According to most first time home buyers. Saving money for the down payment on a home is often cited as the most difficult obstacle in the home buying process to overcome. Buying a home for anyone is a big commitment. This is not something that you can just jump into, as there is much more to buying a house than you may think. From a house value estimate, getting approved for a mortgage, to finding a real estate agent and making an offer, there is a lot of research to be done before signing on the dotted lines.
Up to $7,500* in matching grant funds for Raleigh North Carolina first time home buyers!
First-time home buyers can often use a little assistance in securing financing for their first home. That’s why I can offer the Federal Home Loan Bank program, which provides funds that can help eligible individuals become new homeowners. Here are some of the pertinent details
- Up to $7,500* for down payment and/or closing cost assistance
- Requires a borrower contribution of at least $1,000 from his/her own funds
- 4 to 1 match, based on the amount of borrower’s contribution:
- Contribute $1,000 and receive $4,000* in funds (minimum) Contribute $1,875 and receive $7,500* in funds (maximum)
- Seller can pay closing costs, as allowed by loan program
- Homeowner Education Certificate required
- Can be combined with other grant funds
- Income limits apply, based on household size and location
- Buyers Receive up to 3.5% Toward Closing Costs from Fannie Mae! (theraleighmortgageguy.com)
- Home Sales Drop %15.1 in Raleigh North Carolina (theraleighmortgageguy.com)
- Raleigh Real Estate – it’s NOT a buyers market (theraleighmortgageguy.com)
- HELP FOR HOMEOWNERS – HARP extended thru 2012 (theraleighmortgageguy.com)