10/01/2026
😍 I like to show and not just tell...total out of pocket $3500!
Total out of pocket is $3500. It's easy to say there is down payment assistance out there to help you purchase your home. It makes more sense to see the numbers.
🏡 House price, $300,000
DPA 5% of the house price = $15,000 (money to help you)
*half of that may be free grant money with the other half to be repaid in small monthly increments*
Your down payment would be $10,500 which leaves $4,500 to go toward your closing costs.
Your closing costs consist of prepaid taxes and insurance as well as some other fixed fees. Let's add your closing costs with your appraisal fee and inspections...let's say this could be around $15,000
Now let's apply the $4,500 toward your $15,000 that is due and that would leave $11,500. The seller CAN (a lot of times will but not guaranteed it depends on the situation) help with those costs up to $18,000 LEGALLY on an FHA loan. Let's pretend the seller agrees to help with $8000. ➡️That would leave you coming out of pocket with $3,500!⬅️
House payment would be around $2900 ish because taxes, insurance and your small monthly repayment fee for some of that assistance. This can change because this is a hypothetical scenario. This is based on a 7.5% rate for 30 years.
We have used programs exactly like this to help our clients. I cannot help you with these programs if you are out there just trying to find any bank to work with. Most lenders do not know about these programs, do not work with these programs and so forth. There are some great banks that do. Let us help you. Allow me to connect you to these lenders that work with these programs. I am always here to help. Call anytime.
Sarah Faye Bloxham, Owner/Broker of Evolve Realty and Associates
Dave Ramsey Endorsed
405.558.1628
