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Buyers Get The Help They Need!!!!

Seems everyone is talking Real Estate nowadays with the prices of homes falling and the large numbers of bank owned properties (REO) on the market but all is not gloom and doom as some are making it out to be as many people want to take advantage of the lower prices and favorable interest rates but they lack the money for a down payment or closing costs. There is help available to those who qualify in the form of down payments and money for closing costs and the buyer does not pay it back!!! It's a GIFT!!!

Down payment assistance programs help homebuyers with a gift of 3% of the sales price towards the down payment and in some cases another 3% towards the closing costs which results minimal out of pocket expenses. These programs go by different names such as Nehemiah, Genesis and Ameridream but they all work pretty much the same and I had a client who just closed escrow on their new home in Murrieta,Ca. using the Nehemiah program on a REO property and it went very smooth. This couple thought they would have to wait years until they saved enough to buy a home but they are now living their dream.

So all of the Real Estate news is not bad as some would make it out to be as there are some great things happening in the housing market.

For more information check out the following links.

www.thegenesisprogram.org

www.ameridream.org

www.getdownpayment.com

Posted by Cameron Wilson: Murrieta/Temecula/ Menifee California Real Estate on 04/30/2008 08:30 PM

Comments (10)

bank owned, reo, murrieta, ca, real estate, down payment assistance, homebuyers, nehemiah program

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10 Comments on Buyers Get The Help They Need!!!!

We used to do a lot of these programs but so far we don't seem to be doing many anymore.

04/30/2008 08:32 PM

by Barbara S. Duncan ABR, CRS, GRI, e-PRO Searcy AR (RE/MAX Advantage)

BARBARA, I think a lot people don't know these programs exist.

04/30/2008 08:46 PM

by Cameron Wilson: Murrieta/Temecula/ Menifee California Real Estate (Century 21 Tri Valley Realty)

Cameron, thanks for the tip. We have a client who could use down payment assistance. You used to have Chaffa loans, but I don't think they exist anymore. I will look these up and pass on the information.

BTW, I love your attitude.

04/30/2008 09:26 PM

by Peter Wolf (Coldwell Banker)

PETER, The seller has to contribute the costs but most will in this market.

Check out www.getdownpayment.com

04/30/2008 09:32 PM

by Cameron Wilson: Murrieta/Temecula/ Menifee California Real Estate (Century 21 Tri Valley Realty)

I am working on a purchase using down payment assistance. The buyer was surprised he could get $3k! The programs are there. We need to shout it out!!!

04/30/2008 09:34 PM

by Melody Botting RE/MAX Empire Realty

MELODY, I have yet to hear the media say anything good about the Real Estate market such as this program for people to buy a home.

04/30/2008 09:38 PM

by Cameron Wilson: Murrieta/Temecula/ Menifee California Real Estate (Century 21 Tri Valley Realty)

Humm... How do we get positive press?

04/30/2008 09:50 PM

by Melody Botting RE/MAX Empire Realty

Thats a tough one because they don't print the good things much.

05/01/2008 10:06 AM

by Cameron Wilson: Murrieta/Temecula/ Menifee California Real Estate (Century 21 Tri Valley Realty)

I recently attended a meeting with the Nehemiah Area Manger for Georgia. The program is not for everyone, but one of my seller's has agreed to participate in the program. I think this is a great way to help buyers with good credit who are unable to save enough money for down payment, and or closing costs, and to help the seller . I recently updated my web site www.dallaschambers.com to include information about the Nehemiah program. Looks like a win/win way to go to me.

05/01/2008 07:51 PM

by Dallas Chambers (Re/Max Agents Realty)

DALLAS, It does turn into a Win Win deal for both sides. Thanks for stopping by.

05/01/2008 08:06 PM

by Cameron Wilson: Murrieta/Temecula/ Menifee California Real Estate (Century 21 Tri Valley Realty)

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