We Can Help with Your Down Payment in Sarasota!
The DPA Team at Sterling Realty wants everyone to own a home. We work with potential homeowners who may not qualify for conventional financing or can’t afford the down payment typically required for mortgages. We have the information about services helping homebuyers get the down payment money they need.
There are different down payment assistance programs. Some are low-interest or no-interest loans, and some are grants. They include:
- VA, FHA, and USDA low-interest rate second mortgages
- Florida State Housing Finance Agency
- Various non-profit agencies
- Housing authorities
- County or city grants or loans
Down payment assistance can come in the form of grants which don’t require repayment, low-interest loans, or second mortgages which don’t require repayment until the house is sold. Most assistance programs require a minimum credit rating of 640 but the DPA Team at Sterling Realty also has programs to assist buyers in ways to improve their credit rating to qualify. If you fall just under the credit rating threshold contact us because we have coaching and other programs to bring your rating up in 3-6 months.
Most down payment programs are tailored to first-time buyers, but not all. If you are a veteran or a public service employee, as an example, there may be programs tailored to help with down payment or closing cost assistance even if you have bought a home in the past. For more information on these programs as a first-time or recurring buyer, call The DPA Team at Sterling Realty at 941-315-5300.