What type of programs are Available for first time homeowners?

KerriLyn! Great question! We get this question ALL the time! First-time home buyers often have access to various programs and incentives designed to help them achieve their dream of homeownership.Here are some common types of programs available for first-time home buyers:Down Payment Assistance Programs: These programs offer financial assistance to help with the down payment and closing costs, which can be a significant barrier for first-time buyers. They may come in the form of grants, forgivable loans, or low-interest loans. First-Time Home Buyer Grants: Some governments and nonprofit organizations provide grants to eligible first-time home buyers. Unlike loans, grants do not have to be repaid. Mortgage Loan Programs: Some lenders offer specialized mortgage loan programs designed for first-time home buyers, with more flexible eligibility criteria and lower down payment requirements. Tax Credits: First-time home buyers may be eligible for tax credits that can reduce their overall tax liability, making homeownership more affordable. Government-backed Loans: In many countries, government entities provide programs like FHA loans (in the United States), which are insured by the government and have more lenient qualifying requirements. These are not limited for first time buyers. Home Buying Workshops and Counseling: Many housing agencies and nonprofits offer educational workshops and counseling services to guide first-time buyers through the home buying process. If you have any other questions or need any assistance, please feel free to reach out! codysellsproperty@gmail.com 346-412-6603

There are all type of new programs for first time homeowners. The most important one is reduced down payment. Reach out to me and I can refer to couple of mortgage lenders who will lead you all the way from getting pre-approval to closing.


Chris
832-859-8698
ChrisRealEstatePro.com

Lending is becoming easier and there is tons of programs for first time homebuyers.
I can refer you to one of the lender I partner with if you wish.
francois@cozy-homes.com / 713 397 8857

If you have already started researching First Time Home Buyers Assistance Programs you are on the right path. I agree that the best thing to do is speak to at least a few different mortgage lenders and officers who specialize in these programs. Not all are so willing to participate in these programs and will offer alternative options, for this reason, I always encourage being able to compare one to another and not just settle for the first opportunity to present itself. Of course, you want to do your research regardless and be in control of all the facts. With that being said, there are some great programs available out there. For further information, have a look below:

Hope this helps,

Carel Bosman
Keller Williams Memorial
281-917-8737

More information on state and local programs:
http://www.tsahc.org/homebuyers-renters/first-time-home-buyer-grants
https://www.hud.gov/states/texas/homeownership/buyingprgms

Here is a helpful article by Forbes:
https://www.forbes.com/sites/financialfinesse/2017/02/19/are-you-a-first-time-home-buyer-be-aware-of-these-mortgage-programs/#3188d3655bc1

There are many loan programs out there for first time home buyers as well as other types of loan that are available to all. You will want to contact a couple of lenders to find out what they have to offer you. There are many factors that go into purchasing a home but the FHA program is probably the most used finance type. Also, depending on the area you are wanting buy in, the USDA is an excellent program as well. They all have different requirements and guidelines so getting with a good lender is your best direction.

Rhonda Ferris
Sales Associate
RE/MAX Associates Northeast
713-819-7372