So just from a really high level point of view, do you want to explain, again, not necessarily each individual program, but just kind of what that is? Yeah, so typically, so you have your your zero downs like VA USDA. And then you have your down payment assistance programs. I'm going to mainly focus just, you know, MHDC, Essex. Yeah, so yeah, with typically with down payment assistance you have either a forgivable second which that's what MHDC does. Mhm. So it's a second that's out
there that's forgivable over a certain amount of time. And I've got all those details for anyone who just Yeah. cuz it it is always changing, so but I've got all that those details written down that I always provide borrowers if they're interested in that. And then with Essex there's a couple different ways to structure it, but usually you just get a better better terms on the loan if you do what's considered a repayable second. And so you have your first mortgage payment, you have
your second mortgage payment, and so that's often times how the Essex loan is structured. Right. And some of those have restrictions about how long you have to own the house or live there as a primary residence and that kind of thing to get that second loan forgiven. So I just want to point that out. There are some disadvantages to doing that, but they are really great programs. point. Yeah. They help a lot of people, but it's you know, it's like anything. I
in real estate, so many people just focus on let me figure this out to get you into a house and don't really explain the the cost benefit of it, right? And so there's a cost to everything a lot of times. I would say with maybe the exception of the VA loan, especially if it's your first time using a VA loan, that's the like gold standard program for me for a whole lot of reasons, but um and as it should be, but just make sure people
come to us thinking like, I've got to do this loan program. And we'll tell them like if at the end of the day, if someone really wants to do something and they qualify for it, I'm not going to stand in their way. But a lot of times we bring up other things that they had not ever heard of before and they end up doing that. Yeah. Just one of the reasons why my team and I refer the vast majority of our clients to your team
because, you know, we we try to spend a lot of time educating and giving all our clients the information they need to make whatever decision's best for them. And so your team and my team are very aligned in how we make sure to give information to people and and tell people the the pros and cons of, you know, all the different options. Cuz one thing about real estate, especially if you're a first-time homebuyer or you haven't owned a home, is there's no there's generally a lot
of ways to do things. There's not one way to get you into a house. And most people that are telling you that are in it for a paycheck and not in it to help you. One of the big things we see is that MHDC is not a very profitable program for lenders. Not at all. And in fact, some lenders, because of that, and and I'm not speculating because they've actually said it, they don't do that program because of that there's not much profit in it
for them. And so what I have heard from borrowers that have maybe started somewhere else is that the lender was trying to talk down a program that they don't offer. And you know, I I just don't know that that's the right thing. If if they don't offer it, you know, because it's not profitable, you know, I just my hope is that the borrower understands that they're, you know, Yeah, and it's I mean, it's extra it's extra work for the lender, right? It's not it's not
as easy. And and I think some realtors are intimidated by that as well just because they feel like I I have the knowledge of this program or the you know, I haven't done it before and so I'm hesitant to explain or tell my client about it. So, so the other big thing that we always talk about with people uh
