eXp Realty California Inc DRE#01878277
Taunee English, Broker Associate, eXp Realty California Inc DRE#01878277
Email: [email protected]

Assistance Programs to Get You in Your New Home

by Taunee English, Broker Associate 11/01/2020

Image by Tumisu from Pixabay

If you’re in the market for a new home, chances are you’ve been evaluating your finances. As a first-time homebuyer, there are programs in place to help with the down payment. According to the December 2019 Realtor Index Confidence Survey, first-time homebuyers accounted for 31% of all sales, and 77% put down less than 20%.

Once you’ve worked with a mortgage lender to get a competitive rate, these programs may help with getting into your dream home:

  • VA Loans
  • Are you a veteran or active duty? If so, you won’t need to look far. This program helps individuals get a home with no down payment. It’s backed by the government and has a series of requirements to meet. There are also Adapted Housing Grants, which help purchase a home adapted for a service-related disability, or if upgrades need to be done to the home to make if accessible.

  • USDA Loans
  • If you’re looking in a rural area, this loan by the Department of Agriculture may be the one for you. There is no down payment to participate, but there are income requirements. When hearing the word rural, you may think it’s totally country but there are tons of “rural” areas that are well populated.

  • HUD Good Neighbor Next Door
  • This program from the Department of Housing and Urban Development (HUD) lists eligible properties by state and is not limited to first-time homebuyers. The property must be in an area marked for revitalization and is only open to certain professions like law enforcement officers, firefighters, emergency medical technicians and teachers. If approved, you must live in the property for at least 36 months and receive up to 50% off the list price of the home.

    Local First-Time Homebuyers Grants

    Many municipalities offer funds from their own first-time homebuyer programs. There are certain requirements to meet, such as requiring the owner live in the home for a short period of time. In many cases, the grant is forgivable over a period of time. There are also block grants through Congressional districts, which are distributed through local programs.

    A mortgage broker will be able to recommend additional programs you may qualify for based on the area you are attempting to purchase in. Homeownership doesn’t have to be complicated – it may just take a little work to get what you want and the assistance you need. Call a realtor and mortgage broker to get started on the process today.

    About the Author
    Author

    Taunee English, Broker Associate

    TAUNEE is

    2019 Beverly Hills/Los Angeles REALTOR of the YEAR!

    Taunee English is third-year award winning Real Estate Broker. She is the new Branch Manager of Beverly Hills, eXp Realty California Inc a ResiMercial Brokerage serving Greater Los Angeles and the 2019 winner of Los Angeles Real Estate Agency Award!

    She is an U.S Navy Veteran, and she is as devoted to entrepreneurship and professional development as she is to our country. Taunee serves as Chair of Professional Development Committee at Beverly Hills/Greater Los Angeles Association of Realtors and also serves as a State Director, California Association of Realtors.

    Taunee English is strong supporter of Women In Leadership and is one of the founding members and 2021 President of LA/Beverly Hills Women's Council of REALTORS®.

    And most of all she devoted daughter to her parents - a mother that she plays Twinsie with fashion photo shoots at least three times a year and a father who has the onset of Alzheimer which prompted Taunee to obtain her certificate in Fiduciary Management from UC Riverside and to further her work with families in establishing trusts and avoiding probate.

    Broker Associate of eXp Realty of California Inc. License ID: 01878277