Buying a home can be overwhelming and expensive! That’s why you need experts on your side like Mary Shuck and Shannon Jones to help you through the process. In our live webinar on August 4th, they discussed down payment assistance programs for first-time buyers. Watch the webinar below and keep scrolling for highlights and the links Mary mentions!
Highlights from our Down Payment Assistance Webinar
- There are a number of down payment assistance programs and your location, loan amount, credit score, and income will determine what you qualify for. The best thing to do is connect with a lender who is well-versed in available programs so they help you determine what program will be the best fit.
- Less than half of Mary’s clients have 20% down or more.
- Did you know if your loan amount is $510,400 or less, you can put as little as 3% down?
- If your loan amount is $765,000 or less, you can put as little as 5%
- If you qualify for an FHA loan (a type of down payment assistance program) you only need to put 3.5% down.
- Don’t forget that the down payment isn’t the only payment you need to consider. You also need to account for closing costs and having a reserve of money once the buying process is over.
- It is so important for buyers to educate themselves on what is required. Even with the right experts on your team, it’s still important that you understand the process. You don’t want to sign anything you don’t understand.
- Curious about which loan programs you qualify for? Call a lender – like Mary – and they can help you find out. If you need help getting in touch with a trusted mortgage broker please reach out to us.
Here are the links that Mary mentioned in the webinar. For Mary’s direct contact information please click here.
Ready to Buy a Home?
While down payment assistance programs are an important part of the process, there’s much more to buying a home! Check out these other helpful topics we’ve covered.
- “Corona Clauses” And Addendum
- How to Win a Bidding War in 2020
- How to Buy a Home Virtually
- The Future of California Home Prices
- Guide to Buying a Home
When you’re ready to buy a home we’ll be here for you. Please fill out the form below to get started or give us a call at 562.896.2456.