One of the most common deterrents to first-time home buyers is the lack of a down payment. However, the home loan industry has practically re-created itself in the last ten years, making it easier than ever to obtain a mortgage, and new mortgage programs are always cropping up.

Some states sponsor loan programs that allow buyers to purchase a home without putting any money down. A parent or other relative can guarantee repayment of ten percent of the loan if the buyer defaults. The only cash needed is for the closing costs, which typically run about three percent of the loan. Parents can also give their children down payment help through a personal note or second trust deed. The terms can be set up for monthly payments or annual payments amortized over a period of time. You could pay the interest only, and have the payoff due when the property is sold.

With so many alternatives, doesn't it make sense to call your real estate agent for a free consultation? You may be closer to home ownership than you think.

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The Rice Team
RE/MAX Premier Associates
2500 Weston Road
Suite 103
Weston, Florida 33331
Phone: 954-200-7508
Fax: 954-200-7509
Email: michelle@riceteamrealestate.com

Driving Directions:
* Take i-75 to Exit 15 (Royal Palm Blvd).
* Make a left onto Weston Road.
* Left onto S. Commerce Parkway.
* Immediate left turn.
* Building is on the right.

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