01/21/2025
Achieve Homeownership with Minimal Out-of-Pocket Costs! 🏠
At MKG Enterprises Corp, we specialize in helping first-time homebuyers turn their resources into the keys to their dream home. Using a combination of Down Payment Assistance (DPA), tax refunds, and retirement savings, you can achieve 100% financing for your new home purchase!
How It Works:
With a $355,000 home purchase:
Down Payment: $10,650
Closing Costs: $10,650
Broker Fees: $9,762.50
Total Costs to Purchase: $31,062.50
Credits and Contributions Applied:
Earnest Money Deposit (EMD): $3,550
Down Payment Assistance (DPA): $17,750
Tax Refund: $5,000 or $9,500
Retirement Savings Withdrawal (401(k)/403(b): $5,000 to $10,000
💡 Outcome: Using your retirement savings in addition to your tax refund and DPA ensures 100% financing for all costs, including down payment, closing costs, and broker fees.
Key Benefits:
100% Financing Achieved: All required funds for down payment, closing costs, and broker fees are fully covered.
Efficient Resource Use: Combining DPA, retirement savings, and tax refunds ensures affordability and no major upfront expenses.
Minimized Out-of-Pocket Costs: You’ll only need to budget for smaller items like inspection fees, appraisals, and warranties.
No Out-of-Pocket Costs: Use the optimizer to allocate resources effectively, leaving only minimal fees for inspections, appraisals, and warranties.
Smart Use of Assets: Leverage your tax refund and retirement savings to secure your future without depleting your cash reserves.
Tailored for First-Time Homebuyers: Perfect for buyers with a 580 credit score looking for affordable monthly payments (approximately $2,249.97).
Disclaimer: This is not a commitment to lend. All applications are subject to underwriting approval. Final loan terms may vary. Consult with your financial advisor regarding any withdrawal from retirement accounts.
Loan terms are based on a 30-year fixed-rate mortgage at 6.875% as of 1/20/2025. Final terms are subject to underwriting approval and may vary.
Homeownership Goals, Down Payment Assistance, Tax Refund Savings, Retirement Funds For Homes, 100% Percent Financing