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| Real Estate Terms -> What is Down Payment Assistance |
Down Payment Assistance
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What is Down Payment Assistance? |
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One of the largest expenses that a home buyer has to overcome is the down payment. Typical Real Estate Loans may require a down payment of more than 5% of the selling price. So a home of $250,000 would require a down payment of $12,500 or more. Many buyers, especially 1st Time Buyers, Low Income Borrowers or Moderate Income Borrowers will have a difficult time raising this much cash. We use three programs to reduce or remove the down payment. These programs are 100% Financing, Silent Seconds, and Shared Equity programs. |
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