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Here's a quick 2-minute case study to show how downpayment assistance can greatly reduce your out-of-pocket costs for closing on your new home.
Original Cost To Close $14,000
Down Payment (3.5%) $7,000
Closing Cost (Estimated) $7,000
New Cost To Close $7,000
Full Down Payment Assistance of
$7,000 is applied
Final Cost To Close $3,500
Seller Contribution applied -$3,500
1 Family DPA maximum $40,243.87 / 2 Family DPA maximum $51,528.75
Highest Approval Possible
The ability to receive a precommitment certificate through our participating lenders is the most unique and powerful feature of our Home Ownership Plus Advantage program. If eligible here at Now I Can Own, you will have the option of choosing to obtain a precommitment certification. A precommitment certification.Is the highest pre-approval possible and the benefits are unsurpassed. Although most clients qualified, eligibility is determined when your pre qualification is complete. Here's how it works. Your file will be underwritten before your home search begins and a certificate will be issued to you verifying that the lender has committed.Finding your home purchase submitting this type of certification with your offer can significantly increase your chances of winning the bid on highly sought after properties and also gives you the overall competitive edge needed in housing markets which may have a high demand and low inventory of homes to choose from.Typically competing offers in most cases will have only a pre qualification or standard pre approval. So your pre commitment certificate will go very far with separating your offer from other offers which may be on the table.Although this consulting feature is optional, we highly recommend this to our clients looking to purchase in competitive markets where there are not in abundance of properties available to purchase and there are more buyers than sellers. So if you are looking to have a competitive advantage, remember with Now I Can Own, Now You Can.