11990 Grant St., Suite 550 Northglenn, CO 80233
5280 Magazine Five Star Mortgage Professional Award Winner every year since 2013
OFFICE LOCATION
11990 GRANT ST., SUITE 550 NORTHGLENN, CO 80233
5280 Magazine - Five Star Mortgage Professional Award Winner Since 2013
CALL US TODAY
303-668-5891
How to Buy a House If You Don’t Have a Down Payment
Net Admin • Sep 25, 2020
The home market is booming. If you are a first-time homebuyer or someone who has not owned a home for a three-year period, you may qualify for a no down payment program. Typically, these programs are available through your local county, state, or government.
Here are four types of no down payment programs that can help:
Forgivable loans: These are no-interest loans to help homebuyers with their down payment and usually last for a certain period of time. As long as the homeowner lives in the home, these loans do not have to be paid back.
Deferred loans: No-interest deferred loans provide a homebuyer with a down payment and only need to be paid back when the house is sold.
Low-interest loans: These loans must be repaid. However, they are paid over a period of time and are affordable for the homeowner to repay.
Grants: Grants are amounts of money given by your state or local government in the form of a gift and don’t need to be paid back.
There are parameters your local housing authorities will need before you are approved for these types of no down payment assistance programs. Educational courses, income, and home price thresholds are a few requirements and are taken into consideration when looking at down payment assistance applications.
Bottom line: There are many programs available to help get these assistance programs in motion. Talk with your loan officer who can help you find the best programs based on your needs and start the process to new homeownership. If you or anyone you know has questions about home loan rates or products, please reach out. We are always happy to help. Contact us and let us help you reach your dreams.
Source: Mortgage Market Guide
In today’s tech-savvy world, social media is a key aspect of how many people stay connected and find entertainment. But social media is also great for other things, including the homebuying process. Follow these tips to find your new home while you’re scrolling through your feed.Start by adding real estate agents to your feed, as …
Restrictions have been placed upon movement and travel, as well as everyday events such as shopping and education being impacted. As we move towards the fall, the threat presented by the situation has not subsided sufficiently enough for life to return to normal, with several US States seeing a spike in cases. That means, as a …
Thinking of turning your home into a long-term rental? There are several different reasons why homeowners make this decision. If your home has been on the market for a while and you’re having trouble getting offers at your asking price, renting it out may be a better option than taking a loss on your sale. …
Change is the new normal these days. How about for the housing market and mortgage rates? Will rates move another leg lower or is this the bottom? What’s next for them? There are 3 things to track as we move through summer: Spikes in coronavirus cases in several states: This is a real concern that comes …
The process of buying a new home can, at times, be frustrating and intimidating. While each step is important, several factors must be considered, or you may end up with a home that doesn’t suit your needs. Of all the factors to think about when buying a home, location is critical. When it comes to
What is the first thing someone sees when they drive up to a house for sale? In most cases, it’s what the house looks like from their vehicle. It’s known as curb appeal, the look and feel of a house when looking at it from the street or the curb. And it can tell a homebuyer a lot about a …
There is nothing like the thrill of moving into a new home. Whether you’re moving into your first home or your fifth, however, there are some important things you will want to ensure make it onto your todo list. Let’s take a look. Change Your Locks. This is one safety measure you want to take right …
We have a brief update in these days of constantly changing information in response to the uncertainty of the coronavirus and its impact on our country. The Fed has cut the Fed Funds Rate by 1.50% in the last couple of weeks, including 1.00% on Sunday, March 15th alone. Messages in the media are confusing …
When looking to buy a home, financing, down payments and mortgages need to be in the mix of what to do first. Traditionally, homebuyers have needed a 20% down payment for their home mortgage. For first-time homebuyers, young families, or those who are in a lower-income bracket, coming up with a 20% down payment is …
Have you found your dream home, in a dream neighborhood with a dream yard, but with an outdated kitchen or other rooms sorely in need of updating? Or maybe you already own a home and want to renovate it, make repairs, or add on to make room for your growing family. In either case, options …
5280 Magazine Five Star Mortgage Professional Award Winner every year since 2013
303-668-5891
