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Grants Allow Homebuyers to Buy Now Rather than Saving Years for a Down Payment
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Added: 01/10/2004
Type: Summary
Viewed: 1001 time(s)
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Grants Allow Homebuyers to Buy Now Rather than Saving Years for a Down Payment
Everyone dreams of owning their own home and enjoying the pride, comfort, security, and tax advantages inherent to homeownership. But for many prospective buyers, saving the money necessary for a down payment and closing costs essential to purchasing a home, is a daunting or even overwhelming task.
What many of these home buyers don’t realize is there are programs and non-profit organizations that were specifically created to assist those looking to clear the “down payment hurdle,” and make a move towards opportunity, self-reliance, and the dream of homeownership today.
Typically, down payment and closing costs equal approximately five to six percent of the total purchase price of a home. In this robust marketplace, that can add up to thousands of dollars.
Mark Barrow and John Roush of Prestige Real Estate Group, one of Colorado’s leading residential real estate firms, have discovered little-known, non-profit organizations that have developed programs that provide the down payment, closing costs, and other financial assistance for thousands of homebuyers.
The money is provided through a grant (which you do not need to repay) and qualifying is as easy as filling out a form.
“Many assistance programs require the applicant to attend classes, be the primary
resident in the dwelling, and limits the purchase price of the property, but that is not the case with this new breed of homebuyer assistance programs.” said Mark Barrow, broker associate at Prestige Real Estate Group. “This program works with investment properties, FHA or conventional financing, features no income limits to the applicants and doesn’t limit the purchase price or grant amount.
“With assistance programs like this out there, there is no reason to spend years saving for a down payment. You can become a homeowner now, earn equity instead of throwing away money on rent, and enjoy the tax benefits of homeownership. It’s a very simple program and we can show you how to take advantage.
In addition to helping you purchase the home of your dreams these programs provide tools to help you keep your home. The program’s Mortgage Payment Protection Plan guarantees monthly mortgage payments will be made in the event that the primary borrower losses his job. This protection, which covers the first 12 months of the loan is automatically applied to every eligible loan at no cost to the lender, borrower, buyer, or seller.
For more information, contact Mark Barrow or John Roush at Prestige Real Estate Group, 303/268-8842.
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Poster: Virginia Carey
Added: -0/2-/2004
Hi Mark Barrow, I was just wondering how you got the email address of my neice and my buyer Anne McHugh in just spoke to her and she indicated that you have been sending her information via the internet.
Please let me know?
Thanks Virginia Carey
Cherry Creek Realty Southeast
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