So How Much Money Do You Need To Buy A Home Anyways?

If you want to buy in Columbus, Ohio, they have some great programs! Did you know that you can purchase a home with free money from the City of Columbus for as low as $500? Let me say that again since it may have been a typo. Yes, $500.00 down payment! You can't even rent an apartment with that low money down!

Of course you will have to put up with those annoying Ohio State fans, unless you are a Buckeye fan yourself! The we do have Blue Jackets, but not the kind that sting. Yes, it does snow here from time to time but not too bad.

Can everyone get a home with $500 down payment. Well, no not everyone. You have to qualify with income standards. You have to make below the median income based on family size, so the program is not for people with lots of money but you will be surprised how lenient the program is. And you have to live in the house for the next 5 years or you may have to pay the money back. And the house needs to be in Columbus, and in certain locations so many of the upscale neighborhoods may not qualify but there are still many great homes in many great neighborhoods that qualify.

So how does it work? Well, you get a grant from the City of Columbus for up to $5000 or 6% of the homes purchase price to use for the down payment or closing costs and you only need $500 of your own money. You have to go to a homeownership class to learn about owning a home, and you have to live in the house for 5 years, so the program is not open for investors. You do not need to be a first time homebuyer, either, but if you are you can combine some of the first time homebuyer programs as well.

Interested? Give me a call and I can start you on your way towards homeownership for only $500 down! You don't even need perfect credit! So before you send in one more rent check, shouldn't you check into being a homeowner?