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Political Discussion
Reply to "$25K in down-payment support for 1st-time homebuyers"
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[quote=Anonymous][quote=Anonymous]And guess what? All house prices go up…not just entry level homes. And only first time buyers get the proposed $25,000 credit. [/quote] Hopefully these buyers stay more than five years and gain some equity before buying the next home. If they roll the equity into the new home, they won't need a handout. I didn't get grants, but I got a lower interest VHDA loan with 10% down and PMI. After six years I rolled the capital gains into a home that cost 2.5 times the first one and got a conventional loan with 20% down. [/quote]
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