RESOURCES
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BUYER'S $$$ RESOURCE
Do you want to buy a house with $0 down?
Ask your lender about an RD loan. A USDA loan is a mortgage option available to eligible homebuyers that is sponsored by the United States Department of Agriculture to promote homeownership in rural communities. USDA Loans, sometimes called "RD Loans," offer 100% financing options ($0 down) on eligible rural properties. USDAProperties can help you find Eligible Properties throughout the state of Michigan. The size of Michigan is roughly 250,487 square kilometers. USDA defined regions of rural loan ineligibility in Michigan cover 7,332 square kilometers of the state. Only 2.93% of the state is ineligible for traditional USDA home loans.
DOWN PAYMENT & CLOSING COSTS
assistance is available.
The number one obstacle for most homebuyers is the down payment, but help is out there, if you don't qualify for a $0 down USDA loan then ask about the available grants and First Time Home Buyer's programs available. Down Payment Resource connects homebuyers with the down payment help they need and provides tools for housing professionals to help them along the way. Lack of a down payment shouldn’t keep you from owning your own home. Over 2,000 programs in the U.S. help with down payment and closing costs. Our unique platform connects buyers with knowledgeable professionals and the money they need to become homeowners workforce-resource.com
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SELLER CONCESSIONS
When buying a house
you pay closing costs and fees to cover the costs of getting the mortgage. Closing costs usually range from around 3% – 6% of the home price.
In some cases, you may be able to get the seller to pay for some of these closing costs. These are called seller concessions, and they can be a powerful way to save on your closing costs.
Seller concessions can help both the buyer and the seller. For the seller, offering concessions can make their home more attractive to potential buyers, especially in a buyer’s market.
First-time home buyers often underestimate the costs associated with buying a home, so seller concessions are a way to help offset some of those costs and make the home more affordable.
