Tamara Celeste: Do you need money for closing costs to buy your first home? Watch this video to find out seven simple ways to find money to purchase that home.

Tamara Celeste: (music)

Tamara Celeste: For the best home buying tips and advice, please subscribe to my channel, and also hit that little bell, because you will be notified every Tuesday as soon as I post a new video.

Tamara Celeste: If you are trying to figure out a way to find money to buy a home, watch this video, and by the end of this video you will learn seven ways to find money to help you toward your home purchase. Many of my clients have used these tips.

Tamara Celeste: Tip number one, city and county grants. There’s a lot of money out there for first-time home buyers, so I want each of you to do a Google search for me. Google “first time home buyer program” and then enter your city or state. So, for example, I live in West Palm Beach, Florida. I would search “first time home buyer programs” or “first time home buyer grants West Palm Beach Florida.” You should have quite a bit of information come up for you. So, definitely do some research, look at the requirements for certain grants. Some of them have specific income requirements, some have credit requirements, but that’s a great place to start, to see what money is out there.

Tamara Celeste: Tip number two, a family gift. If you have a family member, brother, sister, mother, grandmother, that is willing to give you a gift, this could be a great way to help get money for your closing costs. Now, it cannot be a loan, but it has to be a gift that you are not going to pay back, and your lender has specific guidelines, and your lender will be able to walk you through those guidelines.

Tamara Celeste: Tip number three, seller concessions. Now, a seller, depending on your loan type, is allowed to give you back a portion at closing to help pay for your closing costs. This can be significant. For example, let’s say the loan allows the seller to give 3% of the loan amount, and you are getting a $100,000 loan, and your closing costs are going to be $4,000, but the seller can give $3,000. That’s a significant amount of money. Again, there are certain procedures to follow, and your local realtor and lender can walk you through those.

Tamara Celeste: Tip number four, get yourself a side hustle. Yeah, right now, there are so many opportunities to make money that you can do to boost your bank account. So definitely, definitely consider that. Look for things that interest you, like shopping or dog walking. I also have a video that’s coming out very soon, so be on the lookout for it.

Tamara Celeste: Also, right now, I want to take a minute to stop. If you like what I’ve said so far, anything resonates with you, please comment below.

Tamara Celeste: So, we’re back. Tip number five, your 401(k) or retirement. Many of you are fortunate enough to have 401(k) or retirement savings, and there is a possibility that you can use these funds for a down payment or closing costs to help you buy your first home. There are specific guidelines that you must follow, and that your employer must follow, so make a call to your employer administrator or 401(k) administrator, and see if that’s a possibility. Sometimes it’s taking out a loan against your 401(k), but if you have those funds and you need the extra money for down payment or closing costs, definitely, definitely consider this option.

Tamara Celeste: Tip number six is talking to your employer. Believe it or not, some employers, as part of their benefit package, has money for closing costs. It could be $500, $1,000, who cares? It’s money out there for you to use. It’s usually some of the larger employers, but you never know. Talk to your plan administrator, talk to your HR person, your benefits plan administrator, and see if your employer does offer any funds for down payment or closing cost assistance.

Tamara Celeste: Finally, tip number seven, crowdfunding. Many of you are aware of GoFundMe, and other crowdfunding platforms, and you get these GoFundMe campaigns from people who are trying to raise money for things as serious as medical conditions or other things. But, believe it or not, now there are some lenders that have crowdfunding platforms that you can solicit friends and family to pool together money to help you with your closing costs. Definitely, definitely do some research and Google that, and you might be pleasantly surprised.

Tamara Celeste: If you liked this video, please do me a favor and “Like” it below. Also, hit the “Subscribe” button, and please share with your fellow ladies. Write a comment, let me know what was helpful, let me know what your biggest takeaway was. I love, love, love to hear your feedback.

Tamara Celeste: Also, if you would like to join a community of like-minded women just like you, who are all moving toward the goal of home ownership, please join my private Facebook group. In this group, I offer advice and support, and also give you guidance on navigating the sometime confusing process of purchasing a home.

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