Cheryl Knowlton: Hi everybody and welcome to a new week’s worth of amazing content. I’m here with Clay Johnson.
Clay Johnson: Hi again.
Cheryl Knowlton: From Castle and Cooke Mortgage. This week we’re going to be talking about down payment assistance. There are so many misconceptions, Clay, about down payment and even worse than buyer’s misconceptions. I don’t think real estate professionals understand there are 29.
Clay Johnson: 29 different programs in Utah that are down payment assistance.
Cheryl Knowlton: That’s crazy.
Clay Johnson: It is.
Cheryl Knowlton: Did you know that?
Clay Johnson: Especially when you look at NAR. NAR did a study this last year and they said 30% of the population thinks you have to have 20% or more down. Another 35% of the population thinks you have to have 15 to 20% down. So just those two classes alone, we have two-thirds of the population that think you have to have more than 15% down. And in today’s lending world, nothing could be further from the truth. It’s just crazy. So you know, one of the things that we like to talk about and one of the classes I teach as well is, what are some of those programs, what do they look like and how to best utilize them? And I’m excited to talk about this as we go through this week. Some of the different programs we have.
Cheryl Knowlton: And it’s going to be fantastic. I remember years ago when I was on the lending side, my boss told me, “You want to be a good account executive? Know our programs. Do you want to be amazing? Learn the programs of our competition.”
Clay Johnson: Yes.
Cheryl Knowlton: So I’m going to twist that and say, “You want to be an amazing real estate professional? Learn enough about lending and who to partner with. Partner with an amazing lender so that you can really up the ante in the information and the resources that you provide to buyers.”
Clay Johnson: Absolutely.
Cheryl Knowlton: So I’m excited to bring all the content to you this week. So stay tuned for more episodes. Coming right at you.
Clay Johnson: Catch you next time.