Down Payment Assistance Archives

couple admiring new home financed by government grants for first time home buyers

Government Grants For First Time Home Buyers: Unique Value Realized

The Top Government Grants For First Time Home Buyers Do you have your eye on top government grants for first time home buyers but are unsure of the details? Well keep reading and we will bring you up to speed. Buying a home can seem like an impossible dream these days. Real estate is more expensive than ever, and it’s hard for people to save up the 20 percent necessary for a down payment. The good news is that you don’t necessarily have to take out a huge loan to purchase a home. Depending on your situation, you might qualify for Read More…

First Time Home Buyer No Down Payment – Is It Right For You?

First Time Home Buyer No Down Payment These programs made available from both state and federal sources allow for first time home buyer no down payment assistance. Here we’ve broken down the federal DPA program along with two state-level DPAs so you can see how each works. This article describes just a few of the many available low income down payment assistance programs throughout the United States. National Homebuyers Fund The National Homebuyers Fund (NHF) founded as a public benefit corporation. Established in 2002 with the mission of creating programs to help with the financial burdens associated with buying a home. Under the NHF, qualified borrowers have the opportunity to Read More…

Down Payment Assistance First Time Buyers – Do You Qualify?

Down Payment Assistance First Time Buyers The amount of funding available for down payment assistance (DPA) is dependent on the agency, organization or lender providing funds. Grant funding for DPA can be up to 5% of the purchase price with no capped amount in some states. While other states offer funding for as much as 20% of sales price, up to a set limit. Similarly, a handful of DPAs provide funding up to a certain dollar amount, such as $10,000 or $15,000. Whatever DPA you consider using, the higher the amount the less likely those funds are a grant (no repayment). To learn more, keep reading to discover why down payment assistance first time buyers programs may be right Read More…

Zero Down Home Loans First Time Buyers – Learn The Basics

Zero Down Home Loans First Time Buyers One of the most sought after achievements by most US adults is the goal of home ownership. Reaching that goal represents a certain level of success. Owning a home represents a substantial asset that appreciates over time and has the potential to generate income. But getting the keys to your new home comes with challenges, which includes the need for a down payment. Many home buyers become discouraged when faced with closing costs, moving expenses and the responsibility of a new mortgage payment. So how does one overcome all of these hurdles to realize the dream of owning their own home. The first step is to learn more about zero Read More…

Down Payment Assistance First Time Home Buyers – Who’s Behind The Funding

Down Payment Assistance First Time Home Buyers – HFAs Housing Finance Agencies (HFAs) assist with down payment assistance first time home buyers funding needs. In addition, HFAs are state agencies that work under a board of directors chosen by each state. These agencies direct many affordable housing and community development programs. Housing Finance Agencies within each state operate under three federally approved programs: Bonds Credit HOME Investment Partnerships Housing Bonds State and local governments sell tax exempt mortgage revenue bonds. They use the funds to finance low cost mortgages for lower income home buyers. Or for the development of multi-family units at rents affordable to qualifying lower income families. Consequently, housing bonds are capped Read More…

0 Down Payment Home Loans – Down Payment Assistance Programs

0 Down Payment Home Loans Everyone desires to achieve the American dream through home ownership. Ever since the Great Recession, for those that lack the financial resources, it seems this goal is out of reach. In fact home ownership rates are at an all time low. Because of this, lenders and housing finance agencies are offering 0 down payment home loans through down payment assistance programs. Home ownership before the market crash was a four trillion dollar business, now less than two trillion in total volume. That tells us a lot about where home ownership has gone in the past several years. Sure for those with great paying jobs, excellent credit rating and money saved to Read More…