Down Payment Assistance Programs for Raleigh Area HomeBuyers
Buying your first home is probably one of the biggest steps in anyone’s life. From speaking to mortgage advisors to listening to your parents tell you that home inspection reviews are great tool to find a reputable inspector, it is a huge step. 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 life, 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. If you are undecided about which area you want to live in, then research is your best friend here, making sure you get useful information that can help you towards your decision will make it easier on you.
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)
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