Loans Can Be FUN Podcast

Loans Can Be Fun Podcast Episode 2

2024-01-31

This podcast episode from "Loans Can Be Fun" focuses on grants and assistance for first-time homebuyers.

This podcast episode from "Loans Can Be Fun" focuses on grants and assistance for first-time homebuyers. The hosts discuss the challenges of high loan rates and the intricacies of grants, emphasizing that grants are usually offered by government entities like counties or cities to borrowers who meet specific criteria, often related to income limits. They express frustration over the restrictive nature of these grants, particularly regarding income limits and property requirements. The discussion also covers various aspects of grants, such as repayment terms, the need for them to fit specific job types or family situations, and additional requirements like property inspections. They mention the "Own in Ogden" grant as an example, highlighting its unique property requirements. Further, the hosts talk about alternative assistance programs like Utah Housing, which helps with down payments and closing costs. They explain the trade-offs of such programs, including higher loan costs and interest rates. They also discuss the importance of education and clarity in the home-buying process, aiming to make it less intimidating for first-time buyers. Lastly, the podcast touches on the involvement of parents in the home-buying process, stressing that loans have evolved and parental advice might not always be applicable. The hosts conclude by encouraging listeners to visit their website for more information and to tune in for future episodes discussing various loan types.

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Filetype: AAC - Size: 18 MB - Duration: 9:25m (255 kbps 48000 Hz)