1st time home buyers
One of the hardest parts of buying a home is coming up with the down payment. Look no further we can solutions for you if you are thinking of buying a home.
Some home buyers don’t realize that there is down payment assistance for first time home buyers who qualify for first time home buyer grants, also for repeat buyers who are eligible for down payment assistance loans or grants. 1st time home buyers may qualify to receive a down payment loan or grant if you meet the eligibility requirements.
The federal government is here to help first time home buyers, many community, city, county and state agencies offer down payment grants and down payment assistance, some qualification requirements regarding income, assets, credit, occupancy and location are required
Minnesota down payment assistance programs
In Minnesota, the MHFA offers first-time buyer loans for up to $10,000, which can be used for a down payment or closing costs. Borrowers receiving this assistance loan must not have owned in the last three years, have a credit score higher than 640 and meet the income limits. Within the 11-county metro, the home cost is limited to $307,900 and across the state, the home cost limit is $255,500. Homebuyers must also attend homebuyer education classes. Read the full details of the Start Up program for first-time buyers in Minnesota.
If you’ve owned a home in the last three years or currently own a home, you may still qualify for down payment assistance or closing cost assistance. Details on these loans for Minnesota residents can be found here.
Wisconsin down payment assistance programs
In Wisconsin, both first-time buyers and repeat buyers can apply for a WHEDA Easy Close Advantage loan to get funds that can be used for down payment assistance, closing costs or homeowner expenses. Homebuyers who exercise this option must take out a WHEDA Advantage home loan for their mortgage, and meet income and credit standards. Learn more about WHEDA programs here.
Not all properties qualify for down payment assistance grants and programs
contact BoardWalk Premier Realty to find out which homes qualify for 1st time home buyers programs.
We can help direct you to a lender who can get you pre approved and we will start the processing of looking at homes.
There is a lot to know when buying a home we can help guide you thru this process till the end.
Many questions arise during the process of purchasing your first home, and the BoardWalk Premier Realty is here to guide you through.
Buying a home verses renting
When you pay rent instead of a mortgage, your money all goes to the landlord. You can deduct the cost of your mortgage loan interest from your federal income taxes. You can also deduct the property taxes that you pay as a homeowner. When you sell your home, it should be worth more than when you purchased it.
Making the home yours. Changing the paint-carpet-yard ect will build equity but also make you happy coming home.
Pets. No extra pet fees from a management company. Some places do not allow pets.
Call us today.
over 20 years in real estate.