Author name: developers

Down Payment Assistance Programs Can Help Pave The Way To Homeownership

Down Payment Assistance Programs Can Help Pave the Way to Homeownership

Down Payment Assistance Programs Can Help Pave the Way to HomeownershipIf you’re looking to buy a home, your down payment doesn’t have to be a big hurdle. According to the National Association of Realtors (NAR), 38% of first-time homebuyers find saving for a down payment the most challenging step. But the reality is, you probably don’t need to put down as much as you think:

Data from NAR shows the median down payment hasn’t been over 20% since 2005. In fact, the median down payment for all homebuyers today is only 15%. And it’s even lower for first-time homebuyers at 8%. But just because that’s the median, it doesn’t mean you have to put that much down. Some qualified buyers put down even less.For example, there are loan types, like FHA loans, with down payments as low as 3.5%, as well as options like VA loans and USDA loans with no down payment requirements for qualified applicants. But let’s focus in on another valuable resource that may be able to help with your down payment: down payment assistance programs.First-Time and Repeat Buyers Are Often EligibleAccording to Down Payment Resource, there are thousands of programs available for homebuyers – and 75% of these are down payment assistance programs.And it’s not just first-time homebuyers that are eligible. That means no matter where you are in your homebuying journey, there could be an option available for you. As Down Payment Resource notes:“You don’t have to be a first-time buyer. Over 39% of all [homeownership] programs are for repeat homebuyers who have owned a home in the last 3 years.”The best place to start as you search for more information is with a trusted real estate professional. They’ll be able to share more information about what may be available, including additional programs for specific professions or communities. Additional Down Payment Resources That Can HelpHere are a few down payment assistance programs that are helping many of today’s buyers achieve the dream of homeownership:Teacher Next Door is designed to help teachers, first responders, health providers, government employees, active-duty military personnel, and veterans reach their down payment goals.Fannie Mae provides down-payment assistance to eligible first-time homebuyers living in majority-Latino communities.Freddie Mac also has options designed specifically for homebuyers with modest credit scores and limited funds for a down payment.The 3By30 program lays out actionable strategies to add 3 million new Black homeowners by 2030. These programs offer valuable resources for potential buyers, making it easier for them to secure down payments and realize their dream of homeownership.For Native Americans, Down Payment Resource highlights 42 U.S. homebuyer assistance programs across 14 states that ease the path to homeownership by providing support with down payments and other associated costs.Even if you don’t qualify for these types of programs, there are many other federal, state, and local options available to look into. And a real estate professional can help you find the ones that meet your needs as you explore what’s available. Bottom LineAchieving the dream of having a home may be more within reach than you think, especially when you know where to find the right support. To learn more about your options, let’s connect.

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If Your House Hasn’t Sold Yet, It May Be Overpriced

If Your House Hasn’t Sold Yet, It May Be Overpriced

Has your house been sitting on the market a while without selling? If so,
you should know that’s pretty unusual, especially right now. That’s because
the supply of homes available for sale is still far lower than what we’d
see in a normal year. That means buyers have fewer options than they
usually would, so your house should be an oasis in an inventory desert.

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The Ultimate Checklist For Planning Your Vaughan Home Renovation

The Ultimate Checklist for Planning Your Vaughan Home Renovation

Welcome to the ultimate guide for planning your home renovations in Vaughan
! At Northern Construction & Management, we understand the importance of
turning your house into the home of your dreams. Our team is dedicated to
providing top-notch renovation services tailored to your needs. In this
comprehensive checklist, we’ll walk you through the key steps to ensure a
seamless and successful home renovation project.

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Why Now Is Still A Great Time To Sell Your House

Why Now Is Still a Great Time To Sell Your House

If you were worried buyer demand disappeared when mortgage rates went up,
the data shows there are plenty of interested buyers still out there. The
housing market isn’t as frenzied as it was during the ‘unicorn’ years when
buyer demand was through the roof, mortgage rates were historically low,
and home values rose like we’ve never seen before. But that doesn’t mean
the market is at a standstill.

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Where To Find And How To Style Designer Furniture

Where to Find and How to Style Designer Furniture

Are you on the lookout for designer home furniture in Ottawa that not only
exudes sophistication but also complements your unique style? Look no
further. At Northern Interiors, we understand the importance of
transforming your living space into a haven of elegance and comfort. In
this comprehensive guide, we unveil the secrets to finding the most
exquisite designer furniture and provide insights on styling your home with
unparalleled sophistication.

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Expert Quotes On The 2024 Housing Market Forecast

Expert Quotes on the 2024 Housing Market Forecast

If you’re thinking about buying or selling a home soon, you probably want
to know what you can expect from the housing market in 2024. In 2023,
higher mortgage rates, confusion over home price headlines, and a lack of
homes for sale created some challenges for buyers and sellers looking to
make a move. But what’s on the horizon for the new year?

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