Owning a home still has its advantages, both personally and financially. Housing costs are more stable if the first-time home-buyer obtains a low mortgage rate still available at historically lows. Tax incentives such as the mortgage interest deduction not offered to renters; and Mortgage-ready borrower obtains a sustainable mortgage at an affordable rate using available down payment and closing cost assistance.
Most Down Payment Assistance Programs are provided to the mortgage-ready borrower through grants and deferred seconds funded by states and local governments through:
- The HOME Investment Partnerships Program: Administered by HUD an designed exclusively to create affordable housing for low-income households.
- Grants: Grants are funds that do not have to be paid back, but often have to be paid back if the borrower sells his or home within a certain period of time.
- Deferred Seconds: Many down payment assistance programs come in the form of a second mortgage that has a low interest rate and/or deferred payments.
There’s nothing quite like the thrill of buying a home… and knowing that you got the best possible home loan makes the deal even sweeter. Now is the time to make your move!
Give me a call today at 714.963.7462; 714-4932657
Let’s find your dream home!