Buy My Home

4 Responses to “Is there any programs for 1st time home buyers?”

1. 1SmokeyD

   Check out the government’s FHA loan program. I just bought a nice townhouse with only 3% down.

   Comment on Dec 30th, 2009 at 8:16 pm  
2. 2Steve D

   The FHA has a loan program that requires only 3.5% down. In certain areas, you may qualify for a rural mortgage through Agriculture with minimum down. Also, there were state level programs for first-time buyers that helped out with closing and/or down payments – check your state government for these programs.

   There is some good information at this site:

   Comment on Jan 2nd, 2010 at 7:23 am  
3. 3Joann 50 St loan officer

   Being a loan officer able to do loans in all 50 states I can tell you that there are many programs avail. for first time home buyers.

   Fha 3%, USDA loans, Conventional, it all depends on your credit and income to what you qualify for if you do qualify.

   Comment on Jan 3rd, 2010 at 2:18 am  
4. 4AE Neuman

   Yes and it depends you, your income, your career, but mostly on where you plan to buy your first home. There are federal, state and local programs.There’s also the bank of Mom and Dad.

   The federal government has a tax benefit for first-time buyers. Also, the FHA has mortgage programs.

   Most such programs are state-run programs, however, with federal funding in some instances. These programs are meant to focus on specific neighborhoods, in an effort to improve the rate of homeownership. Search Google for your state’s programs.

   Sometimes these programs are city-based, and the developers of large residential complexes are required to make a percentage of units available for below-market rates. So, be sure to check city hall to find out where these developments are located.

   For instance, our fair city had a set-aside created for teachers. If you were a public-school teacher buying your first home, you would qualify for some great deals.

   Comment on Jan 3rd, 2010 at 2:33 pm