The Bank of America has announced a new $5 billion affordable home initiative that aims to assist low- to moderate-income and multicultural buyers with down payments and closing costs. The BoA says it hopes its Neighborhood Solutions program will help more than 20,000 buyers enter homeownership within the next five years. The program includes both
Here’s where you can get help with your down payment
December 6, 2018 by
Surveys of first time buyers routinely show that saving for a down payment is one of the biggest hurdles on the way to homeownership. But those buyers may well misunderstand how much cash they actually need to save. “Paying 20 percent down is, quite frankly, a myth,” Karen Hoskins, vice president at NeighborWorks, told HouseLogic.
Loftium will stump up your down payment, but only if you become an Airbnb host
September 20, 2017 by
That company is called Loftium, which says it will provide up to $50,000 in down payment money in return for homeowners renting out one of their rooms for between one and three years,
The rise of equity-sharing, down payment assistance
May 31, 2017 by
A new trend is seeing finance companies help buyers with down payments on a home in exchange for future equity in their properties.
States offer housing assistance to college graduates to entice them to stay put
May 10, 2017 by
Recent college graduates are being offered a helping hand towards homeownership in some states, which are prepared to grant them thousands of dollars towards buying a property
What your clients need to know about cash gifts for down payments
December 1, 2016 by
It’s fairly normal for first-time buyers to receive down payment assistance from family members or close friends, but not everyone realizes there are quite strict rules in place that need to be adhered to.
Down payment assistance leads to big savings over a loan’s lifetime
June 14, 2016 by
Home buyers can afford big savings over the lifespan of their home loan by taking advantage of down payment assistance programs, according to a new report jointly published by RealtyTrac and Down Payment Resource.
Wells Fargo down payment assistance program helps 11,000 homeowners
March 2, 2016 by
NeighborWorks America has teamed up with Wells Fargo to offer residents of more than forty communities down payment grants via its newly created Neighborhood LIFT program.
1/4 of first-time buyers seek down payment assistance
October 27, 2015 by
With younger buyers increasingly finding themselves locked out of the real estate market by rising prices that make it difficult to save for a down payment, many are turning to mom and dad.
‘Keep Your Home California’ Expands Eligibility
April 5, 2011 by
The California Housing Finance Agency (CalHFA) is expanding the criteria for eligibility for the Keep Your Home California programs, in a effort to help more families keep their homes. Many low to moderate income California homeowners who are having trouble paying their mortgages may be able to keep their homes through the assistance of these
