How does the builder benefit by using Newsongs Down Payment Assistance?
By using the Newsong Down Payment Assistance Program, a builder can market a home to a much larger group of prospective buyers than a home that does not utilize the program. There are numerous people who want to buy homes, have the employment and credit to qualify for loans, but do not have the funds necessary to buy homes. Down Payment Assistance can bridge this gap. Typically it can take weeks or even months to sell a home. Most builders are anxious, often reducing their prices and making other concessions in the process of selling their homes. It is common for a builder to negotiate (or drop) the sale price in order to make a sale. Many builders drop their price by 3%, 5% or even more. With Down Payment Assistance most builders are able to obtain full listing price for their homes, and make a sale faster.
