Benefits of First-Time Home Buyer Programs:

Lower Down Payment

Flexible Credit Requirements

Reduced Interest Rates

Closing Cost Assistance

Financial Assistance

DPA for First Time Home Buyer

National Homebuyers Fund: Up to 5% grant for down payment or closing costs.

American Dream Down Payment Initiative: Grants for first-time buyers.

Good Neighbor Next Door: 50% off homes for eligible responders and educators.

The Home Buying Process

Finding a Real Estate Agent: The role of an agent and tips for finding the right one.

Searching for Your Home: Prioritizing your needs vs. wants, considering location, and attending open houses.

Making an Offer: How to make a competitive offer, understanding contingencies, and negotiating terms.

Types of Loans for First Time Home Buyer

FHA Loans: Low credit score (580) and down payment requirements.

VA Loans: Favorable rates for eligible veterans.

USDA Loans: Ideal for rural homebuyers.

Conventional Loans: Flexible options with varying requirements.

Down Payment Assistance: Programs to help cover costs.

Qualifying for First Time Home Buyer Programs

1. Be a first-time homebuyer (not owned in 3 years).

2. Meet income requirements.

3. Have a credit score of at least 620.

4. Attend homebuyer education courses.