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10 Hot Markets With the Most Down Payment Help
You know the real estate drill: Location, location, location. Unfortunately, in some of the nation’s top locations, buyers feel priced out due to rising home prices…and rising down payments. Is it time to pack up and find a more affordable location? Maybe not.
We worked with Realtor.com to rank 10 pricey metro areas where you can get the most down payment help. Many buyers aren’t aware that there programs such as grants, forgivable loans and even tax credits that can help you save a bundle on your down payment and closing costs.
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Can you explain down payments to your clients?
In a market where first-time homebuyers consistently cite the down payment as their no. 1 challenge, there’s a battle brewing behind the scenes — a fight to preserve the wide range of down payment programs that propel scores of new buyers into homeownership.
More real estate professionals are trying to reach first-time homebuyers — many of whom may qualify for down payment help. You may wonder: Where does the money come from? How do the programs work? Can my clients benefit? We break it all down for you.
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7 Things All Homebuyers Should Know About Homeownership
We know the vast majority of buyers (92 percent!) use online search at some point in their home buying process. But, do your buyers understand these 7 key facts about homeownership?
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Why the Highest Offer is Not Always Best
 Do your buyers and sellers believe they need the highest to compete? We have some good news: perception is not necessarily reality. In fact, according to a recent Redfin survey, a majority of agents (61%) are advising sellers that the highest offer is not necessarily the best.
Redfin real estate agent Roddy de la Garza said, “One major piece of advice I always give to sellers is that the highest offer is not necessarily the best. You have to look at the whole package. If a buyer has a low down payment but comes in with a fully pre-approved and underwritten loan, that’s just as good as cash.”
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Guest blog posts
Do you enjoy the Down Payment Resource blog? Do you have an area of expertise that our homebuyer readers would find valuable? Check out our new guest blog guidelines to find out how to submit your post to us.
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