What is Down Payment Assistance?Down Payment Assistance takes on many forms. When most people think about Down Payment Assistance, they think of getting the money for the down payment
Seventy Percent Of Buyers Qualify For This Type Of Down Payment Assistance
What is Down Payment Assistance?
Down Payment Assistance takes on many forms. When most people think about Down Payment Assistance, they think of getting the money for the down payment they need for a down payment to buy a home. This is only a small part of what down payment assistance can be for most buyers. Down Payment assistance also takes the form of the following:
1. Low or Zero down payment programs which allow the borrower to buy a home without having to have a large down payment?
2. Loans that have either reduced or no private mortgage insurance. This reduces the monthly costs of buying a home.
3. Second loans that pay the down payment that are paid back over a ten year period.
4. Grants used to pay the required down payment on a home that do not need to be paid back.
5. Programs that pay both the down payment plus part or all of a buyers closing costs.
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