In today’s economy, it is harder than ever to afford a new home, especially if like so many, you have been hit hard by the recession.
The housing market has taken a huge hit too though, and some of the low prices you see on new homes can look incredibly appealing.
If there were ever a time to buy at rock bottom prices, it is now. But how can you afford to buy at rock bottom prices when you yourself don’t have a lot of money?
In today's market, home buyers who need down payment assistance have two primary options. The first is to borrow the down payment in the form of a grant, and the second is to ask the home seller to provide the down payment amount.
The first method applies mainly to first time home buyers, who can often find sources willing to grant the down payment amount at a lower interest rate than a bank loan.