Down Payment Assistance creates opportunity for individuals seeking homeownership. Clayton County is committed to assisting home-buyers in search of affordable house. The down payment assistance program provides funds to assist home-buyers with cost associated with purchasing a home in Clayton County.
But what if your income and savings are tied up in retirement accounts, such as 401(K), mutual funds, and other investment accounts? This is somewhat confusing, yet surprisingly simple way to establish your income, and it may be the best strategy for securing your loan.
Purchasing a home is not quite as simple as it looks on television. There are numerous fees and costs associated with the purchase, and, while most are affordable, they add up in total price. Make sure you are prepared by understanding the upfront costs for purchasing a home.
Federal Tax Installment Plans can create issues when you look for a mortgage loan. Because they impact your finances for months or even years, lenders are weary of borrowers who owe money to the IRS, even if it’s structured into routine payments. But if you need a mortgage, there are options.
With a little knowledge, a little math, and a little research, you can have a fairly accurate understanding of how much you will need for a downpayment.