 TITLE: How to Get Down Payment Assistance CONTENT: Pros and Cons of Down Payment Assistance\n----------------------------------------\nThe biggest pro of getting down payment assistance is the possibility of receiving free money or low-cost financing to help offset the expense of a large down payment. Interest rates on down payment assistance loans can be as low as 0%, and the debt may even be forgiven in certain instances.\nThere aren't too many downsides to getting down payment assistance, although there are some things to consider:\n*   Many programs might require you to attend an educational homebuyer class or workshop to be eligible for funding, adding extra time in the homebuying process.\n*   If you get down payment assistance in the form of a second mortgage, you may have to repay it if you move, sell your home or refinance your primary mortgage loan.\n*   Some programs have sales price limits, meaning you can only buy a home in a specific price range. Depending on where in the U.S. you live—especially if you live in a more expensive area—this could limit your choices in homes. END