Down Payment Assistance Program Is Not As Difficult As You May Think

Image Design by Diana Walton- Houston First Time Home Buyer Specialist

Hello and welcome to Houston First Time Home Buyers Edition, where we provide useful information to help Houston first time home buyers make the most informed decision when it comes to buying, decorating, and maintaining their first home.

The financial hurdles of buying your first home can be overwhelming. One major obstacle is the down payment, which is a very large upfront cost that can deter most first time home buyers. The good news is, there are down payment assistance programs you can qualify for to help make your dream of owning a home a reality.

Down payment assistance programs are offered by government agencies to provide financial support to qualified first time home buyers, in the form of grants, loans or tax credits, to help cover all of the down payment and possibly some of the closing costs.

If you are ready to purchase your first home and will need down payment assistance, you will need to let your loan officer know before or during the mortgage application process. Factors use to determine your eligibility for most down payment programs include but not limited to your debt to income ratio, your credit score, and your income.

Once the loan officer run your credit, review your mortgage application and submitted documents he or she will let you know if you qualify for down payment program, which program you qualify for and how much you will receive from the program. One requirement for some down payment assistance program will be to complete an online course.

Down payment assistance programs is a valuable resource for first time home buyers. While getting the correct information will often depend on where you look online and who you speak to, understanding how these programs work, can and will increase your chances of achieving your goal of owning your first home.

You may think it is difficult, but it really is not. If you are ready to begin your home buying process and do not know where to start, please call us. We work with first time home buyers all day. Every day.

As always, thank you so much for stopping by. Remember, if you are thinking of purchasing your first home, please contact us. We are here to help. We have been helping Houston first time home buyers since 2011 and we can help you. I hope you have an amazing day. Until next time...Diana