NEED HELP WITH DOWN PAYMENT ASSISTANCE?
NEED DOWN PAYMENT ASSISTANCE?
The experts tell us that the lack of a down payment is the number one obstacle to home ownership. Many potential homeowners have the monthly income to qualify for a loan but lack the funds to make that down payment.
In recent years financing option included 100% financing, and second loans. Neither of those options is available to most borrowers. A buyer needs 3.5% of the purchase price to qualify for an FHA loan and conventional loan programs usually require 10% or more. The best rates are available to borrowers who have more than 20% to put down.
There is a new option on the horizon. Down Payment Resource provides a tool for potential borrowers to determine if they can find help in getting a down payment. This tool helps borrowers search State and Federal programs for which they may qualify.
If you are looking for help finding resources for a down payment select this link:
Tags: El Dorado Hills California, El Dorado Hills Homes, El Dorado Hills Real Estate, El Dorado Hills Realtor, Financial services, Folsom, Folsom Homes, Folsom Real Estate, Folsom Realtor, Real estate economics