Saving the money for a downpayment is often one of the biggest challenges for first-time home buyers. Downpayment assistance programs are loan programs intended to help first-time home buyers with this home downpayment. There are numerous loan programs available that offer flexible payment options for home owners. These mortgage loan programs are not just for low income home buyers, there are even downpayment assistance programs available for those who make up to 120% of the average income in the area. Many renters, in particular, aren’t familiar with all of the downpayment assistance programs out there to help them achieve home ownership and stay stuck in the rent loop. There exists a wide variety of programs that could help cover some, or even all, downpayment needs, with some grant programs that don’t even have require repayment.
Contact me today to learn more about available Downpayment Assistance Programs. Your mortgage broker in Burbank.