GRANTS AND DOWN PAYMENT ASSISTANCE INFORMATION.

WHAT ARE GRANTS/DOWN PAYMENT ASSISTANCE PROGRAMS?

Grants/down payment assistance programs are programs geared towards helping buyers attain homeownership. Certain grants/down payment programs could essentially be "free money" to buy a home. Grants/down payment programs have certain guidelines/requirements.

WHY USE GRANTS/DOWN PAYMENT ASSISTANCE PROGRAMS?

For the next generation of homebuyers, grants and down payment assistance may be the key to homeownership.

In today's real estate market - interest rates are on the rise pushing away affordability for many buyers. Rising interest rates increase monthly payments to buyers along with increasing (drastically) the total amount paid back during the life of the loan in interest.

Luckily - there are many programs available for buyers that can help in the form of grants and down payment assistance. Combining these programs (which some grants/down payment assistance programs allow) could do the following for buyers:

- Reduce the cash-to-close needed for buyers at closing.

- Buy-down the interest rate on a mortgage.

- Reduce the monthly mortgage payment that a buyer would need to make per month.

- Use leftover funds (if allowed by the mortgage & written into the contract) to be reimbursed for pre-paid expense items.

Let's take a look at an example of how grants and down payment assistance can help a buyer:

DISCLOSURE - PLEASE READ

***All information provided on this page is deemed reliable but not guaranteed and is subject to change without notice. Grant funds/down payment assistance have certain requirements. Application for grants does not indicate approval for such grant/down payment assistance programs. 804 Real Estate, LLC is providing the information on grants/down payment assistance as a courtesy and is not involved directly with these programs. 804 Real Estate, LLC is not a mortgage lender. For information regarding mortgage products - contact a mortgage loan officer directly. For more information on the grant programs/down payment assistance that may be available - contact the program administrator directly.***

WHAT ORGANIZATIONS ARE OFFERING GRANT FUNDS AND/OR DOWN PAYMENT ASSISTANCE?

(DISCLOSURE - 804 Real Estate, LLC and it's agents are not affiliated with any of the grant proograms below. All grant information provided is deemed reliable but not guaranteed and is subject to change without notice. Grants have certain requirements that must be met. For more information on the eligibility and/or how to apply for grant assistance - contact the noted grant providers below.).

Housing Opportunities Made Equal of Virginia

Southside Community Development Housing Corporation

Virginia Housing

Department of Housing and Community Development (Virginia)

Home Possible® Income and Property Eligibility Tool...

Get more information on what grants and/or downpayment assistance may be available through Freddie Mac with their map tool!

Go to Freddie Mac Home Possible website

DOWN PAYMENT ASSISTANCE TOOL.

Get more information on what grants and/or downpayment assistance may be available by looking up down payment assistance programs that may be available by property address

Go to Down payment assistance lookup tool

804 Real Estate, LLC is a registered trademark with the united states patent and trademark office (USPTO).

STATISTICS GIVEN ARE AVERAGES BASED ON CVRMLS DATA - INDIVIDUAL RESULTS CAN VARY.