Think You Can’t Buy a Home? Think Again! Down Payment Assistance Options for Local Homebuyers

Are you tired of renting and watching your hard-earned money disappear each month? Do you dream of owning a home but feel held back by the upfront costs? You’re not alone, and the good news is—there are down payment assistance programs available that could help make homeownership a reality for you!

At SHG and First Mutual Realty, we specialize in helping renters become homeowners by connecting them with grants, loans, and local assistance programs tailored to their unique situations. Whether you're a young professional, a military veteran, or a growing family, there’s an option for you!

Who Can Benefit From Down Payment Assistance?

Here are some common scenarios where buyers can take advantage of down payment assistance:

1. Young Professionals: Growing Careers, Rising Rent

💼 Meet Scott & Chloe

• Combined income of $85,000

• Paying $1,800/month in rent

• No savings for a down payment

💡 Solution:

• Local Homeownership Programs: Many areas have programs offering grants or low-interest loans to first-time buyers.

• Income-Based Grants: Some cities, universities, and financial institutions provide grants based on income—which means free money to put toward your home!

2. Veterans & Military Families: Special Home Loans Available

🎖 Meet Amal & Marie

• Military veteran family

• Moving to a new city

• Both starting new jobs

💡 Solution:

• VA Home Loans: Veterans can qualify for 0% down loans through the VA, allowing them to purchase a home with little or no upfront costs.

• Down Payment Grants for Veterans: Some states provide special grants for veterans to assist with down payments.

3. Single Professionals: Success Without Savings

💰 Meet Steph

• Income: $65,000

• Rent: $2,300/month

• No savings, but great credit

💡 Solution:

• Zero-Interest Loans: If you have good credit, some lenders allow you to borrow your down payment at 0% interest and pay it off over time.

• FHA Loans: A 3.5% down payment is all you need to qualify for an FHA loan, making homeownership much more accessible.

4. Growing Families: Needing More Space on a Budget

🏡 Meet the Gonzales Family

• Dual-income household

• Minimal savings

• Outgrowing their rental

💡 Solution:

• FHA Loans: With as little as 3.5% down, they can move into a home faster.

• VA or USDA Loans: If eligible, 0% down options could help them buy a home with no upfront cash needed.

How to Buy a Home with Little or No Money Down

🏠 0% Down Programs:

• VA Loans – Available to veterans and active-duty military

• USDA Loans – Available for homes in rural and some suburban areas

• Personal Loans – Borrow down payment funds from a financial institution or a family member

💵 Low Down Payment Options:

• FHA Loans – Only 3.5% down (which can be a gift!)

• Local Homebuyer Grants – Many states and cities offer down payment grants to help cover the upfront costs.

• Mortgage Credit Certificates (MCCs) – Provides a tax benefit that reduces mortgage interest costs.

What You Need to Qualify

While down payment assistance is widely available, you’ll need to meet certain requirements, including:
✅ A stable income
✅ A qualifying credit score
✅ A home within a specific price range
✅ Employment history and location eligibility

The good news? A qualified realtor can help you navigate the options and find the best program for you.

Let’s Open the Door to Your New Home!

Homeownership IS possible, and you don’t have to go through the process alone. Whether you need 0% down financing, FHA loans, or local assistance programs, we’re here to help you find the right fit.

👉 Get Your Down Payment Assistance Guide Here!

Let’s turn your dream of homeownership into reality! 🚪🔑🏡