Homebuyers Can Still Find Down Payment Assistance

Homebuyers Can Still Find Down Payment Assistance

Homebuyers can still find down payment assistance


 
TALLAHASSEE, Fla. – April 25, 2014 – Homebuyers still have access to down payment assistance grants, interest-free second mortgages and other special home loan programs, provided they have decent credit and documented income.However, many borrowers don't realize that home buying aid isn't reserved for just low-income individuals, and money available through state and local housing agencies often goes unused.Some down payment assistance programs "are for working people who make a decent income but don't have enough to save for a down payment," says loan specialist Deborah Holloway of Melbourne, Fla.-based Shelter Mortgage Co.Some buyers qualify for down payment assistance even though they earn upwards of 120 percent to 140 percent of the median area income. Buyers should check the websites of the housing authority in their state for a list of programs and participating lenders.Meanwhile, some lenders – like TD Bank Group – have created their own loan initiatives for first-time buyers with low down payments, and buyers also have access to Fannie Mae's HomePath program, which requires only 5 percent down.A first step for Floridians checking to see if help is out there: The Florida Housing Finance Corporation. It's the state window for funneling money from federal and state programs into the hands of prospective homeowners.Source: Bankrate.com (04/22/14) da Costa, Polyana


Kathy Toonder Headshot
Author:
Phone: 941-544-7270
Dated: April 25th 2014
Views: 7,008
About Kathy: I enjoy walking the warm sandy beaches, swimming and watching the magnificent sunsets on Florida’s...

Property Search









RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Buying A New Construction Why You Need Your Own Real Estate Agent - When buying new construction,
When Is The Best Time To Buy In The Florida Market - The US housing market 
Home Sales Ease Competition For Buyers - New Numbers from the National
2019 Relocate To Sarasota - I enjoy walking the warm sandy

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

The Exit Realty Group
8728 E. State Road 70
Bradenton, FL
941-584-5821
941-755-6021

Other Locations