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Buying or Selling a Home/Down Payment Assistance Programs

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Expert: - 4/19/2010


Question
I know someone who is in the process of buying a home.  They are getting a FHA loan.  They need down payment assistance.  Do you know of any agencies or private organizations that can assist?

Answer
Hello Richard,
There are a number of down payment assistance programs.  Many depend on who you are, what your situation is, and where you are so I can't recommend any specific one to you.  The mortgage broker they are working with should have that type of information for their local.  If that mortgage broker doesn't, try someone else. There is a web site http://www.downpaymentsolutions.com/  I don't know how good it is or if it is good at all, but you could try it. Please let me know if it helps as I could us the feedback. If they are in a rural area, I would strongly recommend USDA Rural Development Loans which are available to 100%.
Also I would suggest a web search on down payment assistance with the buyers physical location to see what is available for that area.
I hope this helps and good luck to them.

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Sharon Huneycutt, Realtor, Associate Broker, GRI, e-PRO

Expertise

A lot of people who want to move to the mountains don't really realize what it might involve. For instance, here in North Georgia, if you want a mountain view, you may have to drive up very steep roads. Will you have well water (That's usually good!)? Do you speak septic tanks? Have you considered that if you want really want to get away from it all, you'll do it on a gravel road? What's difference between a Log home and a Log Sided home? How can I tell? Who takes care of the house when you're not there? Where can you stay to check it out? This is a very popular area for second homes and investment properties or when you finally decide to get way from it all, I can find your perfect property. I can answer questions on North Georgia Mountain living, housing, land, amenities, and activities. We handle a lot of foreclosed properties in our office so I have become a Certified REO Specialist. REO means Real Estate Owned and is the industry name for a Foreclosure. It refers to "owned by a bank or other corporate entity". If it involves an area of expertise I don't have, I can probably tell you what kind of an expert you do need.

Experience

We've had property in the Ellijay area for over 10 years. My husband, who is a Civil Engineer and Appraiser, and I built our own log home. We researched log homes and North Georgia for three years before choosing Ellijay. Because of the building experience and being married to an engineer/appraiser, my real estate experience is a bit more extensive than average. I also am an education freak believing that the more you know, the better off you are. My husband and I both like photography, so we drive and hike all over the mountains looking for pictures.

Education/Credentials
MHA, CMA, Licensed Realtor, Associate Broker, e-PRO, GRI, Certified REO Specialist. Realtors are required to have 24 hours of continuing education every 4 years. In the last three years, I have 180 hours so far!

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