Is lack of enough money for a down payment holding you back from buying a home? It is possible to buy even if you don't have a big down payment. Most people don't realize that federal, state and local governments provide hundreds of millions of dollars to help homebuyers.
DOWN PAYMENT RESOURCE is an online service offered through our Twin Cities regional MLS system that helps you tap into those funds by identifying down payment assistance programs that may be available for a specific property… then helping you determine if you are eligible for the programs.
When your REALTOR emails property listings to you, the DPR symbol is displayed next to properties which may be eligible for down payment assistance. Clicking on the symbol will display programs for which you could be potentially eligible if you were to purchase that home.
To find out if you qualify for the assistance programs, here is some of the information required…
- Property location
- Foreclosure?
- Sales price
- Household size
- Annual gross household income
- Buyer ownership history
- Incentives for occupations: educator, protector, fireman, healthcare worker, veteran
- Disability?
- Army or Air National Guard?
- Surviving military spouse?
- Energy efficient or handicap visitable home?
This tool isn't an application or approval for any programs, but it can help by letting you know of down payment assistance programs that are available, and those for which you may qualify based on the information you provide about yourself.
Sharlene Hensrud, RE/MAX Results – Email – First-Time Homebuyer Realtor