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. But this is why companies such as New Sensation Homes exists, in the hopes of making this process a lot easier. As this is such a massive step in anyone’s live, of course you’d want to go about it the right way.
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)