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Grant Program Gives Home Buyers Down Payment Money
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Added: 04/24/2004
Type: Summary
Viewed: 966 time(s)
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Grant Program Gives Home Buyers Down Payment Money
A Perry resident is concerned about the rising costs of home ownership making it more and more difficult for a large segment of the population to buy a home, because large down payment requirements often prevent them from doing so.
“We want to help as many people as possible move from apartment living to home ownership, sooner rather than later,” explained Camie Larson, founder of IntegraLoan.com. Larson owns a local business that helps people receive a grant to pay the down payment on a new home. Although she is located in Perry, she has been helping home buyers throughout Utah, Montana, Colorado, and Idaho.
“We have been trying for four years to save enough for a down payment, but we just never seem to accumulate enough,” said Neil Buckley, 37, a typical comment heard from many who struggle to buy a new home today.
“We got married four years ago and thought we’d be out of our apartment by now, but now due to unforeseen circumstances it’s even harder,” said his wife, Heidi Buckley, 29.
The Buckley’s are like many young couples today. They are actually paying more per month in rent than what it would cost for a mortgage payment, so there is no question that they can afford to own a home. Their problem is that they have not been able to save for the down payment and closing costs.
“Getting a grant that does not have to be repaid is a great help to people who just would not be able to get out of renting and into home ownership,” said Larson.
The grant program complies with the guidelines for down payment assistance programs as defined by the FHA and conventional lenders. This means buyers can purchase a new home right away.
“We have found a large source of grants that can be used for down payments for first-time and non first time home buyers. These funds are provided strictly as a grant, which is like a gift. It never has to be repaid,” said Larson.
Buyers must apply for a mortgage and meet all the regular credit and other qualifications, but now they do not have to worry about the down payment. The grant does not enable them to qualify for a larger mortgage, nor does it eliminate credit problems, but it simply provides a cash grant equal to the amount needed to pay the required down payment for the house.
The grant funds are currently available, but the marketplace is always changing, so Larson recommends that home buyers contact her immediately while they still can.
“You do not have to have a house lined up yet. It is a good idea to take care of the grant and your mortgage loan first so you know exactly how much house you can afford to look for. When you tell a seller that you have a pre-approved loan and you are ready to buy you will have a tremendous advantage,” said Larson.
IntegraLoan.com provides both mortgages and grants to qualified first time and non first time home buyers.
The grant program is currently available to home buyers in Utah, Colorado, Montana, and Idaho. Interested buyers should visit IntegraLoan.com or call (800) 924-6424.
Contact
Camie Larson, 800-924-6424
http://IntegraLoan.com
David M. Bresnahan, 801-562-5362
http://ThatPRGuy.com |
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