Can You Qualify For HomeBuyer Assistance Programs?
There are over 2,290 programs across the country designed to assist homebuyers with meeting their down payment requirements, according to RealtyTrac. The real estate research giant teamed up with Down Payment Resource, a purveyor of down payment assistance programs, to evaluate the many options.
The average amount of down payment assistance per buyer? Over $11,500! These loans typically come in the form of below-market interest rates or 100% financing, mortgage credit certificates that provide greater tax credits, or neighborhood stabilization programs designed to revitalize communities.
Down Payment Resource’s website can be found here. If you’re looking for a home, be sure to talk to your lender and agent for individualized assistance programs