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Buying or Selling a Home/downpayment and closing cost assistance
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Question
Is there any closing cost and down payment assistance for borrowers who are not 1st time buyers and looking to purchasing a new home. I am ten years in on my first home but I am ready to sell and move. I am in Maryland and looking for help, is there any out there? THX
Many home sellers in this market are willing to help with your closing costs and you can make that part of the sales price. As far as downpayment assistance, there aren't any current programs that are available. Some members of Congress are trying to make downpayment assistance programs available to buyers again. Buyers used to be able to use downpayment programs like Nehemiah and Ameridream which enabled the seller to pay the downpayment for the buyer, but those programs were eliminated October 1, 2008.
Many buyers are taking advantage of the FHA loan programs which only require a 3.5% downpayment. The downpayment can also be gifted to you from a friend or relative.
I hope this helps. If you'd like any more information or clarification, just let me know!
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Lisa Webber
Expertise
I can answer questions pertaining to buyers and sellers of residential property in the state of Maryland. I work with first-time buyers, real estate investors, and move-up buyers. I can help with relocation questions as I help people from all over the country move to Maryland. I also work with military families, helping them move to the Ft. Meade area. I am experienced with foreclosures and short sales and can help you keep your home from being foreclosed on until you can sell it. I can help with finding financing through many local experts.
Experience
I've worked with many buyers and sellers of residential property throughout the state of Maryland as well as investors who buy and sell residential and commercial properties.
Education/Credentials
I primarily have studied real estate, business, and marketing and study each of these subjects on a daily basis as they relate to my work. I read real estate books and subscribe to news services to keep current on real estate subjects and trends.
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