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grants_for_first_time_homebuyers [2018/08/06 18:28]
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grants_for_first_time_homebuyers [2018/08/06 18:35] (current)
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**Update August 2018**: **Update August 2018**:
-You may find increasing competition for your first home these days. Confidence in the economy is building, more people are employed and/or are being paid higher wages, and new programs are available to help with down payments. (See the latest updates to Downpayment Assistance). Now there’s another new strategy becoming more common: Buyers tapping their parents’ home equity to get into their own homes. Especially in areas where  all-cash offers and bidding wars are becoming the norm, this option can make your odds much stronger. Of course, you have to have parents with enough equity in their homes along with the willingness to help you out. It can be a pretty sweet deal because typically after the new home purchase closes, the buyer (the child) refinances their new house and is able to pay his or her parents back quite quickly. Of course sellers love it, because they don’t have to depend on a contingency offer. And often the real estate broker is able to help coach the young buyers into how to talk to their parents and explain the whole series of transactions to them.  +You may find increasing competition for your first home these days. Confidence in the economy is building, more people are employed and/or are being paid higher wages, and new programs are available to help with down payments. (See the latest updates to [[down_payment_assistance|Down Payment Assistance]]). Now there’s another new strategy becoming more common: Buyers tapping their parents’ home equity to get into their own homes. Especially in areas where  all-cash offers and bidding wars are becoming the norm, this option can make your odds much stronger. Of course, you have to have parents with enough equity in their homes along with the willingness to help you out. It can be a pretty sweet deal because typically after the new home purchase closes, the buyer (the child) refinances their new house and is able to pay his or her parents back quite quickly. Of course sellers love it, because they don’t have to depend on a contingency offer. And often the real estate broker is able to help coach the young buyers into how to talk to their parents and explain the whole series of transactions to them.  
**Update February 2018** **Update February 2018**
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grants_for_first_time_homebuyers.txt · Last modified: 2018/08/06 18:35 by admin