Today, I'm joined by Taylor Loop of Movement Mortgage to discuss a great grant program for home buyers. This is free money that you can use for down payment assistance and closing costs. It's an excellent government program that provides 5% for down payments and closing costs for FHA or VA transactions, and 3% down for USDA loans. The requirements are very flexible; this program is not limited to first-time home buyers, and if you sell the property later and move, you're not required to pay it back. The property just has to be your primary residence on the close of escrow.
If you need to refinance your home, you may also be able to use this grant money for some of the costs involved in that. So, if you've been struggling to save up money for your down payment, this program could be perfect for you. If you have any questions, please give me a call. I'd be happy to answer any of your questions, and I can put you in touch with Taylor. We look forward to hearing from you!
"We sold the house and we had a full price offer within twelve hours of listing. When we were getting the house ready Justin actually came over and took care of my dog during showings. He was awesome!" -Jody Weiss, home seller
A lot of people have been asking me lately, "When's the best time of year to buy a home?" My answer is September! Why? For one, there's peak inventory in August. This means there's the highest number of homes available on the market. Another reason why September is a great month for buyers is there's less demand, which means less competition.
Also, interest rates remain historically low. Interest rates still hover around 4%, and you can get more house for your money with these low rates. There are signs that rates may rise soon, so September is a good time to take advantage of the current rates. These factors will probably continue into October. Generally, the winter season is when the buyer has the most power. However, a lot of people take their homes off the market in order to avoid moving during the holidays, which means there's less inventory. All in all, if you're thinking of buying a house, now is the time. If you have any questions, give me a call or send me an email. I look forward to hearing from you!
