What is a First Time Homebuyer?

Many people dream of owning a home but the home loan process can be confusing for first time home buyers.  Mortgage lenders offer first time buyers with many home loan options that assist the buyer in finding the best home loan for them.  First time home buyer programs offer lower interest rates, low down payments, or reduced taxes.




FHA and VA and USDA Loans for First Time Buyers.

First time homebuyers often experience the most difficulty amounting a significant down payment and everyone should have the opportunity to buy a home.  For this reason we specialize in loan programs to assist homebuyers that have little or no down payment.  Those programs are called the Federal Housing Administration (FHA), the Veterans Administration (VA), and U.S. Dept of Agriculture (U.S.D.A.).  These programs are not solely intended for first time homebuyers and your home loan advisor will be able to determine if you qualify and if so which program best meets your needs.




Who is Eligible for a First Time Buyer Loan?

First time home buyer programs are designed to help borrowers who may not have enough to pay the full cost of the down payment or the closing costs on a mortgage.  These programs make obtaining a mortgage more cost effective.  there are even programs specifically for each state.  First time home buyer programs are available to those who have not owned a home for the past three years.