Is it Easy to Qualify for Down Payment Assistance

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Down payment assistance programs have been a hot topic in the real estate industry. If you want to buy a home but don’t have enough for the down payment, then this video is for you. There have been some major overhauls in some of the down payment assistance programs that we are accustomed to.

Income Limits for Down Payment Assistance

In years past, the income limits for these down payment assistance programs were very low. Now, in Riverside County, you can make about $128,000 per year and still qualify for things like CALHFA or GSFA.

These programs can provide you not only the down payment that you need, but you might also qualify to receive closing costs on top of the down payment. Qualifying for down payment assistance means that you might be ready to buy a home sooner than you originally anticipated. Don’t make the mistake of thinking that you can’t buy your first home if you don’t have enough money in the bank right now for a down payment!

Information About Qualification

If you are a first-time home buyer and you need more information on these programs, the best solution is to talk to a lender about your options. A lender will not only help you see if you qualify for down payment assistance, but you can also evaluate various loans and interest rates that are available for your purchase.

It is always smart to research your financing options before starting the home search. This prequalification will help you dial in the price point that you can afford for the purchase. Then, you can be sure to narrow your home search based on the amount of money that you will be able to spend.

Finding the Right Home for Your Family

With a good real estate agent and a trusted lender, you can have confidence knowing that it can be easy to find the right home for your family. Leaning on professional expertise in the industry is essential if you want to avoid common pitfalls when buying your first home.

Do you need help finding your first home in Temecula? Contact me for help with the real estate industry. Call, text or email: (951) 473-0390 or [email protected]