How To Buy A Home, Explained 🏡

With 2021 being perfect for new beginnings, maybe it’s time you looked into buying a home? But where to begin?! 🤯

Real Estate can come off as very intimidating, and people often think buying a home is out of their league, but Bold host David Grasso is to reassure you that it isn’t.

While most homes cost thousands of dollars, there are many ways to make homeownership affordable for you!

A mortgage is a loan specifically for buying property. And right now, interest rates are extremely low which brings down the cost of borrowing money. Oftentimes you might only need to put down 3% of the asking price, and sometimes you might not even need to put down a down payment.

And if you have a low credit score or don’t think you can afford a mortgage, we highly encourage you to take advantage of government programs. One resource popular with first time homeowners is the Federal Housing Administration, or FHA. With an FHA loan you can even purchase and renovate a home with one single mortgage.

You also can look at down payment assistance, and there are more than 2,500 down payment assistance programs across the United States. On average they save buyers more than $17,000! And, search locally. Most programs are at the state, county, or city level.

And what if you’re in a more rural area vs urban? The US Department of Agriculture, or USDA, also offers loans. Just go to their website and see if you apply for a USDA loan.

Is homeownership right for you? Let us know in the comments below!

Subscribe to BOLD TV

Are you ready to be BOLD? Check out our favorite articles:

SAY HI ON SOCIAL:

Instagram, Twitter, and Facebook: @boldtv