OK fellow Realtors, I thought we might be able to pool our massive brain power together and come up with some great ideas for DownPayment Money for the Renters out there who are left that want to become Homebuyers!
In my market (Wichita, KS) I can still find people who want to buy, who can qualify for an FHA loan but who just don't have any money for a downpayment. 3% is all we need for that FHA loan! Does that sound familiar to anyone else? If so, why not play a game with me! I would like to see how many ideas we can come up with for Average Joe out there to find money for a downpayment..... They can be serious, silly or near impossible but what the heck-what other job is there where blogging is considered "work"?
I'll get things started with the following:
- Borrow against your car/boat/jet skis
- Take downpayment money out of your 401k that is tanking anyway and invest it in your home! A proven investment over time-especially in the Midwest!
- Sell your ex-husbands crap that you insisted on keeping in the divorce