Down Payment Assistance
Many local and state agencies run bond programs to generate funds to help individuals and
families with a down payment. Contrary to public thinking, these bond issues are not a
type of welfare. The government knows that it can be toughto buy that first home,
especially on a limited income.
Most agencies are income sensitive, but you may be surprised by the high level of
acceptable income. The income level is especially high if you have children or dependents.
Most agencies also have purchase limits, but they are adjusted to
the income qualifications level
If you are able to obtain down payment assistance, you may receive a lower interest rate.
The drawback is that it often takes quite a bit of work with extra paperwork and mandatory
education classes. Our advice, find a realtor or
mortgage professional who is familiar with both the local and state agencies and their
policies. |
Down Payment
Low Down Payments
Down Payment Loans and Gifts
Qualifying For Low Down Payments
Down Payment Assistance
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