No matter what anyone says, owning real estate is still the most powerful way for families to build wealth and transfer it to the next generation. A lot of people would love to own a home, but can’t afford some of the costs that come with the purchase. 

Well, there is a solution…down payment assistance gifts from family, work or even your church. A lot of people are sitting on equity or cash reserves that could be the perfect down payment assistance gift for first time home buyers. 

This is a great way to put the wealth vehicle that is real estate in motion, and help more people build wealth for themselves. Real estate agents who are knowledgeable about these programs are more likely to win buyers and get paid what they’re worth, which goes a long way right now. 

What should we ask every buyer we talk to? What are some of the pockets of funds first time buyers have access to? In this episode, CRA Residential Loan Officer at Associated Bank, Johnita Herndon shares how buyers can get up to $31,500 in down payment assistance, and all the funds that are available right now. 

If you are purchasing property from a family member, they can actually gift you equity towards that sale. -Johnita Herndon

Things You’ll Learn In This Episode 

• Down payment assistance dos and don’ts 
  When it comes to down payment assistance gifts, every lender and home loan type is different. How do we make sure we meet the requirements?
  
• The gift of homeownership 
  From churches and employers to family members, there are many sources of down payment assistance. How can real estate professionals use this to increase their value proposition and help their communities?
  
• Homeownership is still important
  Our ancestors built their wealth by owning houses. How can we pass this wealth on to the next generation?

Guest Bio

Johnita Herndon is a CRA Residential Loan Officer at Associated Bank, she has over 10 years of banking experience, having served in various capacities within residential lending. Johnita is passionate about working with First Time home buyers, down payment assistance programs, homebuyer education, and rehab/new construction. As a community loan officer, Johnita also works as a liaison to nonprofit organizations that provide homeowner education to low- and moderate-income families. The focus is to create a successful homebuyer through education and counseling. Johnita Grew up on the Westside of Chicago and currently resides in Maywood, IL. Johnita has been a mortgage and loan professional for more than 10 years. Graduating from Olivet Nazarene University with a degree in Economics & Finance. To learn more, call or text 312-401-0702. You can also follow Johnita on Instagram and Facebook.  

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