN OWN YOUR OWN HOME!
1. Qualify for a FHA government insured loan.
2. Have a fixed interest rate for 30 years.
3. Down payment assistance programs grant or loan all or a portion of the 3.5% down payment required.
WHAT DOES THAT MEAN TO YOU?
You can buy a home for very little out of pocket. In some states that means as little as $1000.oo. Equivalent to about one month rent as your outlay to the “American Dream”!
DOWN PAYMENT ASSISTANCE INTITIES
1. State agencies
4. Non- Profits
5. Speciality organizations
REMEMBER WHAT ASSUME STANDS FOR!
Makes an A– of You and Me…
So.. don’t assume!!
I continually hear people say, “I didn’t think I could qualify for a loan or be allowed to use a down payment assistance program.” Many programs allow you to have higher incomes, considerable assets, buy higher than the median price point of homes.
YOU WON’T KNOW UNLESS YOU ASK THE PROFESSIONAL THAT WORKS WITH THOSE DOWN PAYMENT PROGRAMS.
You will find that lenders are not created equal. Many aren’t structured or approved to utilize the assistance programs. So of course if you ask if those programs exist, their answer will be “No!”
This is where taking, “no” for an answer is not good advise.. If you are having a problem determine if the area you live in has a program for you, contact one of us for answers.
DON’T GIVE UP on owning your own “Home Sweet Home”
Cherry Creek Properties LLC