What is Down Payment Assistance?

If you’re buying a house for sale in Northern Florida, you may want to look into down payment assistance programs – they can help you get the cash you need to put down on your dream house.

There are more than 2,200 down payment assistance programs in action all over the country, and you could be eligible for one (or more). Down payment assistance comes in the form of grants and gifts you can use to get a home – and one study showed buyers that used it saved an average of $17,766. (Don’t let that number mislead you, though – it includes both the money these buyers saved on a dow payment plus the $11,801 they saved in monthly mortgage payments over the loan’s entire term.)

How Can You Qualify for Down Payment Assistance?

A lot of down payment assistance programs are designed for people with incomes on the lower end of the spectrum. However, there are several for middle-income buyers, too.

Each program has its own requirements, which you’ll have to meet to qualify.

Check out Down Payment Resource, which can help you find programs that you qualify for. And ask your Lake City Realtor® what’s available, too – sometimes agents have the scoop on local and government programs that can help.

Why Use Down Payment Assistance?

If you qualify for down payment assistance, you should almost certainly take advantage of it. The less money you have to come up with on your own – and the less money you have to borrow from the bank – the better!

Are You Buying a Home for Sale in Lake City?

If you’re moving to Lake City, we can help you find the perfect place to live. Call us at 386-243-0124 to tell us what you want from your home and we will begin searching right away.

In the meantime, check out the most popular Lake City home searches by exploring the links below.

What is Down Payment Assistance?