Sellers Can Benefit From Down Payment Assistance Programs

Helping Sellers

Sellers now have a better chance of selling their participating homes faster, and at full asking price. The availability of down payment assistance program grants can increase their pool of potential buyers, and their bottom-line net is comparable to a traditional home sale.

Sellers Net Proceeds will be approximately the same whether or not you utilize down payment assistance, consequently you might as well benefit from the increased marketing abilities and decreased marketing time by offering down payment assistance.

Think about all of the Buyers who purchased homes last year and were within the FHA loan limits for your area. It's probably a somewhat limited number.

Those Buyers:

Have a sound credit history

Qualify for a loan

Have a downpayment and closing costs

Now think about the number of prospects who looked at houses but didn't buy one because they lacked the resources for a down payment. The number is undoubtedly a lot larger. Consider next the number of people who never even started the search for a new home because they didn't have the money. That number is even larger.

Potential Buyers:

Have fair credit

Qualify for a loan

Don't have a downpayment or closing costs

This is where down payment assistance programs help: By creating a larger pool of Buyers and enabling more prospects to buy a home and start living the American Dream.

Increase the pool of potential buyers

Sell your home faster than properties that require a down payment

Make as much money as you would on a traditional sale

A buyer qualifies for down payment assistance by getting approved for any home loan from a lender who accepts grant funds for down payment assistance.

By using down payment assistance as a sales tool, a seller can market a home to a much larger group of prospective buyers than sellers who do not utilize buyer programs. Millions of people want to buy homes, have the income and credit to qualify for loans, but do not have the funds necessary for the down payment and closing costs. Down payment assistance bridges this gap.