Key Resources to Help You Secure a Home in the Current Market

A recent report from Realtor.com reveals that 20% of Americans believe homeownership is out of reach. If you feel the same way, you’re not alone. With rising inflation making everyday expenses more costly, saving enough to buy your first home can feel overwhelming. But here’s the good news—with the right tools and guidance, homeownership is still possible.

There are programs and financing options available that can make buying a home achievable, even if your savings are limited or your credit isn’t perfect. Let’s dive into two powerful solutions that could help you get into your first home—regardless of the market.

1. FHA Loans

If your credit score or down payment savings fall short of conventional loan requirements, an FHA loan could be your answer. Backed by the U.S. Department of Housing and Urban Development (HUD) and highlighted by Bankrate, these loans offer:

• Low Down Payments: As little as 3.5% of the home’s price, far below traditional mortgages.
• Flexible Credit Standards: Ideal for buyers whose credit history might disqualify them from conventional financing.

The best way to get started? Connect with a lender who can walk you through your options and determine if you qualify.

2. Homeownership Assistance Programs

If coming up with a down payment feels like a challenge, you’re not out of options. According to Down Payment Resource, there are over 2,000 homeownership assistance programs across the U.S., with more than 75% designed specifically to help with down payments. Here’s why these programs can be a game-changer:

• Financial Assistance: And that’s not a small number.The average benefit is $17,000, which can significantly reduce upfront costs.
• Stackable Programs: In some cases, you can qualify for multiple programs at once, boosting your purchasing power.

As Rob Chrane, CEO of Down Payment Resource, explains:

“These programs aren’t always mutually exclusive. You might qualify for more than one, multiplying your opportunities.”

If you’re ready to explore your options, team up with a trusted real estate agent and lender who can guide you through the process and connect you with the right resources. Your path to homeownership may be closer than you think!

Bottom Line

If you're ready to move beyond uncertainty and take decisive steps toward owning a home, now is the time to act. Partnering with an expert real estate agent and a trusted lender can unlock personalized strategies, demystify the process, and empower you to explore solutions tailored to your unique financial situation. By leveraging their knowledge and resources, you’ll transform questions like “Can I buy a home?” into actionable plans that bring you closer to the keys of your first property. Start today—your path to homeownership begins with a conversation.