First Time Homebuyer
Do you dream of owning your own home? Are you wondering if you are ready to enter the world of homeownership? Then it may be time to consider looking for your first home. You needn’t worry too much, buying your first home is not nearly as scary as it used to be. Many lenders offer first time home buyer programs that will help you along the way.
Get a Free Mortgage Quote Today >>
Overview of the First Time Homebuyer Situation
The most common thing that stands in the way of potential homebuyers is the down payment issue. Many people can afford to make the monthly mortgage payments, but can’t seem to pull a down payments together. Fortunately, there are several no down payment plans that help make this portion of the home buying process easier.
Programs First Time Homebuyers May Be Interested In
No Down payment Programs
1. The Federal Housing Administration (FHA) Mortgage
2. The Veterans Administration (VA) Loan
3. 100% Finance Home Purchase
4. 103% Finance Home Purchase
5. 107% Finance Home Purchase
Other Programs
1. Adjustable Rate Mortgage
2. Fixed Rate Mortgage
3. Interest Only Mortgage
Request your Free Mortgage Quote Now>>
Advantages to becoming a Homeowner
1. Your monthly rent check may not be that much less than your monthly mortgage bill would be. If you can comfortably afford to pay your rent each month, look into buying a home.
2. You will build equity. Equity is a valuable financial tool that renters simply don’t have. Equity can help you get other loans, including the Home Equity Line of Credit.
3. Homeowners have more opportunities for tax write-offs.
