A fast growing availability of gifts is emerging. Local governments and charities are helping those who cannot afford to buy a home because they lack a down payment. These programs are not just for low-income borrowers.
There are special programs available in some areas for police officers, firefighters, teachers, and others. Many local governments have decided that people with these jobs benefit the community and have made money available to them to buy homes.
You can review down payment gifts by typing “down payment” into any search engine. If you do not have a computer, your local library generally has one for public use. Before agreeing to anything, check with your real estate agent, lender, and local government for gifts that you may be qualified to receive. These programs are often local in nature or specific to certain members of the community, so you need to check in your own area. Beware of companies that advertise that they will find a gift for you, as they may charge you to find the gift that you could easily find yourself.