Find Your Home’s Value
There are many factors that play a role in determining the value of a property. One of the key factors is LOCATION. Face to Face Realty offers our clients a FREE MARKET ANALYSIS of their property. This analysis is designed to give you specific, up to date information about your property and your local market. Please take a moment to provide us with the requested information below and we will provide you with the market analysis at no cost.
Don’t let a lack of down payment stop you from owning a home. Here are 5 ways you can own a home without a down payment:
1) Gift Funds:
Lenders generally allow you to use funds given to you as a gift to go towards your down payment. These funds must come from a relative, i.e. grandparents, siblings, significant other, etc.
2) 401K:
You can borrow from your employer-sponsored 401k to fund your down payment. On 401k loans, borrowing limits are generous. You can borrow up to the lesser of $50,000 or half the value of the account.
3) Down Payment Assistance Program:
Since 2002, the National Homebuyers Fund has provided more than $200 million in direct grants to more than 30,000 buyers. These funds are usually available in certain states on a loan of certain sizes. It is a good idea to speak to a Realtor who can point you in the right direction before assuming you qualify.
4) Special Government Services :
If you or your spouse is a current or former member of the military, your family may qualify for a VA Home Loan backed by the federal government (Department of Veteran Affairs). These loans require no money down.
5) USDA:
If you are buying a home in a rural or outer suburban area, you may qualify for a USDA Loan, also called a “Rural Development Loan”. This loan is designed to bring housing within reach for lower-income country dwellers.
We are sure if you put one of these 5 alternatives into place, you will be in your own home in no time.
For more tips and alternatives on how to own a home, or to make the home ownership process smooth and pain-free, keep following FACE TO FACE REALTY ( @Face2FaceRealty ).