Listen Up! Some Buyers Bring Less Than $1,000 to Closing!

                Let’s Tell the Story of Jane and John

 

 

Jane and John had been renting for years.

Like many first-time buyers, they assumed buying a home would require tens of thousands of dollars upfront. When they first spoke with a lender, they were told they might need close to $19,000 between down payment and closing costs.

That number alone almost stopped them from pursuing homeownership.

But the truth is, the right strategy can completely change the math.

 

 

 

 

                 Understanding Down Payment Assistance

There are several down payment assistance programs available that many buyers don’t even realize exist.

These programs can provide funds to help cover:

• Down payment

• Closing costs

• Sometimes both

Depending on the program and qualification guidelines, the assistance may come in the form of:

• A grant (that does not need to be repaid)

• A forgivable second mortgage

• A deferred loan

Not every lender offers these programs, and not every real estate team knows how to structure transactions using them.

That’s why having the right team matters.

The Power of the Right Lending Strategy

Jane and John were introduced to a lender that specialized in these programs. After reviewing their financial profile, the lender determined they did qualify for assistance, even though another lender initially said they did not.

This is more common than many people realize.

Different lenders offer different loan products and assistance programs, which means the outcome can change simply by working with someone who understands the options.

Negotiation Matters Too

Once Jane and John found the right home, we structured the offer strategically.

In addition to their loan program, we negotiated seller concessions to help cover a portion of their closing costs.

Seller concessions are when the seller agrees to contribute toward the buyer’s closing expenses as part of the purchase agreement.

When done correctly, this can significantly reduce the amount of cash a buyer needs at closing.

The Result

Instead of needing nearly $19,000 to purchase a home, Jane and John ended up bringing less than $1,000 to closing.

That difference changed everything.

Homeownership went from feeling impossible to becoming completely achievable.

The Takeaway

Many buyers assume they need a large amount of cash to purchase a home. In reality, the final number depends on loan programs, available assistance, negotiation strategy, and the right professional guidance.

If you’re thinking about buying a home but believe the upfront cost may be out of reach, it may be worth having a conversation about what options are actually available.

You might be closer than you think.

---

📲 Call or text (336) 567-5843
Brokered by Real Broker, LLC — NCREL #312309
Jessica J. Baldovinos | @JessicaJBRealtor

Book a consultation:
https://calendly.com/jessicajbrealtor