Recently I received an email requesting information on down payment assistance programs for a specific city. Down payment assistance programs for that city are not listed on myhomedownpayment.com, yet.
This article is one of six on finding down payment assistance programs in your area. If you are looking for down payment assistance programs anywhere in the country, the following information should help get you up and started.
Begin by doing your homework. Buying a home can be a confusing process.
All of the people involved in the purchase of your home, except you, are working professionals. This means you are paying them – the real estate agent, the mortgage loan officer, the processor, the appraiser, the inspector, the escrow and title companies, the closing attorney, the seller and many other people.
Because purchasing a home is not something you will do often, you may be resistant to learning as much as possible about the process. Yes, this is information you will not use everyday of your life, but this is the largest purchase most of us will ever make. An investment. The more you know the better.
The Steps:
- Choose the first mortgage program you qualify for: FHA/HUD, Conventional, VA, or Rural Development
- Choose a State Down Payment Assistance loan or grant (must be eligible)
- Choose a County Down Payment Assistance loan or grant (must be eligible)
- Choose a City or unincorporated area loan or grant (must be eligible)
If you need further assistance feel free to contact me at contact@myhomedownpayment.com.
The author, Yasmin Sabur, is the founding member of My Home Down Payment and myhomedownpayment.com, e-education businesses promoting affordable housing through mortgage down payment assistance programs for low-to-moderate income families.
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