In a high cost area like Westchester County, one of the biggest obstacles to home ownership by otherwise qualified buyers is saving for a down payment. With rates so low, it is a shame for some people to be forced to wait to save, only to have rates and affordability negatively affected by the time they have their money saved for the down payment. What most home buyers don’t know is that there are resources available to them for a large choice of programs which may help them buy now instead of waiting, through a variety of assistance programs for down payment, grants and loans for first time buyers, and other assistance for applicants who qualify.
The Down Payment Resource program has a wealth of resources for consumers seeking anything from zero and low down payment mortgages, grants, loans, credit counseling, government programs, and other programs offered by private and non profit organizations.
The Hudson Gateway Association of Realtors has met with officials of Workforce Resource, the organization that has created the program, and instituted a system where we have all listed properties that may qualify marked with a seal to notify agents that this house meets the criteria. The Empire Access MLS therefore has information on all homes listed in Westchester, Putnam, Dutchess, and Bronx Counties that qualify for assistance and grants. The system does not specify what program the home qualifies for until the match is made with the buyer and more scrutiny is given the circumstances.
So what does a buyer do? Well, like any buyer, you contact a broker (like, um, J. Philip Real Estate for example) and find out what program is a fit. Then we match you with qualified properties. Click on the link to get started. All your information is kept confidential.
If you were wondering about buying a home but weren’t sure if you had the down payment or if you qualified somehow, this is a good place to start.