The Lowdown on Down Payment Assistance

One of the most common reasons people are hesitant to become a homeowner is the large price tag. Buying a home is a huge investment in your future and your family and is more attainable than you think. Did you know that there are programs that exist for homebuyers who need some help coming up with a down payment?

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Summit Funding offers a number of down payment assistance programs to help our clients buy the home of their dreams. These programs are designed with buyers of all kinds in mind and offer low-interest loans to assist with your down payment and closing costs, or grants that don’t need to be repaid.

Many of these programs help low-income to mid-income borrowers, although the same rules still apply. You must qualify for the mortgage with good credit scores and your debt-to-income ratios, which are all things a loan officer can review with you.

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Down payment assistance programs vary by state and sometimes, city or county. To get the most up-to-date and accurate information about the programs Summit offers, get started with one of our loan officers. They will be able to offer their knowledge and expertise of Summit’s loan products and programs to find the best one that fits you and your family.

Get on the path to homeownership with Summit Funding here.