The Stairs Blog
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Introducing Stairs Financial: Your Operating System for Home Buying
Hello world! We’re Stairs Financial–we help young Americans buy a home they can afford. We find homes within your budget and give you access to grants, loans and tax breaks. We’re excited to announce that we’re a part of the YCombinator W22 batch! Thanks to YC and to our earliest investors at Antler for their…
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Biden’s First-Time Buyers $25,000 Downpayment Toward Equity Act 2021
A guide to Biden’s first-time buyers $25,000 Downpayment Toward Equity Act of 2021. Eligibility info and how to apply for Biden’s down payment assistance.
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The Cheapest State to Buy a House: 15 Picks for 2023
What is the cheapest state to buy a house in 2023? What about the cheapest state to live in the US? We dove into the housing market data to find out.
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What Happens if I Pay Back a Gifted Down Payment?
Learn all about gifted down payments: What happens if you pay back a gifted down payment? What goes into a gift letter for a mortgage? Who can give a gift?
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How Can Friends & Family Help Me Buy a House?
Down Payments, amiright? The downpayment on a house is a hefty sum. We’re not even talking the full 20% to avoid PMI, even just the 3% to get a basic FHA loan can truly be a financial burden. It takes a village to raise a child, but good hell, these days it takes a village…
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Buying a House Using a Government Grant
The year is 2017, and the housing market, fairly typical. There was average competition, room for negotiation, and a surplus of inventory. Buying a house felt like the methodical and logical process it should be, where we can factor in everything. We happened across a down payment assistance program, and it was the BEST factor…
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Why a School Took on the Problem of Homeownership
Study after study has shown clear links between a family’s housing stability and their child’s educational attainment. Enabling access to down payment assistance lifts up families, children and communities. That’s why One City Schools agreed to serve as the pilot site last year for Own It: Building Black Wealth. When I helped start One City…
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Why Use a Mortgage Broker? (And When Not To!)
Mortgage brokers are here to help and serve you. They act as an intermediary between you and lenders, to ensure that you get the best mortgage rate possible. They are qualified experts who can assist you in choosing the best mortgage option to meet your financial situation and objectives. Mortgage brokers make their money as…
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Using Your 401K For the Down Payment as a First-Time Home Buyer
Disclaimer: Listen, it wouldn’t be prudent for us to start this article without a HEAVY warning. Using your 401K or IRA for the down payment of your house is not a circumstance that should be frequently used or considered. Doing this could benefit a very niche group of people in specific circumstances (that you must…
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First-time home buyer pre-approval: What it is and how it works
The purpose of pre-approval for first-time home buyers A pre-approval from a mortgage lender helps you plan for your maximum house budget. It’s a soft inquiry on your credit and isn’t tied to a specific house. The amount you get approved for is what the lender feels comfortable saying: (1) we will likely lend you…
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What Happens at the Closing Table?
Closing on a house comes with a lot of paperwork. You and all relevant parties will sit down and sign approximately 100 pages about your new purchase. Expect this to take about an hour. The lender wants to ensure that everyone is on the same page (literally!) with how you plan to pay for your…
Stairs Helps You Find Down Payment Assistance