Atlanta Housing (AH) Homeownership DPA Program

Did you know that if you’re looking to buy a house in Atlanta, you might be eligible for some serious cash from the AH Homeownership DPA Program? Like, up to $20,000 serious cash! And if you’re a military service member, veteran, or work in public safety, healthcare, or education, you might be able to qualify for up to $25,000.

Of course, there are some requirements you have to meet, like making no more than 80% of the AMI, completing a homebuyer education program, and being a Georgia resident for at least six months. And you’ve got to either be a first-time homebuyer or not have owned a home in the past three years.

But hey, if you do qualify, you can combine the DPA funds with other homebuyer programs and even better, the loan is totally forgiven after ten years of living in your home. Sweet deal, right? You can find Full program details here on the AH website.

Georgia Department of Community Affairs (DCA) Georgia Dream

One of these programs is the Georgia Dream program, which offers eligible borrowers a DPA loan of up to $10,000 (and up to $12,500 for some special groups like educators and people with disabilities). You can’t have owned a home in the last three years to be eligible, but repeat homebuyers might still qualify in select areas. Full program details can be found on the Georgia Dream website

Invest Atlanta ATL Home Renovation Advantage (AHRA) 

Invest Atlanta’s AHRA program is another great option. You can get up to $10,000 in DPA to cover your down payment and closing costs for a 30-year fixed FHA, VA, or conventional home renovation mortgage loan. And if you’re a current military service member, veteran, or work in public safety, healthcare, or education, you might be able to qualify for even more money with the AH Homeownership DPA Program. Full program details can be found on the Invest Atlanta website.

Atlanta Neighborhood Development Partnership (ANDP) Veterans Program

Finally, the ANDP Veterans Program provides up to $7,500 in homebuyer assistance to honorably discharged veterans, active-duty military personnel, reserve members, guard members, and Gold Star family members. You don’t even have to be a first-time homebuyer to qualify!

Full program details can be found on the ANDP Homes website.

Make sure to check out the full program details on each organization’s website to see if you’re eligible.

Book a call with us to talk about your homebuying journey!

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Silicon Valley Bank collapsed suddenly and now investors are worried if it will cause a broader banking meltdown. However, the US government has stepped in to guarantee customer deposits. This event has created ripple effects across the global financial market. A regional bank called Signature Bank also got closed down, and its deposits were guaranteed by the US federal government.

US President Joe Biden addressed the nation, assuring that our banking system is safe, and they will do whatever necessary to ensure the same. Silicon Valley Bank was the 16th largest commercial bank in America, providing banking services to nearly half of all US venture-backed technology and life science companies. The bank’s assets and deposits tripled in recent years, with a global headcount more than doubling. Silicon Valley Bank failed due to several years of investment in US government bonds during the era of near-zero interest rates.

The Fed’s hiking spree sent borrowing costs higher, forcing companies to draw down on deposits held by Silicon Valley Bank. The bank’s problems were triggered on Wednesday when it announced that it had sold securities at a loss and would sell new shares to plug the hole in its finances. This caused panic among customers who withdrew their money in large numbers, triggering a bank run. US regulators have guaranteed all Silicon Valley Bank customers’ deposits to prevent more bank runs and to help tech companies continue to pay staff and fund their operations.

This intervention does not amount to a bailout, so investors in the company’s stock and bonds will not be protected. There are already some signs of stress at other banks, but analysts believe that US and European banks have much stronger financial buffers now than during the global financial crisis.

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So, if you’re someone who’s been thinking about investing in real estate in 2023, this episode is perfect for you. Henry and I are going to chat about incredibly easy ways to buy your first investment property in the new year. And not only that, but we’re also going to discuss how he plans to scale his portfolio to over 100+ properties in a post pandemic society.

One of the things that I love about Henry is that he’s all about helping people get started in real estate investing, even if they don’t have a lot of money. In fact, he’s going to share some tips on how to buy real estate with low or no money down by leveraging credit unions and community banks.

I know that investing in real estate can seem intimidating at first, but trust me, it’s not as complicated as it may seem. And with Henry’s guidance, you’ll be able to get started on the right foot.

So, sit back, relax, and get ready to learn some amazing tips from Henry Washington. And if you enjoy this episode, be sure to hit that thumbs up button and share it with your friends who might be interested in real estate investing too. Let’s dive in!

Rich Dad Poor Dad By Robert Kiyosaki-https://amzn.to/3m0ihkg
Rental Property Investing By Brandon Turner-https://amzn.to/3lXjngT

Timestamps:
Introduction-1:55
How To Build Your Warchest-4:53
How He Started-9:48
The power of 401k Loans-20:32
Lessons Learned-22:39
Henry’s Current Portfolio- 30:07
Why Henry’s mostly a “Buy & Hold Investor-39:06
Start where you are-47:19
What Henry calls a “good deal”-54:54
The 70% Rule Of Real Estate Investing-1:12:15
Advice To New Investors-1:20:10
Final Thoughts-1:24:50

Shownotes:
Follow Henry on Instagram:
Henry: @thehenrywashington
Website:https://independencerealtygroupnwa.com/
E-course :“ How to finance deals with little to no money out of pocket utilizing small banks!”
Link:https://gum.co/HTfpV
Use the code ‘early’ at checkout to get the course for $30 vs normal price of $50.

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Now, why would anyone want to do this, you might ask? Well, there are a few reasons why this can be a really beneficial option for new home buyers. Firstly, having a lower monthly mortgage payment during those early years can make a huge difference in terms of affordability and financial stability. Imagine, you just bought your first home and all of a sudden, you have a lot of other expenses to cover – furnishings, utilities, maintenance, you name it! So, if you can reduce your monthly mortgage payment, it can ease the financial burden and give you some much-needed breathing room.

And that’s not all! A lower interest rate can also result in a lower total cost of the mortgage over the life of the loan. This means that, even though you’ll be paying a higher monthly payment later on when the buydown period ends, you’ll still end up saving money in the long run. Think about it this way, if you have more money in your pocket each month, you can put it towards paying off other debts, saving for the future, or investing in other things. So, if you’re a new home buyer, an interest rate buydown might be a great option to consider!

The post Beat the System: The Secret to Buying Down Your Interest Rate! appeared first on Marvin Orieh.

This second mortgage can cover a portion of your down payment and closing costs, making homeownership more achievable for those who might have been struggling with the upfront costs. And the best part? You don’t have to pay it back as long as you live in the house as your primary residence for a certain amount of time.

So, not only does this program make buying a home more accessible, but it also helps you build equity in your home faster. Overall, the Chenoa Fund is a great option for first-time homebuyers looking to overcome the down payment challenge.

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As we continue our discussion on the impact of black history in real estate, for today’s blog we discuss an unsung icon in the California real estate market. Biddy Mason was a true boss lady and real estate kingpin who paved the way for AfricanAmerican women in 19th century Los Angeles. Born a slave in Hancock County,Georgia in 1818, she was brought to Cali with the family that owned her shortly after and was finally set free in 1856 after legal battles over the state of freed people in California. With her savings from working as a nurse and midwife, Biddy invested in property and became one of LA’s biggest landowners. But she didn’t just sit on her wealth, she gave back to her community by building a church and founding a school for Black kids.

Biddy’s story is one of determination, resilience and the power of economic empowerment. She showed that with hard work and smarts, anything is possible. And even now, centuries later, she remains a source of pride and inspiration for the African American community, a symbol of hope and strength. So next time you hear the name Biddy Mason, remember the boss lady who paved the way for all of us!

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It’s easy to get caught up in the excitement of homeownership and overspend on a house that’s beyond your budget. This can lead to financial stress and the inability to enjoy your new home.

Before you start shopping, make sure you have a clear idea of what you can afford and stick to your budget. It’s also a good idea to get pre-approved for a mortgage so you know exactly how much you have to work with. This way, you’ll avoid overspending and ensure you can comfortably make your monthly mortgage payments for years to come. We can help you with the entire process.

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If you’re in the market for buying or selling a property, then it’s a good idea to have a realtor by your side. Not only will a realtor have the inside scoop on the current real estate market, but they’ll also be able to help you navigate the process from start to finish. With their years of experience and expertise, they’ll be able to guide you in making informed decisions and negotiate the best deal possible.

Whether you’re a first-time buyer or a seasoned seller, a realtor will ensure that everything goes smoothly and you end up with the best possible outcome. Working with a realtor is especially important if you’re selling a property.

Realtors have a wealth of resources at their disposal to help you market your property, from online listings to open houses. They’ll also be able to price your property correctly and negotiate with potential buyers on your behalf. Not to mention, they’ll handle all the paperwork and logistics, so you can sit back and relax while they handle the nitty-gritty details.

In short, a realtor can take the stress out of the selling process and help you get the most money for your property. So, why go it alone when you can have a realtor in your corner?

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Down payment assistance programs can be a game changer for first-time home buyers. These programs provide financial assistance to help with the initial costs of buying a home, making it more affordable for those who may not have the savings or resources to cover a large down payment. I chat with my friend Gustavo, who is one of the my partner lenders to discuss some of the great options folks may not know about.

You never want to leave money on the table so today’s podcast is filled with tons of actionable nuggets for buyers. This can be especially helpful for those who are struggling to save for a down payment or for those who are trying to buy a home in an expensive market.

The thing is, most people don’t take advantage of these programs. They may not know they exist, or they may think they don’t qualify. But the truth is, there are a lot of different programs out there with different eligibility requirements, so it’s worth checking into.

5 Nationwide Down Payment Programs

1. FHA loans: The Federal Housing Administration (FHA) offers a variety of loan programs that can help first-time home buyers with a down payment as low as 3.5%.
2. USDA loans: The U.S. Department of Agriculture (USDA) offers a loan program for home buyers in rural and suburban areas with no down payment required.
3. VA loans: The Department of Veterans Affairs (VA) offers a loan program for eligible veterans, active-duty service members, and certain surviving spouses with no down payment required.
4. Good Neighbor Next Door program: This program is offered by the Department of Housing and Urban Development (HUD) and provides a 50% discount on the purchase price of a home for certain law enforcement officers, teachers, firefighters, and emergency medical technicians.
5. HomeReady and Home Possible programs: These programs are offered by Fannie Mae and Freddie Mac, respectively, and provide down payment assistance to low- and moderate-income home buyers.

Some programs are specific to certain states or areas, while others are available to anyone who meets certain income or credit requirements. So, it’s worth doing your research and seeing what’s out there. Another reason why people don’t take advantage of these programs is because they think the process is too complicated, but it’s not. Many of the programs are actually really easy to apply for and the steps are simple to follow. Plus, there are a lot of resources available to help you through the process. So, don’t let the fear of the unknown stop you from exploring your options and seeing if a down payment assistance program could help you achieve your dream of homeownership.

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If you were an 80s or 90s kid like I am you have heard of the movie “Soul Food” which had an amazing cast. The plot of the movie centered around what to do with mama’s house after tragedy struck.

One of the main reasons generational wealth can be destroyed after one or two generations is not being educated on the power of real estate. Letting property taxes get out of hand or falling victim to terrible loan products such as reverse mortgages can be avoided.

Mama worked hard for that house and more than likely her parents had to deal with issues like red lining or other forms of housing discrimination.

Don’t let your parents hard fought investment go to waste. Look into creating a family trust where the sole purpose is to take care of repairs as well as keeping the taxes current.

Follow the page for more.

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