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Author: The DPA Team

Younger Homebuyers and Down Payment Assistance Programs

The real estate market for homes has been improving consistently since the market crash in 2008. As a result, home buying is now out of reach for many younger people who cannot put together enough cash to pay the steadily increasing down payments needed for these homes. Income has not kept pace with increasing rents or home prices, making the need for alternative funding more important.

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Younger Homebuyers are Leaning More on Assistance Programs for Down Payments

The real estate market for homes has been improving consistently since the market crash in 2008. As a result, home buying is now out of reach for many younger people who cannot put together enough cash to pay the steadily increasing down payments needed for these homes. Income has not kept pace with increasing rents or home prices, making the need for alternative funding more important.

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What is an FHA Loan?

An FHA loan is a mortgage backed by the US Government’s Federal Housing Administration or FHA. It is useful for first-time home buyers who may have lower credit scores or other issues which will eliminate them from consideration by conventional lenders. They also have lower down payment requirements than conventional loans, another advantage to first-time buyers.

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Why Choose The DPA Team at Sterling Realty

The DPA Team at Sterling Realty stands ready to assist first-time homebuyers and others who need assistance with down payments or closing costs. Many first-time buyers have little or no established credit to qualify for conventional financing. We provide a range of services to assist them including:

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