Have you been dreaming of owning your first home, but think you just can’t get the Benjamins together to make it a reality?
Going to a Realtor is not going to be your first step. Not all Realtors are proficient at all your options. Some even don't know about certain loan programs because they are not easily found! Realtors will come after you have an approval for a loan.
But did you know that going to a lender is not your first step, either? You may not get all your options from a lender, because they most likely won't break down the details of loan programs they don't offer.
Wouldn't it be great if there was an unbiased place you could go to, before you were actually ready to go house hunting, where you could get all your options, where you could get the entire homebuying process simplified, and where you could be empowered with the tools and the confidence to then advocate for yourself and get the best lender, the best loan program, and the best Realtor for you?
That is what First Home Journey strives to do. We take the stress and the overwhelm out of the process by educating you, and mentoring you through the process.
Here are two options you may not know about in the event that you are struggling to come up with a down payment.
A great place to look for financial assistance is through the Housing Finance Authority in your state. Here is their directory to find the one in your state. Sometimes they offer special programs to teachers, or if you are eligible, they may have deferred payment junior loans to help with the down payment. In some cases, there are forgivable grants, which means that if you live in the house long enough, you don't have to pay it back!
If you meet the eligible income limits, and the location you are looking to live is in a rural area then a USDA Loan may be something to look into. Yes, USDA stands for the United States Department of Agriculture...but no, it doesn't mean you have to purchase a farm. In some cases, you don't even need a down payment. Explore their site to see if you meet the eligibility requirements.
Knowing your options is crucial in making sure you are getting the best deal for you. If you want to explore ALL your options in a safe, unbiased space, then look into our full program that comes with a personal workbook and membership into a private community for motivation and support!
As always, if you have any questions, please reach out to your First Home Mentor, Russ Jones.