It’s hard to ignore the fact that many aspects of the real estate process have become needlessly complex to the point of inscrutability. While such a sizable transaction often has a lot of moving parts that need to be thoroughly addressed, there are many areas in which existing complexities could be slightly altered for the sake of simplicity. This applies to all of the various processes facing lenders, real estate agents and, of course, the buyers and sellers.
The basic concept is designed to help renters save the money they will need for the down payment along with the closing costs associated with buying a home. The percentages differ among programs, but a realty company may offer a grant of 10 percent of the total amount of rent paid to be used in buying a home. In areas where properties tend to be on the expensive end of the spectrum, a program like this can make it possible to bring homebuyers into the market who would have never otherwise purchased a home.
