For first-time buyers, often the first thought that comes to mind is, "I need a down payment." This is often followed by the question, "Now, where do I get that down payment?"
Depending upon the loan type, a home mortgage typically requires 3 to 5 percent down. If you have the money, then you're set. But what if you don't? What if you're renting? You can afford a mortgage within your means, but coming up with the down payment money needed to begin the transaction can be challenging. So, where can you turn?
One of the most overlooked sources of down payment funds is likely right under your nose-in the form of government bonds and local grant programs.
These programs either provide outright monetary grants for down payment or money to buyers in the form of a forgivable loan. In essence, the government will help you buy your home and you typically only have to pay back the money if and when you sell that same property.
In the past it was challenging to find these special programs, but now all you need is your agent, a computer, an Internet connection, and a search portal such as Google or Yahoo. Enter the search terms "down payment assistance (followed by your city, state or province)" and see what pops up! It might just be the answer to helping you buy your first home.
Click here for a list of homes in your area.
Kalamazoo, mi condos for sale, portage, mi condos for sale, plainwell, mi condos for sale, vicksburg, mi condos for sale. portage, mi bank owned. kalamazoo, mi bank owned, portage, mi reo, portage, mi foreclosures for sale, portage, mi hud homes for sale, kalamazoo, mi bank owned, kalamzoo, mi reo homes for sale, kalamazoo, mi hud homes for sale, kalamazoo, mi foreclosures for sale. vicksburg, mi bank owned, vicksburg, mi reo homes for sale, vicksburg, mi foreclosures for sale. plainwell, hud homes for sale, plainwell, mi foreclosures for sale, plainwell, mi bank owned homes for sale, martin, mi bank owned homes for sale, martin, mi reo homes for sale, martin, mi foreclosures for sale. portage, mi lake homes for sale, portage, mi lake cottages for sale, kalamazoo, mi lake homes for sale, kalamazoo, mi lake cottages for sale. vicksburg, mi lake homes for sale. plainwell, mi lake homes for sale, pine lake, mi lake homes for sale, gun lake, mi lake homes for sale. gull lake, mi lake homes for sale, austin lake, mi lake homes for sale, south west michigan lake homes for sale. long lake, mi lake homes for sale, kalamazoo, mi farm land for sale. portage, mi farm land for sale. portage, mi real estate. portage, mi homes for sale. kalamazoo, mi homes for sale. eagle lake, mi homes for sale, Kalamazoo, MI Realtor. Portage, MI Realtor, Kalamazoo, MI Real Estate, Portage, MI real estate. Allen Edwin Homes, Kalamazoo. New Construction Homes, Portage, Allen Edwin Homes Portage, Allen Edwin Homes, Vicksburg. Gilmore Farms, Richland.
Comments(0)