Take a Hand Up to Build Your Future
Home ownership is the strongest tool to build generational wealth, period. Moving from renting to owning allows a person to take control of their living situation, grow equity and have an asset that usually doesn't depreciate in value i.e. a car.  However,  for many home buyers that transition can be challenging due to the amount of down payment dollars needed and closing costs. Luckily,  there are programs available to help buyers at all ends of the financial spectrum make this transition smoother.
Down payment assistance programs or DPA are available through the city, county, state and also from certain lenders. The largest concern raised is usually that it will inhibit a buyers ability to find a home due to additional hoops to jump through for a seller. The reality is that any additional testing,  inspections or guidelines are spelled out very clearly by the agency or lender providing them. Our job as your real estate partner is to be fluent in these programs and ensure that your lender and the listing agent are also comfortable with the steps to success for you.  Every transaction involves a team of people. When we involve down payment assistance, you get a bigger team on your side. Who wouldn't want more advocates when buying a home?
Most programs have income limits based on the median income of the county where the home is located.  Since that standard is set by the federal Housing and Urban Development Department, we don't have to guess what that number is.  Click this link to find out what it is in your county. Additionally, the city of Madison provides information about the Home Buy the American Dream program so you can have a grasp on the requirements. Additional resources can be found on websites of the Home Buyers Round Table of Dane County, Movin' Out of Madison, Wisconsin Housing and Economic Development Authority, and Own It.  
Home ownership can be a reality for all people. Sometimes a hand up is all we need to achieve that goal and begin creating generational wealth. Our team is committed to helping buyers of all financial levels and experience make this a reality. 
Posted by Jake Johnson on


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