Down Payment Hurdles

Down Payment Hurdles

Home ownership percentage has dropped to its lowest rate since 1965. Rates are decent, there's an incredibly strong job market, but renters continue to struggle coming up with a down payment. Rents have gone faster than any other component of the Consumer Price Index, which hasn't helped, student debt payments impact many, and other bills add up. Interestingly, in areas around the nation, a mortgage payment is less expensive than a rent payment. There's general agreement that potential buyers are more than capable of affording a monthly mortgage payment but saving for the down payment is a problem.

EASTERBROOK TEAM gives your buyers a leg up: John and Patty are down payment coaches.  We can assist your buyers with a wide variety of programs to assist them, such as: conventional HomeReady and Home Possible, CalHFA MyHome, ZIP, grant, and more.  We can investigate funds that buyers didn’t even know they had available to them, such as 401K borrowing, gift, and asset conversion.  Get them in front of us and we’ll get them excited about jumping over their home ownership hurdles!