Do You Qualify for Downpayment Assistance from Pierce County?
Pierce County
If you are buying a home in Pierce County, and you meet certain qualifications, you may be able to receive money from Pierce County to use as the down payment on a house.
Here’s how it works:
A single mom with 2 kids (household of 3) wants to buy a house. She makes good money, $45,000 a year, and found a townhouse for $150,000 that she would like to buy. She is getting an FHA Loan, which requires a 3.5% down payment of $5250. Since she meets the income guidelines from Pierce County, she would be able to get the $5250 as a loan, at 1%. She would not have to pay back that loan until she sells her house.
This is a GREAT resource for buyers, especially those buying their first home. If you are buying a house in Pierce County and want to look into Downpayment Assistance check with your Mortgage Broker or visit the Pierce County Downpayment Assistance webpage.
Tags: FHA Loans, First Time Homebuyers, Foreclosed Homes in Pierce County, Pierce County Downpayment Assistance
