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Down Payment Assistance

All articles tagged with #down payment assistance

real-estate5 days ago•6 min saved

Turn Your Home Inspection Into Negotiation Power for First-Time Buyers

The article guides first-time homebuyers on translating a lengthy home inspection report into a strategic plan: prioritize the big five (roof, foundation, HVAC, electrical panel, plumbing), separate routine maintenance from major issues, and sort findings into buckets—fix it later, ask for credits, think twice—to guide negotiations for seller concessions or closing costs. If repairs strain the budget, you may choose to walk away with solid data. It also emphasizes building a cash buffer for post-inspection fixes and highlights down payment assistance options, such as Progressive’s UpPayment program offering up to $13,500 to eligible buyers.

via vox.com|

#big-five #down-payment-assistance #first-time-buyer

business1 month ago•3 min saved

Bank of Mom and Dad Fuels 2026 Gen Z Homebuyers

Young buyers are increasingly relying on parental help to buy homes in 2026, with 40% of homeowners receiving down-payment assistance (up from 35%), led by Gen Z (78%) and millennials (56%). Cash gifts from family commonly range from $25k to $49,999, and about 74% of parents plan to or have already helped, with 29% saying helping is more important than paying for college. This support—typically funded from checking accounts (65%), investments (50%), home equity (35%), and retirement accounts (32%)—helps about 43% qualify for a mortgage and 33% reduce monthly payments.

via CNBC|

#business #down-payment-assistance #gen-z

business4 months ago•4 min saved

California opens a 20-day window for up to $150K in down-payment help for first-time buyers, via a shared-appreciation loan

First-time California buyers have a 20-day window (Feb. 24–Mar. 16) to enter a lottery for up to $150,000 in down-payment assistance through CalHFA’s Dream For All Shared Appreciation Loan. The aid is a shared-appreciation loan repaid at sale or refinance plus 15–20% of the home’s appreciation, with funds recycled into the program. Eligibility requires at least one borrower to be a first-generation homebuyer, all borrowers to be first-time buyers, California residency, county income limits, a DFA lender pre-approval letter, and completion of a mandatory one-hour education course.

via New York Post|

#business #california #down-payment-assistance

real-estate2 years ago•11 min saved

"Zero-Down Mortgages Return: Opportunities and Risks"

United Wholesale Mortgage (UWM) has introduced a 0% down payment mortgage program offering up to $15,000 or 3% of a home's purchase price for first-time and middle-income homebuyers. While this initiative aims to remove the barrier of down payments, it comes with risks, including the need to repay the assistance loan upon refinancing or selling the home. The program has generated significant interest, but potential buyers should carefully consider the terms and explore other mortgage options that may offer grants without repayment obligations.

via Detroit Free Press|

#0percent-down-mortgage #down-payment-assistance #homeownership

finance2 years ago•2 min saved

"California Revives Dream for All Program, Offering Affordable Loans to First-Time Homebuyers"

California is relaunching its Dream for All program with $250 million in down payment assistance for first-time homebuyers, using a lottery system to ensure equitable distribution of loans. The program aims to reach a more diverse group of borrowers and will provide up to 20% of the purchase price or $150,000, whichever is lower, to successful applicants. With home sales slowing down and prices remaining high, the program seeks to alleviate the challenge of obtaining a down payment, with officials estimating 1,700 to 2,000 lottery winners receiving vouchers to use within 60 days.

via KABC-TV|

#california #down-payment-assistance #finance

real-estate2 years ago•2 min saved

"California Revamps Homebuyer Program with New Lottery for Down Payment Funding"

California's Dream For All Shared Appreciation loan program, aimed at helping first-time homebuyers with down payments, is relaunching with changes including a new lottery system to handle the high demand, lower income limits, and a larger fund allocation. Prospective home buyers have until April to find a state-approved lender and start working on the application, with 1,700 to 2,000 winners receiving vouchers. The program aims to reach a more diverse group of potential home buyers statewide and ensure equitable distribution of funds across different regions.

via KTLA Los Angeles|

#california #down-payment-assistance #first-time-home-buyers

real-estate2 years ago•4 min saved

Navigating the Rising Mortgage Rates: Tips for Finding the Best Deals

Mortgage rates continue to rise, reaching nearly 8%, making it a challenging year for home sales due to high rates and low housing supply. To find the best deals, buyers should shop around for the best mortgage rate and consider making a larger down payment. Freddie Mac launched a tool called DPA One® to help identify and utilize down payment assistance programs. Existing home sales are projected to be the lowest in 15 years, while sales of newly built homes are performing better. The Mortgage Bankers Association's chief economist predicts that the Federal Reserve will not raise interest rates in November and expects rates to start trending down over the next two years.

via Fox Business|

#down-payment-assistance #federal-reserve #home-sales