Keller Williams Real Estate Market Information

Financing Solutions with David Reed

Government Grants

For first-time buyers, often the first thought that comes to mind is, "I need a down payment." This is often followed by the question, "Now, where do I get that down payment?"Depending upon the loan type, a home mortgage typically requires 3 to 5 percent down. If you have the money, then you’re set. But what if you don’t? What if you’re renting? You can afford a mortgage within your means, but coming up with the down payment money needed to begin the transaction can be challenging. So, where can you turn?

One of the most overlooked sources of down payment funds is likely right under your nose—in the form of government bonds and local grant programs.

These programs either provide outright monetary grants for down payment or money to buyers in the form of a forgivable loan. In essence, the government will help you buy your home and you typically only have to pay back the money if and when you sell that same property.

In the past it was challenging to find these special programs, but now all you need is your agent, a computer, an Internet connection, and a search portal such as Google or Yahoo. Enter the search terms "down payment assistance (followed by your city, state or province)" and see what pops up! It might just be the answer to helping you buy your first home.

Written by David Reed, author of Mortgage 101 and Mortgage Confidential.

Step by Step…

The Buying Process





The First Step…

In the home buying process is to find an experienced Realtor that you can trust and sign a Buyer’s Agent Agreement.  This guarantees, by the laws of the state, that your needs are met professionally and represented throughout the entire process of buying your home.




The Next Step…

Is to look at various homes.  Your Buyer Agent is available at anytime to help you find your dream HOME.





Be Careful – This is a BIG Step…

When you find your dream home, you should present a competitive offer immediately.  Your Agent has extensive experience in contract negotiations.   They will ensure you get just what you want for a fair price – a transaction in your best interest.





We’re Starting to Jog Now …

When the seller accepts your offer, you “go under contract.”  You want to make sure every detail is handled accurately and immediately.  Your Buyer Agent will ensure your home closes properly and on time.




You’re on the “HOME” Stretch!

Final details are handled and inspections are performed to ensure the property is “perfect” for you.  Contract details are further negotiated, and we head to closing!



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The Next Step Will Be Into Your New Home…

Be prepared to bring you’re a certified check to the closing procedure – the next steps you will take will be over the threshold of your new home!



"To leave satisfied you must arrive prepared."

Contact us to talk with a buyer's agent and obtain your home buyer's toolkit. Open it up, take a look around, and if you like, start equipping yourself with the tools necessary to make your best purchase. In most businesses, knowledge equals power, and real estate is certainly no exception.

The real estate market in Ann Arbor is certainly volatile, and all of the information about buying a home can be overwhelming. I can help.

Buyers01.jpgWhen you're ready to act, contact me.

I fight on behalf of my buyers.
I negotiate the absolute best price.
I protect you.
I simplify your transaction for you as much as possible.

I look forward to working with you.

Thanks for stopping by,