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How to Get 'Free Money' to Purchase a Home

Many homebuyers believe they need to save tens of thousands of dollars to be able to purchase a home. What they may not realize is there are down payment assistance programs that may be able to help.

These programs may provide buyers with money to go toward their down payments and closing costs in the form of grants, forgivable loans, and low-interest loans. They are generally offered by government agencies, non-profit organizations, and even some private companies.

And they’re not just available for first-time buyers.

“Think of it as leveraging someone else’s money so you can make that dream of homeownership come to fruition,” said New American Funding Senior Vice President of Growth and Expansion Mosi Gatling.

Mosi Gatling NMLS# 557166