Learn How to Buy a Home in Woonsocket For No Money Down
Want to learn how to buy a home in Woonsocket for no money down, and not sure where to start? If you’re entering the housing market for the first time, you may not know about all the resources available to you. This includes financial assistance options that can help you buy a home for either little or no money down.
In this post, our team at Your Home Sold Guaranteed Realty – The Nathan Clark Team will discuss two options for down payment assistance programs. For more in-depth information, be sure to read our guide, “How to Buy a Home With Little Or No Money Down.” You can download it for free by filling out the form below.
How Can First-Time Home Buyers Get Down Payment Assistance?
First-time home buyers in particular often have a much harder time being able to afford the down payment for a new home. Down payments can be as much as $10,000 to $20,000, which is expensive when you have to pay rent at the same time.
When down payments can be as high as $10,000 or $20,000, it only makes sense to consider financial assistance programs.
By applying for down payment assistance programs in your area, you can make it possible to buy a home in Woonsocket for no money down, or a discounted amount.
Even if you currently live in a home, you may still qualify as a first-time home buyer as long as your name isn’t actually on the deed. For example, the house may be in a spouse’s or parent’s name. Be sure to ask your realtor to see what you qualify for.
Ultimately, the best way to find out what you qualify for is by consulting with an experienced realtor in Woonsocket, Rhode Island. Realtors are knowledgeable about down payment assistance programs in the area.
How Can Veterans Get Down Payment Assistance?
Another option to buy a home in Woonsocket for no money down is if you’re a veteran. VA home loans offer down payment assistance to eligible veterans. To qualify, you may need to meet one of several requirements. These include:
- 90 consecutive days of active service during wartime
- 181 consecutive days of active service during peacetime
- More than six years in the National Guard or Reserves or at least 90 days under Title 32 orders, with at least 30 of those days being consecutive.
There are also other scenarios where you might qualify for a VA home loan. For example, if you:
- Were discharged from the service connected to a disability
- Are the spouse of a service member who died in the line of duty
- Have a disability from a service-related injury
In addition to service qualifications, keep in mind that traditional financial requirements may be in place, such as a good credit score. Be sure to check with your local VA office to see what the exact requirements are in your area.
Our Team Can Help You Buy With No Money Down in Woonsocket
To learn more about how to buy a home in Woonsocket for no money down, be sure to read our free guide on “How To Buy A Home With Little Or No Money Down.”
And when you’re ready to take the next steps in the home-buying process, our award-winning real estate team at Your Home Sold Guaranteed – The Nathan Clark Team can help. We have years of experience helping home buyers purchase a home for little to no money down.
On top of that, we offer several buyer’s guarantees, such as our Buyer Protection Plan, that make the home buying process as easy and risk-free as possible.
Our proven track record of results speaks for itself– but don’t take our word for it. Check out what people are saying about our real estate team here.
To learn more about working with us, or to download our free guide, give us a call at 401-288-3557 or fill out the form below. Get ready to start packing!