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How Many Down Payment Assistance Programs Does GCA Mortgage Group Have?
Felix, how many down payment assistance mortgage program does Gustan Cho Associates have? I heard GCA Mortgage Group has over 200 down payment assistance programs. Is that correct? Can you please give me the specifics. Much appreciated.
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According to reports, Gustan Cho Associates (GCA Mortgage Group) provides more than 200 down payment assistance programs meant to help aspiring homeowners purchase their dream homes. These programs are designed for different needs and qualifications thereby making it possible for many people to own homes.
GCA Mortgage Group has a wide range of down payment assistance options such as grants and loans which can work with various credit scores, income brackets and property types. For first-time buyers or those who need financial support when purchasing a home again, these initiatives can be used in paying deposits and closing costs among other charges involved in the process of acquiring real estate properties. Every program comes with specific conditions that must be met before one qualifies for them; this includes minimum credit score requirements, income limits based on area median incomes among others such as type of house being bought (s). For instance some require minimum 620+ credits core while others have income caps depending on county there living or number persons staying together . EPM Empowered Down Payment Assistance Program: This forgivable grant equals 3.5% purchase price specifically tailored meet FHA loan requirements. Illinois Housing Development Authority (IHDA) Programs have forgivable second mortgage options available where borrowers need help paying down payments/closing costs – these come with specific rules about maximum allowable incomes relative localities prices houses concerned . They can be accessed from multiple states though not all may apply nationwide due either geographical proximity factors national policy variations between regions within country etcetera; hence it is important that you find out whether they are applicable in your region based on location or individual circumstances . They should be applied through GCA Mortgage Groups approved lenders who will take them Applicants should go through affiliated lenders of GCA Mortgage Group who will walk them through the eligibility process and application for specific funds that suit their needs best.
Pros: These programs can dramatically bring down the amount needed upfront when buying a house thus enabling people with limited savings buy homes.
Cons: Some programs might require payback if certain conditions are not met such as selling within specified period while others may restrict eligibility only to certain types of properties. For more information and finding a suitable program for yourself, contact GCA Mortgage Group directly or visit their official site where they have listed different programs available as at now.