There are numerous folks out there who have the monthly means to afford a home mortgage. Sometimes the ability to save enough money for the down payment and what is called closing costs ,which could amount to over$14,000 for a $200,000 home, can be tough to accomplished. Do not let this hinder your quest for home ownership!  Here are two programs that will help with either, or both, down payment assistance and closing costs.

Rural Development Program: www.rurdev.usda.gov. This  programs provides up to 100%  financing  on loans originated by approved lenders. The program eliminates the need of a down payment and mortgage insurance on properties located in eligible rural areas. There is a household income limit in these areas.  Go to the above website to find out more information, or call a realtor to get you started. Home ownership could be within your reach.

C.H.A.P. Clackamas Home Buyer Assistance Program: www.co.clackamas.or.us. the CHAP program can loan up to $14,000 to help qualified first time home buyers pay down payments and closing costs. The loan must first qualify through an approved lender. Please go to the above website or call a realtor to find out if this could be right for you.

Both of these programs allow for the first time home buyer tax credit of $8000.00 So get started or tell someone that you  know that could possibly benefit from this information. Happy house hunting!

Tags: buyer assistance program, down payment assistance, home buyer assistance, rurdev usda gov

This entry was posted on Sunday, December 6th, 2009 at 1:45 pm and is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.