🤯 The Power of Down Payment Assistance!

[Kyle Curtin]

💸 Down payment assistance can be an extremely powerful tool when applied in the right situation! There are certain loan programs out there that offer DP assistance (ex. Mass Housing) and it is often structured as a "second loan" that you pay in addition to your PITI over a certain time period.

✅ In order to be eligible for these types of down payment assistance, there will likely be specific area income limits that you need to fall under, you may be required to be a first time home buyer, and a few other criteria etc.

🗺️ There are also down payment assistance programs that some cities themselves offer to incentivize folks to move into those markets. Some of the biggest incentives are in cities called “gateway cities”! Google “down payment assistance Lowell (or your target market)” to check out a few of them!

🏘️ This can be an excellent way to jump into your first property (especially a househack) for a smaller $$$ out pocket if the situation fits and the numbers work! Talk to your lender and see if this is a tool that you can put to work!

Have you used DP assistance to purchase your first property? 🤔

Merry Christmas guys! 🎄😁

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