719.650.8019

facebook logo 2019
LinkedIn logo
yelp logo png
Alignable Logo
Armed Forces Bank logo thumbnail

Down Payment Assistance Programs are not just for First Time Homebuyers

Down Payment Assistance has been available throughout the nation for FHA, Conventional, USDA, and VA buyers for a long time. I still run into Realtors and clients that think Down Payment Assistance (DPA) programs on mortgages are only for first-time homebuyers. This is not true. Down Payment Assistance is available for non-first time homebuyers too. CHFA provides down payment assistance grants and silent seconds for FHA, Conventional, and VA buyers whether or not they are first time homebuyers.

Utilizing Interest Rate Buydowns During a Changing Market

Although Mortgage Interest Rate Buydown programs for home loan financing is nothing new, it has not been widely spoken about for several years as the housing market went bonkers during the pandemic. As interest rates have steadily increased, and the Fed continues to raise interest rates in an effort to cool inflation, in conjunction with the higher listing price of homes for sale, the prospect of financing a home under these conditions may seem infeasible for some and unwise to others. These factors weigh all the more for those who are in the position of trying purchase out of necessity, such as those moving for work. But the market shift toward a Buyer's Market means more negotiating power when making an offer.

So to start, what exactly is an interest rate buydown?

Quick Links

Armed Forces Bank

1 South Tejon Street

Colorado Springs CO 80903

Mobile: 719-650-8019

Email Us Today

Latest News

Down Payment Assistance has been available throughout the nation for FHA, Conventional, USDA, and VA buyers for a long time. I still run into Realtors and clients that think Down Payment Assistance (D...

Quick Contact