Real Estate

Neighborhood Housing Services has a Home with Down Payment Assistance for Sale.

 

Would you like to buy a house that is in great condition and has been updated?

Have you thought you might not be able to purchase a renovated home on your salary? Are you one of those hard-working people who has not been able to save a lot of money to buy a home and yet are tired of renting?  Do you live on a limited budget? Did you know there is a program that will allow you to purchase a home with little money out of your pocket? Usually 1% to 1.75% of the purchase price.  Neighborhood Housing Services and Community Action have grant programs for those who qualify.  These grant programs are federally funded assistance programs with the intent of helping low to moderate income families achieve the American Dream of home ownership.. 

The grant program will pay your down payment and closing costs not to exceed a certain dollar amount. Depending on the program, this could be up to $12,750, $14,299 or $40,000.  The grant programs change every year and so the actual dollar amount will most likely change.

Neighborhood Housing Services has some great homes that they rehab as well as some new construction. The homes they rehab are brought up to current code and evaluated so they are a good home for the new buyer. Older homes are tested for lead based paint and remediated as needed.  While not every home gets the same upgrades, you can often expect to see new plumbing, electrical, heat and air, roofs, kitchen cabinets, and counter tops as well as appliances.  These homes are then offered to the general public at a fair value.  The buyer does need to be an owner occupant to purchase these properties with the intention to live there a minimum of 5 years.  They will also need to qualify for the program based on income guidelines per family size.  As of this writing (2017) a single person will need to make $36,050 or less a year, while a family of 4 can make up to $51,500.  If your income is close, please apply.  Sometimes certain types of income are not counted, only the home buyer specialist can tell you for sure.

Currently Neighborhood Housing Service has a fabulous home at 2808 NW 14th Oklahoma City, OK 73107.  The neighborhood has been getting a facelift with several investors updating homes in the area.  This 2 bed, 1 bath home built in 1912 has almost everything new–new drywall, insulation, kitchen cabinets, counter tops, vinyl flooring, carpet, refinished wood flooring, new deck and wood fence, new wiring, plumbing, heat pump HVAC, roof, reworked windows, electric box, hot water tank, and carport.  The improvements in this house would cost the average homeowner a lot of money.  They are done for you and the house is ready to move in.  This house is currently priced at $105,000, with you the buyer receiving up to $14,299 towards down payment assistance and closing costs.

If you are interested in viewing this house or have questions regarding down payment assistance, please feel free to give me, Sandi Walker, a call at 405-213-2992 or visit my website http://www.equityhomesteam.com.

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