San Francisco | Housing Down Payment Assistance – HUD | Mortgage residential and commercial home loans SF

[sg_popup id=”8″ event=”onload”][/sg_popup]

As home prices continue to appreciate throughout the nation, down payments become harder to make. Housing down payment from HUD may be the answer.

Housing Down Payment Assistance – HUD

One of the biggest financial hurdles to the American Dream of owning a home is the down payment. The magic number with down payments is twenty percent of the value of the home. If you can put down this amount, you avoid expenses such as private mortgage insurance and get a head start on building equity in the property. It can be hard, however, to come up with twenty percent on a home selling for $300,000, to wit, you need $60,000!

Homes can then be purchased through HUD and financed through FHA-approved low interest loans. In addition, HUD offers other services including housing down payment assistance. Although HUD does not offer these directly to the public, it has DAPs in place. A DAP is Downpayment Assistance through Secondary Finance Providers. These providers are backed by HUD and offer no to low interest loans that be used for down payment assistance when it is needed. Instead of financing your home purchase, they finance the down payment required for the purchase.

As you might imagine, financing you down payment in addition to your overall real estate purchase raises some questions. First, should you buying the property in question if you have to pursue both financing options? Owning a home is a great financial move, but you might be biting off more than you can chew by going in this direction. Second, perhaps you should choose a home with a lower price? This double finance situation means you are going to be paying a lot of interest to get into that home. Ultimately, you might regret doing so when you realize you will never see it again.

Housing down payment assistance through HUD can be incredibly useful. In fact, all of the services offered through HUD can greatly assist any potential homebuyers. They offer great, low cost homes and offer assistance to homeowners who are struggling to make the payments on their own home. This service should be taken advantage of when necessary.

Powered by Agent San Francisco – SF San Francisco. All rights reserved.© 2012 Copyright by Agent San Francisco™. All rights reserved. Agent San Francisco is an independent real estate brokerage.
“Agent San Francisco real estate brokerage” is an independent real estate brokerage firm with CaBRE – California Bureau of Real Estate Lic #01173770 and Mortgage Loan Originator MLO – NMLS ID: #1203203 & NMLS ID: #1425778 – Agent San Francisco is equal opportunity housing mortgage broker and
real estate agent that abides by all California Bureau of Real Estate rules and regulations. Agent San Francisco Mortgage Loan originators MLO’s and advertising are in compliance with FTC, U.S. Department of Housing & Urban Development (HUD), Regulation Z [12 CFR §1026.24], Reg CaBRE, Mortgage Acts and Practices — Advertising rule, known as Regulation N – [12 Code of Federal Regulation §§1014 et seq.] – The Federal Trade Commission (FTC) and Consumer Financial Protection Bureau (CFPB).
Licensed and endorsed under California Bureau of Real Estate. (CaBRE)
CaBRE Broker #01173770
Mortgage Loan Originator (MLO) NMLS ID #1425778
Mortgage Loan Originator NMLS ID #1203203
Searches related to residential home and commercial real estate lenders San Francisco
residential home and commercial real estate loans San Francisco
San Francisco residential home refinance and commercial real estate lenders list
largest residential home refinance and commercial real estate lenders San Francisco
residential home refinance and commercial real estate funding San Francisco
residential home refinance and commercial real estate financing San Francisco
residential home refinance and commercial mortgage lenders San Francisco
residential home refinance and business real estate lenders San Francisco
residential home refinance and private commercial real estate lenders San Francisco
Home purchase loans and refinancing