{"id":2809,"date":"2022-07-08T13:26:46","date_gmt":"2022-07-08T13:26:46","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=2809"},"modified":"2022-07-08T13:26:46","modified_gmt":"2022-07-08T13:26:46","slug":"homeownership-reach-payment-assistance-programs","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/homeownership-reach-payment-assistance-programs\/","title":{"rendered":"Homeownership Could Be in Reach with Down Payment Assistance Programs"},"content":{"rendered":"<div id=\"attachment_2810\" style=\"width: 760px\" class=\"wp-caption aligncenter\"><img aria-describedby=\"caption-attachment-2810\" decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-2810\" src=\"https:\/\/phphouses.com\/blog\/wp-content\/uploads\/2022\/07\/20220628-KCM-Share-1.jpeg\" alt=\"\" width=\"750\" height=\"410\" srcset=\"https:\/\/phphouses.com\/blog\/wp-content\/uploads\/2022\/07\/20220628-KCM-Share-1.jpeg 750w, https:\/\/phphouses.com\/blog\/wp-content\/uploads\/2022\/07\/20220628-KCM-Share-1-300x164.jpeg 300w\" sizes=\"(max-width: 750px) 100vw, 750px\" \/><p id=\"caption-attachment-2810\" class=\"wp-caption-text\">Homeownership Could Be in Reach with Down Payment Assistance Programs<\/p><\/div>\n<article id=\"post-103187\" class=\"post-103187 post type-post status-publish format-standard has-post-thumbnail hentry category-buying-myths category-down-payments category-buyers\">\n<div class=\"entry-wrap\">\n<div class=\"entry-content content\">\n<p>A recent <a title=\"survey\" href=\"https:\/\/www.bankrate.com\/mortgages\/homeownership-remains-centerpiece-of-american-dream\/\" target=\"_blank\" rel=\"noopener noreferrer\">survey<\/a> from <em>Bankrate<\/em> asks prospective buyers to identify the biggest obstacles in their homebuying journey. It found that 36% of those polled said saving for a down payment is one of their primary hurdles to buying a home.<\/p>\n<p>If you feel the same way, the good news is there are many down payment assistance programs available that can help you achieve your <a title=\"homeownership goals\" href=\"https:\/\/www.mykcm.com\/2022\/06\/10\/the-top-reasons-to-own-your-home-infographic\/\">homeownership goals<\/a>. The key is understanding where to look and learning what options are available. Here\u2019s some information that can help you.<\/p>\n<h4><strong>You Can Qualify Even if You\u2019ve Purchased a Home Before<\/strong><\/h4>\n<p>There are several misconceptions about down payment assistance programs. For starters, many people believe there\u2019s only assistance available for <a title=\"first-time homebuyers\" href=\"https:\/\/www.mykcm.com\/2022\/06\/08\/what-are-the-best-options-for-todays-first-time-homebuyers\/\">first-time homebuyers<\/a>. While first-time buyers have many options to explore, repeat buyers have some, too. According to the latest <a title=\"Homeownership Program Index\" href=\"https:\/\/downpaymentresource.com\/professional-resource\/more-homebuyer-assistance-programs-introduced-as-affordability-declines-in-most-u-s-counties\/\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Homeownership Program Index<\/em><\/a> from <em>downpaymentresource.com<\/em>:<\/p>\n<blockquote><p><em>\u201cIt is a common misconception that homebuyer assistance is only available to first-time homebuyers, however, <strong>38% of homebuyer assistance programs in Q1 2022 did not have a first-time homebuyer requirement.<\/strong>\u201d<\/em><\/p><\/blockquote>\n<p>That means repeat buyers could qualify for over one-third of the assistance programs available. And if you\u2019re a repeat buyer, you may still be able to take advantage of some first-time homebuyer programs, depending on your personal situation. That\u2019s because <em>downpaymentresource.com <\/em>also <a title=\"notes\" href=\"https:\/\/downpaymentresource.com\/homebuyer-resource\/4-common-down-payment-assistance-program-myths-debunked\/\" target=\"_blank\" rel=\"noopener noreferrer\">notes<\/a> many of the first-time homebuyer programs use the <em>U.S. Department of Housing and Urban Development\u2019s<\/em>\u00a0definition of a first-time homebuyer. Under their <a title=\"definition\" href=\"https:\/\/archives.hud.gov\/offices\/hsg\/sfh\/ref\/sfhp3-02.cfm\" target=\"_blank\" rel=\"noopener noreferrer\">definition<\/a>, you could qualify as a first-time buyer if you\u2019re:<\/p>\n<ul>\n<li>Someone who hasn\u2019t owned a primary residence in 3 years.<\/li>\n<li>A single parent who\u2019s only ever owned a home with a former spouse.<\/li>\n<\/ul>\n<p><strong>That means no matter where you are in your <\/strong><a title=\"homeownership\" href=\"https:\/\/www.mykcm.com\/2022\/06\/02\/how-homeownership-impacts-you\/\"><strong>homeownership<\/strong><\/a><strong> journey, there could be an option available for you.<\/strong><\/p>\n<h4><strong>You May Be Eligible for Programs Based on Your Location or Profession<\/strong><\/h4>\n<p>In addition to broader options available for repeat and first-time homebuyers, there are other types of down payment assistance programs that you could qualify for based on your location. <a title=\"According\" href=\"https:\/\/www.nar.realtor\/first-time-homebuyers\/first-time-homebuyer-loans-grants\" target=\"_blank\" rel=\"noopener noreferrer\">According<\/a>to the <em>National Association of Realtors<\/em> (NAR):<\/p>\n<blockquote><p><em>\u201cMany local governments and non-profit organizations offer down-payment assistance grants and loans, targeted to area borrowers and often with specific borrower requirements.\u201d<\/em><\/p><\/blockquote>\n<p>Plus, there are programs and special benefits for individuals working in certain professions or with unique statuses, including teachers, doctors and nurses, and veterans.<\/p>\n<p>Ultimately, that means there are many federal, state, and local programs available for you to explore. The best way to do that is to connect with a local real estate professional and your lender to learn more about what\u2019s available in your area.<\/p>\n<h4><strong>Bottom Line<\/strong><\/h4>\n<p>Down payment assistance programs have helped many homebuyers achieve their dreams, and if you qualify, they could help you too. Let\u2019s connect today so you can begin exploring your options.<\/p>\n<\/div>\n<\/div>\n<\/article>\n<p><strong>Contact us:<\/strong><br \/>\nPHP Houses<br \/>\n142 W Lakeview Ave<br \/>\nUnit 1030<br \/>\nLake Mary, FL 32746<br \/>\nPh:\u00a0<span id=\"gc-number-1\" class=\"gc-cs-link\" title=\"Call with Google Voice\">(407) 519-0719<\/span><br \/>\nFax:\u00a0<span id=\"gc-number-2\" class=\"gc-cs-link\" title=\"Call with Google Voice\">(407) 205-1951<\/span><br \/>\nemail:\u00a0info@phphouses.com<\/p>\n<p><strong>Let\u2019s Connect:<\/strong><br \/>\n<a href=\"https:\/\/www.facebook.com\/WeBuyHousesCentralFlorida\/\">Facebook<\/a><br \/>\n<a href=\"https:\/\/www.linkedin.com\/in\/walter-diloreto-25403710\/\">Linkedin<\/a><br \/>\n<a href=\"https:\/\/twitter.com\/WalterDiLoreto\">Twitter<\/a><br \/>\n<a href=\"https:\/\/www.instagram.com\/wdiloreto\/\">Instagram<\/a><\/p>\n<h5><em>The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The author will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.<\/em><\/h5>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are many down payment assistance programs available that can help you achieve your homeownership goals. The key is understanding where to look and learning what options are available. Here\u2019s some information that can help you. <a class=\"continue\" href=\"https:\/\/phphouses.com\/blog\/homeownership-reach-payment-assistance-programs\/\">Finish Reading<span> Homeownership Could Be in Reach with Down Payment Assistance Programs<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[36],"tags":[522,196,38,15,43,268,18,27,91,86,52,49,42,23,55,496,308,345,63,20,47,19,6],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2809"}],"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=2809"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2809\/revisions"}],"predecessor-version":[{"id":2811,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2809\/revisions\/2811"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=2809"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=2809"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=2809"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}