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Down Payment Assistance

All articles tagged with #down payment assistance

real-estate1 year ago•11 min saved

"Zero-Down Mortgages Return: Opportunities and Risks"

United Wholesale Mortgage (UWM) has introduced a 0% down payment mortgage program offering up to $15,000 or 3% of a home's purchase price for first-time and middle-income homebuyers. While this initiative aims to remove the barrier of down payments, it comes with risks, including the need to repay the assistance loan upon refinancing or selling the home. The program has generated significant interest, but potential buyers should carefully consider the terms and explore other mortgage options that may offer grants without repayment obligations.

via Detroit Free Press|

#0percent-down-mortgage #down-payment-assistance #homeownership

finance2 years ago•2 min saved

"California Revives Dream for All Program, Offering Affordable Loans to First-Time Homebuyers"

California is relaunching its Dream for All program with $250 million in down payment assistance for first-time homebuyers, using a lottery system to ensure equitable distribution of loans. The program aims to reach a more diverse group of borrowers and will provide up to 20% of the purchase price or $150,000, whichever is lower, to successful applicants. With home sales slowing down and prices remaining high, the program seeks to alleviate the challenge of obtaining a down payment, with officials estimating 1,700 to 2,000 lottery winners receiving vouchers to use within 60 days.

via KABC-TV|

#california #down-payment-assistance #finance

real-estate2 years ago•2 min saved

"California Revamps Homebuyer Program with New Lottery for Down Payment Funding"

California's Dream For All Shared Appreciation loan program, aimed at helping first-time homebuyers with down payments, is relaunching with changes including a new lottery system to handle the high demand, lower income limits, and a larger fund allocation. Prospective home buyers have until April to find a state-approved lender and start working on the application, with 1,700 to 2,000 winners receiving vouchers. The program aims to reach a more diverse group of potential home buyers statewide and ensure equitable distribution of funds across different regions.

via KTLA Los Angeles|

#california #down-payment-assistance #first-time-home-buyers

real-estate2 years ago•4 min saved

Navigating the Rising Mortgage Rates: Tips for Finding the Best Deals

Mortgage rates continue to rise, reaching nearly 8%, making it a challenging year for home sales due to high rates and low housing supply. To find the best deals, buyers should shop around for the best mortgage rate and consider making a larger down payment. Freddie Mac launched a tool called DPA One® to help identify and utilize down payment assistance programs. Existing home sales are projected to be the lowest in 15 years, while sales of newly built homes are performing better. The Mortgage Bankers Association's chief economist predicts that the Federal Reserve will not raise interest rates in November and expects rates to start trending down over the next two years.

via Fox Business|

#down-payment-assistance #federal-reserve #home-sales