SHOW ME THE MONEY $$$$
(list of grants and money given by banks)
I constantly try to find resources that provide funds to assist with either down payment, closing costs or renovation loans. There is definitely money out there, and you should know about it!
List of Not-for-Profit Housing Counseling Agencies (Not-for-profits)
- The New York State Non-Profit Housing Counseling Agencies Providing Services to Homeowners in Default and Disclosure provides counseling services and assistance with grants for down payment / closing costs.
- The Down Payment Resource is a pretty cool tool where you could find out what programs are out there based on your location.
Depending on your situation there are also banks and programs that could include no PMI, down payment assistance and the ability to work with certain grants.
I’m familiar with most of these programs. Get in touch with me to find out more detail.
Important REHAB programs
Now you have the opportunity to compete with CASH buyers in order to purchase distressed properties.
It’s very important to work with a loan officer that has experience working with these programs.
SONYMA vs FHA
Don’t get pushed into an FHA loan. SONYMA loans could be a better option for you. Here I summarized the difference between an FHA loan and SONYMA.
SONYMA provides 100% financing - details