Down Payment Assistance For Low Income Families

Real Estate

Closing Assistance for Low-Income Families

You can purchase a Three Bedroom home for $164,900 for only $1,000 out of pocket, quite literally.  Buying a home with little money down is not as daunting as it appears to be.  Today we have quite a few programs that can help low-income families buy a home.

In this post, I will walk you through the specifics of potential down payment assistance (DPA) opportunity for a new home. I’m so glad to have recently experienced this so I can share.

Typically the FHA loan is the avenue to purchase a home for many first-time home buyers. 

buying a home buying a house how to buy a house buying a home

Text the keyword JERMAINE to 35620 for a personalized home finding app to get exclusive deals automatically sent to your mobile phone.

FHA loan requires that you place a down payment of 3.5% of the purchase price of a home.

So, for a $164,900 home, you can expect to pay $5,771.15 as a down payment. 

The bond program offers up to $7,500 as a down payment.  I’ve seen it cover 2.89% of the sales prices, so in our case, it was $4,771.5. Leaving the buyer to potentially pay a flat $1,000 down payment.

Now that’s just the down payment. There are closing costs associated with purchasing a home, which was around $6,596. That’s typically 3-4% of the purchase price of a home.  Due to our partnership, we can get the closing costs covered for you, depending on the home or builder you choose.

So, that’s the actual process of how we can get you into a beautiful 3 bedroom home for only $1,000.

Now this person can be paying in total combing mortgages, taxes, insurance for under $1,100 a month vs their $1,400 monthly rent.

Program features
$7,500 in down payment assistance at 0% interest

Homebuyer requirements

·         Must be a first-time homebuyer or have not owned a home in the previous three years

·         Minimum credit score of 620

"Text the Keyword JERMAINE to 35620 for listings and mobile access to the market and marketing tips for your home"

how to buy a house buying a house how to buy a home buying a home how do i buy a house i need help b

Click Here For A Free Copy of "Buying A House Made Simple" 

 

 

CLICK HERE TO SEE GREAT DEALS ON HOMES FOR SALE

CLICK HERE TO SEE THE VALUE OF YOUR HOME

Home Buying Guide

 

Like us on 

Facebook.com

Like us on Instagram

 

Call Me (941) 677-8255 jhendricksrealty@gmail.com Find A Home or See What Your House Is Worth ---->Professional Assistance

24031 S Tamiami Trl Ste 101
Bonita Springs, FL 34134

 Why you should trust having a realtorwhen buying a new homefrom a builder homes for sale in bointa s