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DCHA HOMEOWNERSHIP DOWNPAYMENT ASSISTANCE PROGRAM

The Dane County Housing Authority, (DCHA), offers interest-free, deferred, Down Payment and Closing Cost loans to income-eligible, first-time-home-buyers. Loans are available on a first come, first serve basis as funds are available. The DCHA Down Payment and Closing Cost Loan Program is a gap financing program for income-eligible first time home buyers providing up to $12,000 per transaction in the form of a zero interest, deferred payment loan.

TO QUALIFY
Household must be first time homebuyers purchasing in Dane County, outside the city of Madison. First time homebuyer is defined as never owning a home or not owning in the last three years.

Home must be owner-occupied in the form of a single-family home, ½ duplex, townhome or condominium. Income property is not allowed for this assistance.

Household income may not exceed 80% of County Median Income.

Borrower must bring a minimum of one percent (1%) of the purchase price from their own funds to the transaction.

Maximum purchase price is $223,250.

Processing time is approximately 20 days from the date of commitment.

Household members who will be listed on the mortgage documents that are accessing the DCHA program, will be required to complete homebuyer education and counseling through an approved source. Buyers can either take a DCHA First Time Home Buyer Course or another DCHA-approved program can be substituted as needed.

NON-PARTICIPATING MUNICIPALITIES 
Cities:
Madison, Maple Bluff

Villages:
Cottage Grove, Dane, Mazomanie

For more information, including income limits, please visit their website at:

http://www.dcha.net/housingcenter/down-payment-assistance.php

Need help finding the perfect home? We would love to help! Take a moment to fill out the home buyer questionnaire below:

My Next Home

I am new to ShortSaleSuperstars. I have used it as a reference a few times and known about the site for over 6 months, but just decided last week that I need to get involved more with internet blogging for my real estate business. Since I specialize in negotiatiing short sales, I thought it important that I join networks online that pertain to short sales. It looks like this is the best there is, so I am diving in :) - I will do my best to comment on as many questions and forum posts as I can, and I would hope that people would reach out to me with their short sale issues. I love helping other agents get their deals approved, at great terms, and with full commissions. Lately, I have been getting 8% on most of my short sales. While most agents would probably tell you that this cannot be done, or isn't legal, it simply requires some knowledge and information. Anyways, on to the topic of my first post....

While attending a short sale seminar in Las Vegas last week(shoutout to ShortSaleGenius and Trent Chapman), I observed that many agent's/negotiator's questions all sounded very similar:

"I have this weird short sale...."

OR

"I know but the bank told me....."

ETC.....

The solution to almost every single question is the same, ESCALATE! More specifically, get the RIGHT message to the RIGHT person at the bank.

It is always about the numbers. Getting the right message to the right person will mean you are going to very "high-up management." When you get to this level at any bank, the mind-set of the person who are communicating with is solely about the numbers. They want to know what the value is and what is their net. If you have run the comps and you know that your value is in line, then you simply need to get the message to the right person, and explain to them that they will lose a lot more money if they foreclose on the property instead of accepting your short sale offer.

Remember, it's not personal, and it's not emotional. The bank wants as much money as they can, that is the name of the game. Your job as a Realtor/Negotiator is to make sure the numbers get communicated to someone at the bank who has the authority to make the right decision.

CRUSH IT!!!

:)

Joshua Gayman

Scottsdale, AZ