TWO RESOURCES THAT CAN HELP YOU BUY A HOME RIGHT NOW
A recent report indicates that 20% of Americans do not think homeownership is achievable now.
Maybe you feel (or maybe one of your children feel) the same way.
With inflation driving up day-to-day expenses, saving enough to buy your first home may be more of a challenge. But, with the right resources and help, you can still make it happen.
There are options that can help make buying a home possible today — even if your savings are limited or your credit isn’t perfect. Let’s explore just two of the solutions that could help get you into your first home no matter the market.
1. FHA Loans
If your down payment savings and your credit score aren’t where you want them to be, an FHA loan could be your pathway to buying a home. According to the U.S. Department of Housing and Urban Development (HUD) and Bankrate, the big perks of an FHA home loan are:
· Lower Down Payments: They typically require a smaller down payment than conventional loans, sometimes as low as 3.5% of the home’s purchase price.
· Lower Credit Scores:
They’re designed to help buyers with credit scores that might not qualify for conventional financing. This means, when conventional loans aren’t an option, you may still be able to get an FHA loan.
The first step is to connect with a lender who can help you explore your options and determine if you qualify.
2. Homeownership Assistance Programs
And if you need a more budget-friendly down payment, that’s not your only option. Did you know there are over two thousand homeownership assistance programs available, according to Down Payment Resource, and more than 75% of these programs are designed to help buyers with their down payment. Here’s a bit more information about why these could be such powerful tools for you:
· Financial Support: The average benefit for buyers who qualify for down payment assistance is $17,000. And that’s not a small number.
· Stackable Benefits: To make it even better, in some cases, you may be able to qualify for multiple programs at once, giving your down payment an even bigger boost.
Here’s a little-known fact:
Some of these programs can be layered. So, in other words, you may not be limited to just one program.
If you want to learn more, or see what you qualify for, be sure to lean on the pros. As a trusted real estate agent, together with a seasoned lender, I can guide you through the process, explain the help that’s available to you, and connect you with resources to make buying a home a reality. Call me for more information. I would love to help.
By incorporating my personal attention and guidance into the marketing strategy I aim to provide you with
an Exceptional Selling Experience and detailed negotiations
while ensuring that your property receives the exposure needed and terms of the contract met
to attract buyers from anywhere
LIVE. LIFE. LOVE. LOCAL.
Your Local Real Estate Connection
Get a positive, helpful partner for buying or selling your home:
Trusted resource for answers about the process
Innovative marketing strategies
Expertise about neighborhood features
Ability to target home searches
Strong negotiation skills
Support through the closing and beyond
Why would you settle for anything less?
Adding value for my clients and loving where we live!
Judy@JudithSutton.com
COLDWELL BANKER...GUIDING PEOPLE HOME SINCE 1906
908 803-0472
"...the right relationship means everything..."
SERVING THE SOMERSET HILLS AREA ONE CLIENT AT A TIME
Service & Experience
since 1983