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.
Ask questions. Buying a home is not the time to be embarrassed because you don’t understand something. Ask questions, and ask for an explanation in English. If your questions are not answered in a timely or understandable fashion, move on. Ask all the questions you can think of in the beginning of the process. Interview real estate professionals and mortgage professionals.
Don’t sign any loan applications, release your social security number or have credit reports ordered before receiving an answer to your questions. Once you begin the loan process you will have to pay for credit reports and appraisals, in addition to other fees. You must be comfortable with the professionals before you commit your hard earned money.
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.
52weekshome