Down Payment Assistance
If you are concerned about a down payment, talking with your loan officer is the best place to start. There are down payment assistance programs available as well as loan programs whereas little is 3% down is needed to purchase a home.
Loan Highlights and benefits
Down payment assistance can provide significant benefits to homebuyers by making homeownership more accessible, affordable, and sustainable.
- Helps overcome financial barriers: Down payment assistance can help homebuyers overcome financial barriers to homeownership. By providing funds for the down payment and closing costs, down payment assistance can make it easier for buyers to purchase a home, especially if they have limited savings.
- Increases affordability: Down payment assistance can increase the affordability of homeownership by reducing the amount of money required upfront. This can make homeownership more accessible to first-time homebuyers, low-income households, and other buyers who may not have the resources to cover the entire down payment and closing costs.
- Builds wealth: Homeownership can be a pathway to building wealth and financial stability. By providing down payment assistance, organizations and agencies can help more people become homeowners, which can improve their financial standing over the long term.