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Sign into your accountFirst-time buyers being squeezed out? Actually, we see signs of more buying power.
April 03 2013
Guest contributor Down Payment Resource says:
The Nevada Rural Housing Authority (NRHA) recently highlighted that its Home at Last Access™ program resulted in 438 home sales and $64 million in home loans. That's a lot of new homebuyers and sales for REALTORS®. And, the program more than doubled the amount of home loans from the previous year.
The Home at Last Access program provides down payment and closing cost assistance through a grant equal to four percent of the loan — and, it doesn't require the homeowner to be a first-time homebuyer. It also offers competitive mortgage lending rates through participating lenders on FHA, VA or USDA home mortgages.
What can this local program teach us?