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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  August 20, 2009  |   State, Local Programs Can Build Your Business
Today's economic challenges make it a perfect time to learn aboutand generate incremental business fromaffordable homeownership programs, say real estate pros who have used state, local, and federal programs to help clients buy.

State housing finance agencies offer below-market interest-rate loans, as do many local agencies. Downpayment and closing cost assistance are also available. And, of course, there are the many federal programs, including those offered by the Rural Housing Service (a part of the U.S. Department of Agriculture) and the Department of Veterans Affairs. FHA programs are already widely familiar.

All of these programs come with eligibility criteria, but what many practitioners don't realize is that a surprisingly broad range of households can qualify for them. It's not just low-income households.

What's more, processing times are not much longer than for conventional financing, especially today, since lenders are taking longer than ever to process loan applications even for applicants in the strongest credit position.

To help real estate pros learn how to genreate incremental business helping households tap public homeownership programs, REALTOR® Magazine and Bank of America are offering a free Webinar on Thursday, Sept. 17, at 3 p.m. Eastern Time. The Webinar is called Tap Into a Growth Niche: Responsible, Affordable Homeownership.

Register today.

Source: REALTOR® Magazine Online

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