{"id":1220,"date":"2020-10-27T15:15:07","date_gmt":"2020-10-27T15:15:07","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=1220"},"modified":"2020-10-27T15:15:07","modified_gmt":"2020-10-27T15:15:07","slug":"payment-assistance-opens-door-homeownership","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/payment-assistance-opens-door-homeownership\/","title":{"rendered":"How Down Payment Assistance Opens the Door to Homeownership"},"content":{"rendered":"
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How Down Payment Assistance Opens the Door to Homeownership<\/p><\/div>\n

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Many people are eager to buy a home right now while\u00a0affordability<\/a>\u00a0continues to be a highlight of the current housing market. However, a recent\u00a0survey<\/a>\u00a0by\u00a0Sparks Research\u00a0<\/em>shows that 20% of first-time homebuyers cite a lack of financial education as a barrier to homeownership. This is definitely understandable. If you don\u2019t feel comfortable with the financial process of buying a home, it\u2019s hard to make a confident decision. In fact, four in five homebuyers say they need help to understand what they can even afford in the first place. This is why finding the right professionals to help you through the process is so important.<\/p>\n

On top of that, the same survey reports over two-thirds of prospective homebuyers believe they\u2019ll need assistance to save enough for a\u00a0down payment<\/a>. What they may not realize is that there are a lot of down payment assistance programs at the state and regional levels, and many of them have funds available for potential buyers.\u00a0Down Payment Resources<\/em>\u00a0recently released its\u00a0Q3 2020 Homeownership Program Index<\/em><\/a>, which explains:<\/p>\n

\u201cThe number of total programs is 2,340, and\u00a0over 81 percent (81.1%) of programs currently have funds available<\/strong>\u00a0for eligible homebuyers.\u201d<\/em><\/p><\/blockquote>\n

Down Payment Assistance Programs Are Not Only for First-Time Homebuyers<\/strong><\/h4>\n

Keep in mind, these programs aren\u2019t just for first-time homebuyers, so it\u2019s worth exploring your options no matter where you are in your homeownership journey. For example, if you\u2019re\u00a0working from home<\/a>\u00a0now, you may be thinking of relocating to a more affordable area where you can stretch your dollar further and have more space, inside and out. Lawrence Yun,\u00a0Chief Economist<\/em>\u00a0for the\u00a0National Association of Realtors<\/em>\u00a0(NAR),\u00a0explains<\/a>:<\/p>\n

\u201cRural areas have mortgages (USDA loans) that don\u2019t require down payments; and some workers who can work from home may want to consider outer suburbs or small towns where USDA home loans are available and where homes are very affordable.\u201d<\/em><\/p><\/blockquote>\n

If affordability is on your mind and you\u2019re expecting to be working from home long-term, the right home may be in an area you haven\u2019t considered yet. In addition, the assistance program you need might be within reach too.<\/p>\n

If you\u2019re interested in learning more about down payment assistance programs, additional information is available through\u00a0Down Payment Resource<\/em><\/a>. Your real estate advisor can help you decide which option is best for you personally.<\/p>\n

Bottom Line<\/strong><\/h3>\n

Thanks to a range of down payment assistance programs, affordable options are out there for today\u2019s hopeful homebuyers. It\u2019s important to get the financial education you need to understand the homebuying process and accomplish your real estate goals. Let\u2019s connect today to get you started on the path to your dream home.<\/p>\n<\/div>\n<\/div>\n<\/article>\n

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719<\/span>
\nFax:\u00a0(407) 205-1951<\/span>
\nemail:\u00a0info@phphouses.com<\/p>\n

Let\u2019s Connect:<\/strong>
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THE INFORMATION PRESENTED IN THIS ARTICLE IS FOR EDUCATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSIDERED LEGAL, FINANCIAL, OR AS ANY OTHER TYPE OF ADVICE.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

Down Payment Resources\u00a0recently released its\u00a0Q3 2020 Homeownership Program Index, which explains: Finish Reading How Down Payment Assistance Opens the Door to Homeownership<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[36,69],"tags":[38,15,43,268,269,270,10,18,27,91,86,52,49,42,23,55,63,20,12,48,13,6],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1220"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=1220"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1220\/revisions"}],"predecessor-version":[{"id":1222,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1220\/revisions\/1222"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=1220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=1220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=1220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}