DOWNPAYMENT HELP FOR FIRST TIME HOMEBUYERS

Water, water everywhere but not a drop to drink.

If you're a first time home buyer, you might be able to sympathize with this statement. Thanks to the recent economic recession, there is no shortage of affordable homes, yet due to the mortgage crisis, lending has become tight. Prior to 2007, putting no down payment on a home was a common option for first time homebuyers. However, with mortgage lending practices coming under fire in recent years, the option to finance 100 percent has lost popularity. In today's market, a typical down payment can range anywhere from 3.5 to 20 percent; however, in this economy, few people have that much cash available to them.

Fortunately, there are ways to receive down payment help for first time home buyers. Gwinnett County has a grant program available for first time homebuyers using FHA financing who meet certain income guidelines.

For more information 770.736.1950 DiVarner@live.com www.searchlawrencevilleareahomes.com