Down Payment Assistance In Oakland.Thousands of home owners are losing their homes because adjustable mortgage rates have adjusted upward and caused increases of monthly mortgage payments so high that the affected home owners just can't make the payments. While it is unfortunate that many home owners are losing their homes, the opposite and upside effect is that the real estate market is now a boom for the first time home buyer.
Mortgage interest rates are still low and banks and real estate lending institutions have 30-40 year fixed loans for home buyers. 1. Use government grants and loans for down payment assistance.
This unique program is ideally suited for the first time home buyer. 2. Use non-profit agency down payment assistance.
Another little known, but long existing opportunity for first time home buyers to acquire help with down payment assistance is the numerous numbers of non-profit agencies around the country that provide free down payment assistance to home buyers.
