When hunting for that first or even second or third home, there are many ways that home buyers can benefit from a little home buyer assistance. Usually provided by many different companies, these benefits, ranging from before you even start searching till after you sign on the dotted line, are there for buyers to take full advantage of when purchasing a home.Check out home buyers for more info.
Sometimes, however, buyers are unaware of what the government and non-profit organizations are offering. Let’s face it – the whole process of purchasing a home can be a little confusing without a guiding hand. As we all know, searching, purchasing, and moving are never easy. In fact, the sheer headache from it all is enough to discourage anyone. That’s why a few companies, in addition to offering down payment and home buyer assistance, have also decided to include moving assistance (by way of additional services or financial discounts) to help those customers who are purchasing a home and now need a hassle-free way to get to their next location. Ultimately, an experienced real estate agent can help you with all of these options. Let’s take a closer look at these benefits so you can better understand what they can do for you once you are ready to begin purchasing a home.
Down Payment Assistance Programs
If you do an online search for ‘home buyer assistance,’ you’ll easily find numerous down payment assistance programs for first time buyers purchasing a home. Non-profit organizations and government agencies have created these home buyer assistance programs to encourage home ownership in constituencies where people might not be able to afford a down payment to get them in a home of their own. These programs assist both buyers (through down payment assistance) and sellers by increasing the number of home buyers, creating demand for homes in the market.
A great example of one of these home buyer assistance programs is Nehemiah, which since 1998, has helped provide over $1 billion in gifts to new home buyers. Nehemiah, the nation’s largest and most trusted non-profit down payment assistance program, helps buyers with a Federal Housing Administration (FHA) loan purchase a home with a $0 down payment as a gift from the organization and possibly $0 in closing costs as well. Buyers utilizing down payment assistance (DPA) represent over 37% of all FHA insured purchase money mortgages.
Using a Qualified Real Estate Agent
Using the resources of a good, experienced real estate agent can be extremely beneficial for the home buyer. Assistance in searching, negotiations, and closing are just a few of the things they can guide you on while in the process of purchasing a home. They listen and understand exactly what their customers’ needs and goals are and proactively look for that ideal home from the thousands on the market. Better yet, they have access to more information and more records than you do as it would require more time to research everything fully and accurately without the help of an agent.
After the perfect home is found, your real estate agent will assist you with the contract offers, negotiations, and closing. These three steps in the home buyer assistance process are of the utmost importance because an inexperienced buyer could commit many mistakes when purchasing a home for the first time. An agent uses that experience to weigh extraneous factors that only people in the industry might be aware of, possibly saving you thousands of dollars when purchasing a home.