You want to buy a house, but you don't have enough money for the down payment. Sound familiar?
Each year we talk to dozens of people who have excellent income and want to move out of renting and into a home of their own, but they lack the funds needed to get a mortgage.
Recently, there have been several options pop up that offer Down Payment Assistance to buyers who qualify.
One program in particular is being offered by Kentuckiana Mortgage Group. We spoke with local mortgage expert, Brad Sea of Kentuckiana Mortgage Group, who gave us the details. Take a listen:
One unique thing to Kentuckiana Mortgage Group's program is that it is a grant and it's forgivable from day one.
As Brad said in the video, many of the Down Payment Assistance programs we see are actually loans that are forgivable over a period of years. If the house is sold prior to the term, then the homeowner could be on the hook for paying the remaining balance back.
This program is different in that the money can be used for your down payment and it doesn't require a "holding period" that could come back to bite you down the road.
If you have questions on this program or other mortgage options that may be available, please reach out to us at 812Living@gmail.com . We'd love to answer your questions and help connect you with Kentuckiana Mortgage to see if you qualify.
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