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Has saving for a down payment, got you down?

The simple mention of the words “down payment” strikes fear in the hearts of many first time homebuyers. Realizing the “American Dream” of homeownership has long been the goal of many people, but the down payment requirement has held them back. Several years ago, during the real estate boom of the early 2000’s, there were many programs and ways to buy a home with little or no “up-front” money. Of course, we all know where that has led us…to a crisis in home foreclosures. However, down payment assistance has long been a viable option for the first time homebuyer, and when handled properly, can help people attain the dream.

Maronda Homes Jacksonville Florida concrete block homes for lessAccording to a recent blog by Tara Nicholle Nelson, a broker in the San Francisco area on, there are still opportunities in this area. In her blog, entitled “5 Secret Sources of Down Payment Money”, she lists possible sources for down payment assistance. Some of these include local government programs, your employer, parents/relatives, budget evaluation and even borrowing against your assets. The city of Jacksonville, Florida, for example, has a program called “Head Start to Homeownership” (H2H), that offers up to $15,000 in down payment and closing cost assistance to eligible families/individuals who are interested in buying a home.  Another popular program available is certain areas is the USDA Rural Development Guaranteed Housing Loan Program, which provides up to 100% financing for qualified buyers.  These opportunities and others are helping first time homebuyers take advantage of historically low home prices and interest rates.

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Currently the Freddie Mac Weekly Primary Mortgage Market Survey Rate on a 30 year fixed mortgage is 3.83%, one of the lowest rates in over 40 years. Along with home prices hovering around 2003 levels, the opportunity to own a home has never been more affordable. These historic prices and rates, coupled with down payment assistance, can be just what the first time homebuyer needs to attain their goals of homeownership.

Maronda Homes has long been a champion of the first time homebuyer. Since 1972, they have been building quality affordable homes in Florida, Georgia, Pennsylvania, Ohio, and Kentucky. These homes have offered an “Easily Observable Better Value” to homebuyers by providing “more home for less money”, while delivering a quality product specifically designed to optimize energy efficiency and low maintenance. Its signature concrete block homes offer strength and durability as well as provide savings on energy and insurance costs. Maronda has always been on the cutting edge of technology in its design and integrated material purchasing and distribution systems.Block homes Jacksonville Florida by Maronda Homes

Maronda Homes has also been popular with first time homebuyers because of its ability to help its customers obtain affordable financing and down payment assistance. Maronda Homes is a fully accredited and approved FHA, VA, and USDA builder. It’s relationships with lenders who offer many of these loan programs have made this possible.

If you are considering a new home purchase and do not think you can because you do not have the down payment, stop into one of Maronda’s sales centers today. They have licensed real estate agents on staff as well as licensed loan officers available to help you get started.

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