If you're thinking about purchasing a home, the news is good. That's because interest rates are rising and home sales are slowing. Because of this, many retailers are becoming nervous about sitting on their homes for weeks on end.

Even when you don't have the cash reserves required for a deposit, that doesn't mean you can not turn into a homeowner. That is because there are programs that provide down-payment assistance for potential buyers who are otherwise qualified for a mortgage.

Lately, several charitable organizations have been established to help potential homebuyers giving them the money they need for a down payment. Clicking Dependable Homebuyers Makes Selling a Property in Columbia Easy likely provides tips you might tell your friend. Like, AmeriDream offers down-payment assistance in the form of gift funds, to be utilized toward the purchase of a property. Because these funds come in the form of a surprise, not a loan, they don't need to be repaid.

'We believe that every family in America worthwhile to achieve the dream of homeownership needs to have the ability to accomplish so,' said Ann Ashburn, president and CEO of AmeriDream. 'Our purpose will be to break up the barriers to homeownership by providing down-payment help low- to moderate-income persons and families.'

Homeowners participating in this program can buy a home with zero-percent deposit and/or closing costs. Suppliers, real estate professionals and contractors also benefit from the system, because it escalates the pool of qualified buyers who might be interested in home.

Since its inception six years back, AmeriDream has served approximately 160,000 families become homeowners, many for the first time and over one-third of whom are minority buyers. The pro-gram will come in 4-9 states and the District of Columbia to qualifying homeowners interested in buying a house priced less than the conforming mortgage limit of $417,000.

Registration in AmeriDream's surprise pro-gram needs only two types and participants can use online. A homebuyer must then contact a lender and qualify for financing which allows present funds, and the homebuyer must obtain a home from a builder or vendor who has enrolled his or her home in this program. The home-buyer should distribute, through her or his bank, a gift system program at least twenty four hours before settlement/closing..