Buying a home is a considerable investment, but that doesn’t mean it has to drain your bank account for you to make the purchase. There are numerous down payment assistance programs out there that can help you buy the home you want now without having to wait years and years to save up the money for a down payment. Nationwide, there are more than 2,444 programs available, and it is worth taking the time to research the details of these programs to determine eligibility and the steps required to secure the money you need to buy the home you require.

General Information

There are many eligibility requirements for down payment assistance programs. These include whether the program is geared towards first time home buyers, low-to-moderate income buyers, etc. Most also require that the loan you want is for a primary residence and falls within local purchase price limits which vary from region to region. You will also need to use an approved mortgage program and work with an approved lender.

There are four categories of mortgage assistance, including grants which you don’t need to repay. There are second mortgages that you pay monthly, as well as deferred second mortgages that become due when you decide to move, sell, or refinance your mortgage. Finally, there are forgivable loans that are forgiven after a set period, which is usually between 5-20 years after you purchase your home.

First-time buyer grants

Buying a home is one of the best investments you will ever make and there are many options for first-time buyers available from lenders as well as state and federal agencies. These grants can give you quite a boost, so it is well worth the time and energy you invest in researching available programs. And, with more than 1,400 programs available there are plenty of options to consider.

Time is Money

You work hard to earn the money required to buy a house, and it’s worth every penny of your time to research available down payment assistance programs. These can give you thousands of dollars right away that will make it much easier to buy the house you desire. Our team can help you navigate the programs that you qualify for and help you determine the best solutions for your needs and financial situation. When you’re ready to buy the home you desire, reach out to our professionals to start the process of securing the down payment assistance you need