If you really want to own a home you will figure out a way to own a home. Nobody says it is easy and you shouldn’t expect it to be as coinvent as fast food drive though. Nope, you need to pick up a recipe book and learn how to cook this meal yourself. You can do it and there are many people out there that want to help you succeed. Today I am sharing one more tool you can use. This tool will help you find a lender or may help your lender find a program to help you. Don’t be surprised if they haven’t heard of it either!!
I recently learned about the many down payment programs myself during one of my continuing education classes. I wish that my buyer’s agent had told us about this tool when we bought our first house. The Down Payment Finder is easy to use but each program has its own requirements and process. You will have to do some research to figure out the best program for your situation and how to navigate the process. It’s a free service to you.
On the first page you will input information about the home you are interested in buying or the area you are looking at buying a home. The address I pulled of a current listing in Kansas City reveals that there are eleven programs that may be available to help with the purchase of this home.
One the next tab enter the information a little information about your household. I entered some generic information to see how that affects the number of matched programs. In this case, the annual household income and current home ownership has dropped the number of available programs from eleven to four.
The last step is special circumstances. Teachers, first responders, and healthcare workers may qualify for programs because of their occupation. In this scenario, having a disabled person in the household changed the number of matched programs from four back up to five.
Finally, click view programs and see what may be available to your family. Read through the brief description of each program and click learn more. You will find links to apply and may even find a list of lenders that participate in the program you have selected.
Note that the program will display in red Out of Funds if they benefit is no longer available for the time. Some programs are allotted money each year and become available again.
Check it out today and see what your options are. You may be surprised how much help is available to you and your family. Feel free to reach out to the participating lenders for the program you are interested as they should be able to answer any questions you have. Even if you are already working with a lender refer them to the Downpayment Finder tool, as they may be able to help you with some of the programs that do not require working with a participating lender.