First-Time Buyer Programs are under more and more pressure with all of the changes brought on by the collapse of the subprime lending market. First-time homebuyers are finding it more and more difficult to qualify for mortgages, but Do Not Give UP! There are first-time buyer programs still in effect.
We work with a half a dozen lenders. Lenders vary in the loan programs they offer. This is why it benefits you as a first-time buyer to contact us. With a little insight into your specific situation, we can recommend a lender with a loan program to meet YOUR needs.
One program currently available offers first-time buyers an interst rate deduction, 10 years interest only payments, and the remaining 30 years of this 40 year mortgage at a fixed rate. This lowered one client’s monthly payment by $800 a month – making it possible for this single woman homeowner to move into her first home.
There are special programs available for teachers, firemen, police officers and medical workers.
The number one action a first-time buyer can take to improve their chances of owning their own home is to establish a relationship with a reputable lender. Knowing your FICO Score and the amount of a loan you can qualify for help to put YOU in control of the home buying process.
Local Affordable Housing Resources:
Remember, as a home buyer it cost you nothing to use the services of a professional real estate agent. The home buying process can be complicated and overwhelming – using a professional Realtor can greatly reduce the hassle-factor and confusion.
Email us – or call 925–984–4910 – or use the IM widget to the right.
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[...] One of the toughest challenges facing first-time homebuyers these days is coming up with a down payment. Most homebuyers do not have tens of thousands of dollars in their savings accounts, and as lending standards continue to tighten, these buyers may be unable to enter the market. Fortunately, there are means of making a down payment other than raiding the nest egg. [...]