Down Payment Assistance on your next house
I wanted to share some new loan information that we have recently talked about in our company meetings. For those who have been waiting for the right time to buy a house, I encourage you to act quickly as the current loan market is changing quickly.
For the past 2 years, Realtors have been using a Down Payment assistance program to get people into homes for very little cash out of pocket. The way we write the contracts allows sellers to contribute to the buyers down payment allowing us to get buyer's into homes for typically $1000 or less.
As of October 1st, 2008, these programs will not be available any longer. If you have been thinking about buying a home, but need assistance with your down payment, you must be closed on your new home before this date.
Buyers who miss this date will be required to come up with 3.5% to purchase a home.
Don't miss the boat on this one. Let me know if you're ready to talk about buying NOW.
As always, I hope that you find this information helpful in making decisions about your real estate needs.
Talk with you soon,
C-D. Young Realtor