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First Time Home Buyer Programs

Obama’s First Time Home Buyer Stimulus Plan Helps American’s Live the Dream

Obama’s First Time Home Buyer Stimulus Plan Helps American’s Live the Dream

At some point in his/her life, everyone dreams of owning his/her own home. This will probably be the biggest purchase you every make. You might be a single person, a couple or a family, but you have decided it is time to buy a home. The qualifications for eligibility in the First Time Home Buyer program is that you have not owned a home in the past three years. If this applies to your circumstances, then congress passed the First Time Home Buyer Stimulus Program in 2008 and 2009 just for you.

Like all other large purchases, you need to plan before buying a house. You have to decide on location, do you want it to be near where you work, where your children go to school or are you more concerned with the scenery? Start by looking for your dream home in the area you want. Decide how big you want the house to be, the furniture you have, and the things you want to include in your home. After you have an understanding of what you want, you can start the more serious part of your planning.

Now decide on how much you can spend. There are two parts to this, the down payment and your monthly payments composed of your mortgage and the taxes. This will also help you decide on the type of home you can purchase and where. Now you need to look at your credit history. A good credit history will make it easier to be approved for a mortgage loan.

You can learn more about this stimulus package from your bank or lending institution. These programs were created so the housing market would grow as well as to offer financial help to first time homeowners. Homeowners benefit from lower interest rates, a tax credit and help with the down payment. People who are disabled or who live on a low income might qualify for an even lower interest rate.

The First Time Home Buyer Stimulus Programs, created just to help first time homebuyers, gives them all the incentives needed to enter the housing market.

First Time Home Buyer Programs

For tips and facts about how you can benefit from Obama’s Home Stimulus Plan – or to find out if you qualify, visit our no nonsense home stimulus guide: http://firsttimehomebuyerstimulus.net

First Time Home Buyer Programs

Obama’s Federal Program Bringing Home Loans into Reach of First Time Home Buyers

Obama’s Federal Program Bringing Home Loans into Reach of First Time Home Buyers

Economic weakness threatens the chances of many Americans to become homeowners and so threatens the nation’s ability to thrive as a nation. Keen to help, the federal government offers the First Time Home Buyer Stimulus Package. It targets first time buyers and those who have not owned a home in three or more years.

Purchases under this program are of pre-owned homes and homes in the new construction phase, stimulating demand in the housing market. Whether indirectly, by boosting buys of pre-owned homes, or directly, by boosting housing starts, this gives builders and their crews more work. As for homeowners, they receive help in three ways, with tax credits, assistance with down payments, and with decreased interest rates.

The initial purpose of the stimulus program was to stave off the economic slowdown of which existence became apparent during the financial crisis of 2008. The developing situation demanded reinforcement of these efforts, which came in the form of a more comprehensive plan from the federal government. In particular, the Obama administration believed that the reluctance to spend money came from the fear of losing home ownership. This, along with the collapse of real estate market, convinced to administration to act to stimulate home ownership.

For any purchase made in the year 2009, a homebuyer may qualify for a 10 percent tax credit. This may for up to ,000, with the basis being the gross purchase price. The home owner may claim this credit either the year of purchase or within two years of purchase. This tax credit provides money to the homeowner, which he may decide to save.

Next is a reduction in the down payment. Usually, these are at least ten percent of the home’s price. The government plan is to pay off part of the down payment. Lower down payments make it easier to purchase the home. Furthermore, reducing the down payment reduces the burdens keeping you from placing money in an investment account or from improving the new home. Also, government help may reduce the interest rate on your home loan by reducing the basis points on the interest rate. Qualification for the tax credit requires that a single person’s income not exceed , 000 and that with a partner income not exceed 0,000.

A third way to encourage home purchases is a tax rebate. In this case, the federal government places the rebate on the amount of interest assessed on the loan. This is not related to the tax credit. Under this stimulus program, homeowners may apply for both the credit and the rebate. Landlords, who buy property for income purposes, may qualify for the rebate. Because the landlord’s maintenance expenses go to the upkeep of the rented property, they are eligible for income tax deductions. Hence landlords are eligible for the rebate.

Economic growth is impossible without continuous improvement of the national infrastructure. However, the collapse in the demand for housing hits precisely here. The Obama adminstration intends to rectify this with tax credits, down payment assistance, and interest rate reductions. Under the First Time Home Buyer program, it intends to place buyers in new homes and stimulate economic activity.

First Time Home Buyer Programs

For tips and facts about how you can benefit from Obama’s Home Stimulus Plan – or to find out if you qualify, visit our no nonsense home stimulus guide: http://ObamasStimulusPackage.net

realestatemarketingthisweek.com – 00 tax credit for first time home buyers with low down payment – Part 3 – We have back in the studio today Mr. Dan Havey. Dan and I have worked together in the mortgage industry for about 14 years and we are happy to have him back. He has seen a lot of changes in the market and thanks again for being here. Michael, here is a question I wanted to ask you, there is so much misconception in the marketplace today as far as what is still available for financing. I think a lot of people have this idea that it is impossible to finance a loan or get a mortgage or that you have to be able to put 20% down or have a 720 FICO score. Can you let people know whats really going on out there? Well you know a lot of things have gone away. There are a lot of those old loan programs that were fancy ways to sell money and finance real property and a lot of thats gone. The reality of it is, if a person has a minimal amount of money down, there is absolutely financing through the Federal Housing Administration with 3.5% down. You can buy up to about 8000 with only 3.5% down. Now with Fannie Mae and Freddie Mac, we actually do have a few investors that will allow us to only put 5% down with those and that loan amount maximum is 7000. So there is still plenty of financing for primary residences. Now in regard to looking at investment properties believe it or not there are actually still some stated income loans out there, but the stated income loan is …
First Time Home Buyer Programs
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First-Time Home Buyer Tax Credit Audits

First-Time Home Buyer Tax Credit Audits

The federal government has initiated a host of programs trying to rev up the government. From Cash for Clunkers to the First-Time Home Buyer tax credit, these programs have in fact revved up the auto and real estate markets. Alas, the IRS is starting to take a keen interest in those claiming the first-time home buyer tax credit and is, in fact, starting to audit returns where the credit claim is questionable.

A down payment is obviously one of the big hurdles to buying a home. Faced with a real estate market that could only be called morbid, the federal government came up with the first-time home buyer tax credit. This essentially provided ,000 for a down payment so long as certain requirements were meant. The program has been a huge hit and real estate markets across the country are starting to come back a bit. The only problem is many people just assumed they could claim the credit so long as the home was their first. This is wrong and leading the IRS to start scrutinizing tax returns that include a claim.

I am looking to buy my first home. My parents own their home and a second rental property in town. Given the economic mess, the rental market has been down. After talking about it, we agree that I will buy their rental property as my first home. I claim the first-time home buyer tax credit, get a loan and move into my first home. Everything is fine, right? Unfortunately, it is not. I cannot claim the tax credit if I by from a related person. Arguably, I’ve just committed tax fraud!

There are a host of rules that apply to the first-time home buyer program. They are easy to understand, but few people realize they exist. Make sure to cover them with your tax professional before you buy that first home or you could really regret it.

First Time Home Buyer Programs

Thomas Ajava writes for TaxAttorneyinNewYork.com – locate a tax attorney in New York to represent you in tax disputes with the IRS, state and local agencies.

First Time Home Buyer Programs

First Time Home Buyers Help: 3 Tips to Get You into Your Dream Home

First Time Home Buyers Help: 3 Tips to Get You into Your Dream Home

Buying your first home is likely the largest single purchase you have ever considered, which is why first time home buyers help is necessary. Because of the cost and significance, it is important to understand all of the details surrounding the potential purchase. From finding a realtor or builder to choosing the best mortgage to coming up with the funds necessary to make the purchase, the process may take some research and work on your part, but the result is owning your first home—one of the most important and rewarding investments of your lifetime.

Below are three tips to take you from dreaming about your first home to experiencing the reality of your first home purchase:

1.    Determine if you qualify for special loans or grants. First time home buyers have the unique opportunity to benefit from special programs and incentives, such as significant tax credits, low-interest-rate loans and event government grants. Whether you are able to find a program that cushions your monthly mortgage payment or helps you to pay a chunk off the purchase price of a home, it is worth the time and effort to fully research all options. Simple Internet research may help you to learn more about the opportunities available to you, or you can call a trusted mortgage consultant who specializes in first time home buyer programs.

2.    To buy or to build? For some first time home buyers, building is a great option. Now more than ever, builders and construction companies understand that customers need a great value if they are going to build. Rather than searching for months and months for that perfect house, consider meeting with a new home builder to determine if a custom townhome or home is right for your housing goals and budget. Imagine the excitement of choosing the features and design of your very own home!

3.    Organize your finances. Making sure your bills and finances are in order helps you to be ready to provide the paperwork necessary to close the sale on your new home. If you have been unorganized in the past, now is the time to get a grip on the mass of bills, files and paperwork stuffed into the file cabinet. The last thing you want is to be ready to move forward on the purchase of the home of your dreams, only to find your financial records are a mess and you have to get it together before you can take the next step.  

As a first time home buyer, this is a special time in your life—a milestone that can be a great moment to remember for years to come. However, it is important to go into the process of purchasing or building a home with thoughtful consideration and research, so you fully understand the process and details involved. Don’t be afraid to ask questions and interview experts, such as mortgage consultants, financial advisors, home builders or even a wise relative to obtain the first time home buyers help you need to make the best decision for your future.

First Time Home Buyer Programs

McGuinn Construction Management has been serving Columbia area customers since 1995. For more information about affordable new home builders and the Custom Home System, visit McGuinn’s website at http://www.mcguinnhomes.com/, or call the office at (803) 917-5583.

www.mcguinnhomes.com

First Time Home Buyer Programs

First Time Home Buyers

First Time Home Buyers

In 1994, we set our sights on a house located in a pleasant, quiet suburban enclave called Bixby Knolls in Long Beach, CA.  Although we could barely afford the home’s 0,000 purchase price – a fortune for us at the time – it was a small, neat, modest home situated in a good neighborhood with appreciation potential.  So, we dove into the home buying market.  It was a perfectly manageable house located in a perfectly acceptable neighborhood.

                                                           

We did not have a clue at the time that home prices would slowly begin to climb and climb and climb thanks to an extended period of historically low interest rates. Low interest rates spurred consumer demand, which soon grew to overwhelming consumer demand for homes to call their own.  Consequently, home prices reached stratospheric levels in our neighborhood as well as in most major metropolitan markets (Texas, Oklahoma, the Dakotas and a few other affordable markets being the exception). 

Ten years later, in the middle of April 2004, a devastatingly tragic electrical fire took the lives of our beloved Italian Greyhounds, Ben and Rusty.  Although we rebuilt our home better than it was before, it was still a sad time for us; we ultimately sold our first, “first home”.  The offers made for our modest 1,600 square foot home were obscene – obscene amounts, that is.  It was undeniably the most profitable yet most heartbreaking investment of our lives.

In retrospect, recalling the loan application process and qualifying for the mortgage in order to buy our perfect little house, well, we recollect that process was NOT so perfect. 

In 1994, when we were struggling to qualify for the mortgage, we were not aware of available first time home buyer programs created for folks of low to moderate income.

Furthermore, our loan officer did not introduce us to these options, either because he was as clueless as we were about the existence of such programs or, the bank with whom he was employed at the time elected not to participate in specialty programs for first time home buyers. 

Neither we nor our loan officer had any idea the city of Long Beach, county of Los Angeles and yes, even the State of California all had available specialty loan programs designed specifically for folks like us: first time home buyers, short on cash for a 20%, 10% or even 5% down payment, not to mention funds to cover closing costs. 

We were wholly unfamiliar with mortgage credit certificate programs, below market interest rate programs, mortgage revenue bond programs, and we would have given our left arm for help with no-strings-attached gift money and forgivable grant money provided through city, county and state housing agencies. 

If we only knew . . . the home buying process would have been so much easier and much less stressful.   Driving our decision to buy a home we could barely afford was  exacerbated by our landlord’s demand we vacate the house, which was once rented by my husband and his former wife (the landlord’s daughter), within 30 days.  Great – no pressure there. . .

Fortunately, with the generous help of parents and with a loan borrowed from our 401K, we were finally able to produce a minimal down payment.   Our motivated home seller, an 80 year old retiree who wanted to move closer to her daughter in another town, helped us pay some of our closing costs through seller concessions. Then after all that, we SOMEHOW managed to scrape up sufficient funds to substantiate cash reserves to satisfy our lender and cover our personal moving expenses after escrow closed. 

Did we consider buying new furnishings and/or major appliances to update our 50 year old new house?  Fuggedaboutit!  And THEN we had to take into account recurring costs associated with debt servicing the new mortgage and maintaining our new home like water, electricity, property taxes, etc. 

If your borrowers are anything like we were back in the day, the sticker shock associated with a new home purchase and maintenance costs can discourage even the most motivated buyers.

Timely solutions to the above-described challenges may not be easily found or forthcoming at all.  Notwithstanding the charity of parents, other relatives and/or through the liquidation of assets in order to meet most lenders’ minimum mandatory requirements for down payment and cash reserves, a substantial number of  first time home buying hopefuls will consequently shelve their Dream of Homeownership.

This is the sad, sad shelf upon which dust will gather, accumulate and ultimately completely obscure the light-filled Dream of Home Ownership which once burned brightly in their mind’s eye – snuffed out, extinguished. 

What you must know is it doesn’t have to end this way.

Be the Hero.  With new information provided through the OFFICIAL LOAN OFFICER GUIDE,   solutions to the above-described challenges are placed at your fingertips.

In most real estate markets today, it remains virtually impossible for the average consumer of low to moderate income to qualify for a modestly sized mortgage without benefit of a substantial out-of-pocket investment.  Depending on a variety of qualifying factors, we’re talking a down payment investment equal to  10, 15, 20 or 25% of the home’s sales price plus closing costs (points, title, insurance, etc.). 

Be the Hero.  Be the “Go to Guy” for information about down payment assistance programs and products.

Programs like those that are the focus of the Official Loan Officer Guide will well serve your marginally qualified borrowers and help support the real estate industry overall by providing another way to shore up buyer qualifying and loan viability. 

Be the Hero.  Reserve first time home buyer program funds on behalf of your borrower before your competition does.  When I worked for a major national mortgage bank (a bank  heavily vested in first time home buyer loan programs),  I observed first hand fierce competition between loan officers and competing lenders for the right to secure programs funds on behalf of their constituencies – first time home buyers. 

I observed borrowers anxiously await word from their loan officer for assurances that they too would get their piece of the first time home buyer mortgage assistance pie.  Anything less could, and often did, jeopardize the borrower’s ability to qualify for a mortgage and close escrow on time (if ever).

A growing number of city, county and state housing finance agencies/authorities/corporations are creating new and/or fully funding existing programs to assist first time home buyers with cash money for down payment and closing costs.  Monetary assistance can be quite substantial, ranging in amounts from ,000 to 0,000+ (amounts vary by city, county and state) or calculated as a percentage of the home’s sales price or a percentage of the first mortgage loan amount. 

Be the Hero.  Be the first in line to procure program information, educate your customer and secure funds for your stressed out client base – first time home buyers. 

Please note, programs addressed in the OFFICIAL LOAN OFFICER GUIDE are primarily used exclusively in conjunction with purchase money first mortgage loans with 30 year fixed loan terms.   Alt-A, sub-prime and non-traditional hybrid loan first mortgage loans types are strictly prohibited.

Bottom line?  There is hope, and it begins with this quick read, bare-bones approach to assisting the neophyte loan officer and veteran loan officer to better understand how such first time home buyer programs work in tandem with step-by-step processes and procedures and ways to pinpoint available programs in your borrower’s selected subject property city, town and/or surrounds.   Some first time home buyers may elect to buy (or not to buy) in a particular city or county based on the availability (or lack thereof) of first time home buyer programs. 

The OFFICIAL LOAN OFFICER GUIDE provides a fast track to inside knowledge regarding useful specialty programs created specifically to assist first time home buyers of low to moderate income on a NATIONWIDE scale.

There is a dearth of information available to educate loan officers on a nationwide scale about the many beneficial programs that are the focus of this guide.  As I complete the writing of my first book on this topic, it is my hope, desire and intention that the OFFICIAL LOAN OFFICER GUIDE: Below Market Interest Rate Programs – Down Payment Assistance Programs, First Edition, will serve to educate and empower you to help cash strapped first time home buyers produce tangible results in the form of new, affordable housing that falls within the budgetary means of all eligible citizens nationwide.

To you guys and gals in the mortgage finance trenches, you are amazing!  This book was written for you.  May you make many a first time home buyer and real estate agent happy, satisified clients by your effective utilization of the information contained within this book.

  

Best of luck to you all and happy down payment assistance hunting!

Esperanza J. Creeger

Author

www.FTHBGuru.com

First Time Home Buyer Programs

Esperanza Creeger currently resides in Dallas, TX. A mortgage industry veteran for 21 years and counting, Esperanza is currently working on her manuscript for film \”An Akashic Tale\”. Inquiries: Contact Ecreeger@hotmail.com or (469) 438-9659. Esperanza’s book “First Time Home Buyers’ Guide” is available for purchase at FTHBGuru.com 96 pages

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Florida Home Buyer Tax Credit Extension makes it through Congress

Florida Home Buyer Tax Credit Extension makes it through Congress

Florida Home Buyer Tax Credit Extension makes it through Congress

 

November 1, 2009

For Florida homebuyers this is great news! Congress both extended and expanded the First-Time Home Buyer Tax Credit program Thursday for Florida homebuyers.

The White House says the President will sign it into law.

The up-to-00 tax credit’s expiration date has been pushed forward to spring, requiring Florida homebuyers to be under contract before April 30, 2010, to take advantage and to be closed by June 30, 2010.

The program’s basic eligibility requirements remain the same:

Florida Buyers can’t purchase the home from a parent, spouse, or child Florida Buyers can’t purchase the home from an entity in which they’re a majority owner Florida Buyers can’t acquire the home by gift or inheritance All parties to the Florida purchase must meet eligibility requirements

The new law includes some notable updates, however.

For one, the definition of  Florida “first-time home buyer” has been expanded to include most homeowners with at least 5 years in their current Florida home. “Move-up” buyers like these are now eligible for IRS tax credits, but with a cap gain at ,500.

This means that you don’t have to be a true Florida first-time home buyer to claim the “Florida first-time home buyer tax credit”.

Other eligibility changes include:

The Florida homes sales price may not exceed 0,000 The Florida home must be a primary residence Income thresholds raised to 5,000 for single-filers and 5,500 for joint-filer

And remember, the Florida First-Time Home Buyer program grants a tax credit as opposed to a deduction. This means that a tax filer would receive a cash payment of ,000 from the U.S. Treasury if his “normal” tax liability totals ,000 and he was eligible for all ,000 available under the new tax credit law.

First Time Home Buyer Programs

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First Time Home Buyer Programs

Cash Home Buyers Program In Milwaukee

Cash Home Buyers Program In Milwaukee

Everywhere you go you can see signs that say we buy houses, cash buyers, and cash for your home. A home owner might be curious to know exactly how that works, and want to be reassured that there is no scam involved. The process is simple and makes a lot of sense. By coordinating with investors these companies have tremendous buying power that works to help homeowners who need to sell quickly due to a move, foreclosure, or other emergencies. Investors are looking for properties they can make a profit on and usually homes that need to be sold quickly can be bought at a lower price.

As a homeowner, there is a great benefit to this cash home buyers Milwaukee program. There are many homeowners who for one reason or another need a quick sale. The reasons range from needing to move, needing to get rid of an investment property, avoiding foreclosure, a divorce forced sale, or maybe a home has been inherited and it needs to be sold. Whatever the reason, this option is great for those who really don’t want to spend months on end waiting for a potential buyer. Those who buy the homes, want a deal, but are usually very fair and offer a great price.

For the investor purchasing homes through the cash home buyers Milwaukee program, gives the investor a great avenue to get great returns on their money. Reasons for quick sales are usually irrelevant and the benefit is being able to pick up an investment property for less money and it usually will include the repairs that may be needed to fix up the home. The fact that investors have a reputable company backing their investment helps them to feel better about themselves staying away from a scam. A little research and an investor can feel confident about their investment program.

The cash home buyers Milwaukee program really knows their stuff and the laws pertaining to these kinds of quick sales. While the benefit for the homeowners and the investors are great, it’s also nice for each party to know that they are doing business with a system that works and has been proven over and over. It’s also comforting for the parties to know that they are not alone in their transaction, that there is a whole group of people with experience and knowledge backing them every step of the way.

First Time Home Buyer Programs

When come to selling your house Fast! You need a local Professional in the area go to
http://www.SellHouseMilwaukee.com/

realestatemarketingthisweek.com – First Time Home Buyer’s Beware, Home sales double in last year – Part 5 – So we are back in studio today with Dan Havey. Dan and I have known each other for many years and we have worked very close over the years in real estate. Dan and I are not necessarily 100% in agreement with where the market is today and whether we are at the bottom or not. I tend to believe that we are. Let me tell you my thinking on this. Dan uses actual facts and figures to make his prognostications. Heres what I know, I know that Fannie Mae and Freddie Mac have put a moratorium on foreclosures. What that means is that they are slowing the supply of repos. What that means is that they are putting fewer homes on the market, which means the supply has been reduced to a 9 month supply of resale homes on the market. The builders are gearing up, getting ready to start building again, but they are not building again just yet. Thats a great indicator. Interest rates couldnt be better. They havent been better than they are now, so not only can you buy a house at the same price you would have paid for that house in 2002, but you are going to get a significantly lower interest rate then it would have been then. Effectively a house today is going to cost you less than it would in 2002, with the interest rate and the home value being what they were. Now if property values do continue to increase and the average rate of 4%, your internal rate of return on your investment will …
First Time Home Buyer Programs
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First Time Home Buyer Programs

Tax Credit for First Time Home Buyers – Down Payment Assistance – RealEstateMarketingThisWeek.com

realestatemarketingthisweek.com – Interest rates hit bottom, first time home buyers should buy before the prices go back up – Part 1 – We have a special guest back in the studio today. Dan Havey has been a great promoter for Velocity Financial . Dan and I have been working together for about 14 years now. Dan has brought with him some really, really interesting facts and figures for people who are wondering whats happening, wondering if we are at the bottom of the market, wondering how much further we are going to have to go. We are going to talk about lots of different things like that. Hes got some really good information, in my opinion some good stuff, some good solid data to make some good decisions about whether or not you should or should not buy right now. So, Today was the official day that President Obamas Plan was rolled out. It was designed to help some 8 to 9 million homeowners, responsibly homeowners they called them, people who purchased homes at the peak of the real estate market with 20% or more down. The plan is just so darned convoluted, it is very complicated, people are calling wondering whats real, whats not real, whats going to happen. The bottom line is about 19% of all the homes were financed utilizing Fanny Mae or Freddie Mac financing. People, who have Fanny Mae or Freddie Mac loans, these conventional type loans, that put 20% down, that used full documentation, which means tax returns to qualify for the loan, those are the only people that are …
First Time Home Buyer Programs

Visit www.slideshare.net to view and download this special report that highlights programs you may not have heard about. You will find that it IS possible to purchase a home with as little as 0 down. If you are in Minnesota, you can visit www.VentureLoanApp.com to begin to get pre-qualified for a loan or http to find begin an online MLS search to find a new home.
First Time Home Buyer Programs

First Time Home Buyer Programs

Home Buyer Programs: Break-down of a Mortgage Payment

Home Buyer Programs: Break-down of a Mortgage Payment

A mortgage payment typically consists of principal and interest; some people also pay escrow for property taxes and insurance.  There may also be an additional charge for PMI or private mortgage insurance.

Most people are surprised at how much of their payment is applied to interest and how little is applied to principal.  In fact, the largest part of your mortgage payment is likely to be interest early in the loan.

How it Works

Your mortgage payment break-down is always based on your principal balance; if you purchase a home and your beginning mortgage balance is 0,000, the interest rate is 7.5% and your monthly payment is 0.00 then your first payment will be applied as follows:

5 is interest

$  75 is principal

Calculated as follows:

Mortgage balance (0,000) multiplied by interest rate (0.75) = ,500 to get annual interest.  ,500 divided by 12 = 5 to calculate interest for one month.

The new principal balance is reduced by the applied to principal, leaving a balance of ,925.  Each month’s mortgage payment is calculated based on a lower principal balance; therefore, less interest is charged each month.

Equity

When you pay down the principal balance on your mortgage, you are building equity in your home.  Some homeowners choose mortgages with shorter terms and larger payments to build equity faster.

Considering the amount that is applied to interest early in the game, many homeowners choose to make larger principal payments as soon as they can to reduce the loan balance.  Shorter loan terms are not for everyone; be sure to talk to your real estate agent and loan officer about what options are available to you and which one would suit your individual needs.

Mark Goedert of Goedert Real Estate specializes in working with first-time homebuyers.  He assists his clients in choosing the right home and the financing that works best for them.  Home buyers who work with a Goedert agent are well prepared to make great decisions based on advice from an experienced real estate professional.  Visit http://www.under100000realestate.com/ to learn more.

First Time Home Buyer Programs

Mark Goedert of Goedert Real Estate specializes in working with first-time homebuyers. He assists his clients in choosing the right home and the financing that works best for them. Home buyers who work with a Goedert agent are well prepared to make great decisions based on advice from an experienced real estate professional. Visit http://www.under100000realestate.com/ to learn more.

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Popular Home Buyer Programs

Popular Home Buyer Programs

Which Popular First Time Home Buyer Programs Exist?

Apart from being an emotional commitment, buying the first home is a financial commitment as well. One needs to be informed about the first time home buyer programs offered by the United States Department of Housing and Urban Development. These programs are meant to support a first time home buyer financially. The mortgage insurance programs and state-sponsored programs assist in buying the home for the first time.

HUD Programs

One of these Home Buyer Programs is available as very low to moderate income housing loans. Those having their income below 50 percent of the area’s median income are eligible for these programs.

American Dream Down Payment Initiative is another program that has been launched by the HUD. Those who have not owned a house for the last 3 years are eligible for this home buying grant. The amount received through this grant can be used for paying the down payment, the closing costs or for home improving activities.

Non-profit Organization Programs

Apart from the government bodies, there are many non-profit organizations that operate first time home buying programs for families with low income. Habitat for Humanity and American Family Funds are some examples of such organizations that offer home buying grants to the individuals.

HUD Approved Programs

Also, there are many HUD approved organizations that have been assisting the First Time Home Buyers for past many years. Homes for All is one such organization that offers grants that can be sued for paying down payment and closing costs.

First Home Programs in Different States

Talking about the state-wise programs for the first time home buyers, there are many different programs existing for different states. For example, the Ohio Housing Finance Agency in Ohio provides the First-Time Homebuyer program. Similarly, there is a Start Program operated by the North Dakota Housing Finance Agency to offer loans to the first time home buyers.

Down Payment Assistance Loan program is operated by the South Carolina Housing Finance and Development Authority. Individual Development Accounts is a unique first time home funding program in the state of New Jersey. You can learn about such programs in your own state using online resources.

You must also be concerned to learn about the eligibility conditions to take advantage of these programs. Some of the programs require an individual to have a steady flow of income. Also, most of these programs are available only for the first time home buyers.

First Time Home Buyer Programs

Hi! I am Kelsey Willson. I am working as a Loan Officer & Financial Analyst at FirstTimeHomeBuyersloan.org. I love business blogging.

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