First Time Home Buyers Down Payment Assistance Program Offered By The State of Kansas

OLATHE, Kan. - Jan. 14, 2014 - PRLog -- Thinking of Buying your First Home?

On January 27th the State of Kansas is rolling out a 4% Cash Assistance program for First Time Homebuyers. If you live in the counties of Johnson, Douglas, Leavenworth, Wyandotte or any other county in the state you could be eligible for this program.

Today, most loans require a minimum of a 5% down payment. If the purchase price on a home is $150,000.00 the amount required for the down payment would be $7,500.00. With the 4% assistance offered by the State of Kansas your savings would be $6,000.00! The estimated funds required for down payment would be approximately $1,500.00. This Cash Assistance program requires a 30 year fixed rate mortgage to be used which could include FHA, VA and/or USDA Rural Development Loans.

The Borrower will still need to come up with the funds for Closing Costs and Pre-Paids. In some instances these costs can be negotiated with the seller to reduce the amount of funds the borrower needs to bring to closing. The borrower will also have the costs for inspections to consider. However, they are still saving the 4% or $6,000.00 in the above scenario when purchasing their first home.

If you are considering the USDA Rural Development Loan to purchase your home then you will want to consider the opportunity you have with this program. As you know, with a USDA loan, the down payment is $0.00. You will be able to apply the 4% to your closing costs. This makes it very affordable for you to purchase a home. For more information contact us immediately at 913-538-5964!

There are certain borrower qualifications that need to be met. You must have qualifying credit scores, you must be a First Time Home Buyer, you must meet income guidelines and you must not exceed the purchase price limit. (Other restrictions apply)

Properties that qualify for the Borrower Cash Assistance program are: Single Family Detached Homes, Duplex (one unit has to be owner occupied), Semi-Detached Homes, Condominiums, Town Homes, or Qualified Manufactured Homes on a permanent foundation.

A specific amount of funds have been designated for this program. Once the funds are gone the program will no longer be available! Don't wait to contact us today at 913-538-5964!

The Brust Group at Keller Williams Realty Diamond Partners is one of the first ones to extend this offer to current buyers in the marketplace. If you are considering buying a home, The Brust Group has partnered with lenders that have been approved to administer this program to fully understand what this program is about, how it works, and how it can benefit the First Time Home Buyer.

For more information on this program and other loan programs, including the No Money Down USDA Loan please contact The Brust Group at 913-539-5964.

To search for your new home go to: http://www.searchKCmetrohomes.com

To find out your homes' value go to: http://www.KCmetrohomevalues.com

*Certain requirements apply and this program may not apply to everyone