05/13/2022
Just priced out a loan for a client that's currently shopping. We checked into some Down Payment Assistance options and were getting some great numbers back.
In the scenario we priced out, at a purchase price of $250k, we were getting amounts for assistance ranging from $7k-$17k in down payment assistance!
These programs often mean a slightly higher than market interest rate, but are great options for those strapped for cash or looking to pay as little out of pocket as possible.
Down Payment Assistance Programs also pair perfectly with USDA's 100% financing option, meaning you can take a better rate with a lower assistance amount since the costs are already greatly reduced by going with a USDA program.
If you're interested in seeing about your options, shoot me a message!