4 Quick Ways to Buy a Home With Little Down
Goodale Realty Team at JK Realty
The Goodale Realty Team at JK Realty
4 Quick Ways to Buy a Home With Little Down
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Are you wasting thousands of dollars on rent and dreaming of becoming a homeowner? You can already make a monthly house payment (you’re already paying rent), but the problem is coming up with money for a down payment. It’s not as difficult as you might think.
Here are ways to get a down payment with little out of your own pocket:
- Look Into Local or Federal Government Programs.You may qualify for special government programs, such as those for first-time homebuyers and members of the military. You also may have access to aid from Fannie Mae and Freddie Mac (government-sponsored mortgage programs). Additional resources are non-profit and community groups and state agencies. There are too many programs to list here and they expire or change frequently. Your best option is to ask a REALTOR® to point out a few programs that apply to your area and situation.
- Have the Seller Finance You. Some sellers may be willing to help you buy their homes. In a “seller take-back,” the seller holds a second mortgage for you and becomes your lender. You would make your monthly mortgage payments to the seller.
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