Moneys Available To Buy But Many Renters Dont Know It

Moneys Available To Buy But Many Renters Dont Know It

Millions of households are mortgage-ready but don’t try to buy because they can’t come up with a down payment. And yet, hundreds of down payment assistance programs around the country are available and go largely untapped.To be sure, many households won’t qualify for down payment assistance. They simply earn too much money. But more people than you might realize would qualify if they would only apply. Because in many markets, the allowable income level is pretty high, and we’re not just talking about high-cost markets like San Francisco, where the median home price is about $1 million.There are more than a thousand down payment assistance programs around the country. Each one is unique, with its own eligibility requirements, home-price limits, and resale restrictions. But these programs also share many features. The disconnect between the millions of households who could buy if they only had down payment money and the availability of so many programs to help them creates an opportunity for you as a real estate professional. No one is in a better position to connect households with assistance programs than you are.Program experts were Rob Chrane, CEO of Down Payment Resource in Atlanta, and Brenda Small, GRI.  


Posted in Financing & Credit, Working with Clients, by Robert Freedman on March 16, 2017  


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Phone: 561-951-3759
Dated: April 30th 2017
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