FAQS-Purchasing a New Home with Down Payment Assistance, Closing Cost Assistance, Mortgage Credit Certificates, and other Special Programs in Katy, Cypress, Spring, Dickinson, Rosenberg, Houston, TX). PART 2
Part 2: The Politics of Special Programs - Are Down Payment Assistance Programs and other Special Programs a good thing or a bad thing?
Is there any downside to the down payment assistance and other special programs? Not really.
In some cases, there may be a payback or a partial payback, depending on the program. Ask your trusted expert. But, in general, the programs are designed to help people become homeowners and begin building their equity. Some programs have NO payback; Some have a POSSIBLE payback – but only under certain conditions. Others have a definite but a delayed payback.
Why do some people try to steer you away from the down payment assistance and other special programs –
and WHAT their motive may be.
- TIME, DEDICATION....Down payment assistance programs and the mortgage credit certificate programs are much more paperwork intensive, and more time intensive. Your file on a special program will take them more time, and requires those who help you to be trained on and familiar with the down payment assistance programs and the other special programs. More time, more work, more education on their part.
- AUTHORIZATION....Not everyone is authorized to help you do the special programs. Often, the place authorized to utilize the programs has to qualify in some way to do the special programs. They have to “participate” according to the rules, etc. Sometimes, they have not done what needs to be done, as a company, to be able to qualify their purchasers. Therefore they cannot do the down payment assistance and other first time homebuyer special programs!
- KNOWLEDGE.....Some people do not know how to do the special programs. So, they may not tell you they can’t do the program -they will just try to redirect you away from what you want to what THEY want.) Tsk, tsk.
- MONETARY COMPENSATION....Often, the person’s pay is cut back if they help you. This is not necessarily the case, but is probably the case. They may tell you they “can’t” when the real answer is they don’t WANT to. More benefit for you means less pay for them.
- DELAY...Sometimes,using a special program means that the process MIGHT take a little longer, and so it MIGHT take more days to close. Those waiting for their paycheck may not want to have that paycheck delayed.
If you live in and around the Houston, Tx area (Katy, Cypress, Spring, Houston), call me today to find out more about how these special programs can help you get in the house of your dreams.. It is easier than you think. GreenSTART Home Club helps purchasers of GreenECO Builders new homes do it all the time.
And we love it!
Comments(0)