{"id":3061,"date":"2022-06-29T10:00:59","date_gmt":"2022-06-29T10:00:59","guid":{"rendered":"https:\/\/sandpointrealtyidaho.com\/blog\/2022\/06\/homeownership-could-be-in-reach-with-down-payment-assistance-programs\/"},"modified":"2022-06-29T10:00:59","modified_gmt":"2022-06-29T10:00:59","slug":"homeownership-could-be-in-reach-with-down-payment-assistance-programs","status":"publish","type":"post","link":"https:\/\/sandpointrealtyidaho.com\/blog\/2022\/06\/29\/homeownership-could-be-in-reach-with-down-payment-assistance-programs\/","title":{"rendered":"Homeownership Could Be in Reach with Down Payment Assistance Programs"},"content":{"rendered":"\n
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\"Homeownership<\/p>\n

A recent survey<\/a> from Bankrate<\/em> asks prospective buyers to identify the biggest obstacles in their homebuying journey. It found that 36% of those polled said saving for a down payment is one of their primary hurdles to buying a home.<\/span><\/p>\n

If you feel the same way, the good news is there are many down payment assistance programs available that can help you achieve your homeownership goals<\/a>. The key is understanding where to look and learning what options are available. Here\u2019s some information that can help you.<\/p>\n

You Can Qualify Even if You\u2019ve Purchased a Home Before<\/strong><\/h4>\n

There are several misconceptions about down payment assistance programs. For starters, many people believe there\u2019s only assistance available for first-time homebuyers<\/a>. While first-time buyers have many options to explore, repeat buyers have some, too. According to the latest Homeownership Program Index<\/em><\/a> from downpaymentresource.com<\/em>:<\/p>\n

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\u201cIt is a common misconception that homebuyer assistance is only available to first-time homebuyers, however, 38% of homebuyer assistance programs in Q1 2022 did not have a first-time homebuyer requirement.<\/strong>\u201d<\/em><\/p>\n<\/blockquote>\n

That means repeat buyers could qualify for over one-third of the assistance programs available. And if you\u2019re a repeat buyer, you may still be able to take advantage of some first-time homebuyer programs, depending on your personal situation. That\u2019s because downpaymentresource.com <\/em>also notes<\/a> many of the first-time homebuyer programs use the U.S. Department of Housing and Urban Development\u2019s<\/em>\u00a0definition of a first-time homebuyer. Under their definition<\/a>, you could qualify as a first-time buyer if you\u2019re:<\/p>\n