Oh...but it's cold outside! Of course it is...Old man Winter is still ferverently blowing his chilling winds. However, there's one thing that we know for sure...
SPRING IS COMING!!!!
Now....whether it arrives, next week, next month, or in the middle of June is completely up to Mother Nature and the Region of the Country in which you live. However, as for me and my lovely peach people in Georgia, we're looking forward to some nice Spring whether within the next 4-6 weeks....and what works well with beautiful Spring-like temperatures????? You guessed it....BUYING A NEW HOME!!!
It's the time of the year when people who have been considering purchasing a home actually begins the process. The unfortunate part is that many first time home-buyers normally fail to get any further than the "wishing" process because of limited finances for a down payment, closing costs, moving expenses, deposits, etc.
Let's face it, purchasing a new home can place a strain on your savings and your wallet. The good news is that, in the State of Georgia, there are STILL some down payment assistance programs available for first time homebuyers to assist with down payment and/or closing costs!!!!
The Georgia Dream Homeownership Program is a state funded down payment assistance program that grants up to $5000 to be used for down payment assistance and a portion of your closing costs. If one or more of the purchasers work in the field of health care, education, public protection, or military; the grant amount increases to $7500. If there's a person with a disability that will be living in the home, then the grant amount increases to $7500 as well. There are program and income restrictions involved, so contacing a lender who is familiar with processing this loan produce is strongly recommended.
HUD's $100 Down Program is a federally funded program that works with the FHA loan product. In essence, a first time homebuyer can purchase a HUD-owned property for as little as $100 down payment when purchasing with an FHA loan. Often times, HUD will also pay up to 3% of the purchaser's closing costs as well!
USDA Rural Development Loan Program is another federally funded loan program that provides 100% financing to properties located in eligible qualified rural areas. The key to this program is to be certain that the property that you choose is actually located in an eligible area. The eligibility map provides an excellent resource to check whether or not a particular address is eligible for 100% financing under this program.
So, instead of standing on the sidelines watching all of the home buying activity pass you by...
JUMP IN....and join the fun of becoming a new homeowner!!!