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The question is pretty vague, but I will try to provide you a detailed answer.
The most important thing about buying a home for the first time is choosing the right mortgage program.
Most of the times when a home buyer starts his house hunt, he goes like "well, I have saved money for years and i can buy whichever house I want." But that is not how things work here.
You cannot afford to spend all your money on buying a home and deplete your budget when it comes to paying bills, home repairs and other monthly costs.
How to avoid this this situation?
Go to a mortgage lender. He will determine your actual financial situation and help you choose the house that suits you best.
One more thing, when you consult a lender, you will often hear "you either pay 20% down payment or we wont grant you any loan."
This is not true!
There are several first time home buyer loan programs(FHA, VA, USDA, Conventional 97) that provide you loan for low or no down payment at all.
Then there are programs like VA, USDA which give you an option of loan with zero down payment. However, both these loans are limited to a particular class each. (VA for US Military veterans and USDA for those looking for a property in Rural/Suburban areas).
On the other hand, FHA and Conventional 97 loan are accessible to anyone for a small down payment. FHA requires 3.5% while Conventional 97 Loan requires a down payment as low as 3%.
So when you start you house hunt, determine you financial condition and go for the loan that suits you best, rather than spending all your savings on a "Dream Home" that will leave you with a depleted budget.
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What grants are available for first time buyers?
There are many grants that will help first time buyers. They begin with first time home buyers, even go to first time pool buyers.
What is first time home buyers credit?
First time home buyer's credit will not prevent you from getting a home loan. This credit is intended to help first time home buyers. You can check with your lending company to get more information.
Can a condo be a first time buyers home?
Yes.
Is there a first time home buyers credit?
You can find information regarding first time home buyers credit at the following website...www.irs.gov/newsroom/article/0,,id=186831,00.html or www.zillow.com/.../is-first-time-homebuyer...credit.../436914/
What is the Homebuy direct scheme?
Homebuy direct scheme is a shared equity scheme supported by the government t help first time home buyers afford their home ownership. They have helped up to 10,000 first time buyers.
first time home buyers grants?
How do I qualify for a first time home buyers grants
What grants are available for first time buyers?
There are many grants that will help first time buyers. They begin with first time home buyers, even go to first time pool buyers.
How are first time buyers defined?
First time buyers are defined as an individual who has never owned a home before. If one partner of a married couple has owned a home before, but the other has not, they are both considered first time buyers.
What is a good investment for first time home buyers?
A home.
What is first time home buyers credit?
First time home buyer's credit will not prevent you from getting a home loan. This credit is intended to help first time home buyers. You can check with your lending company to get more information.
Can a condo be a first time buyers home?
Yes.
is there i chip grant available for first time home buyers?
is there a chip grant available for first timer buyers
what kind of grant could a first time home buyer?
could i get a grant for a first time home buyers
What should first time home buyers be aware of?
First time home buyers should be aware of extra costs associated with homeownership. Costs like landscaping and home maintance can add up.
Is there free grant money for down payment and closing fees for first time home buyers?
is there free grant money for down payment and closing fees for first time home buyers
What is the amount of the first time home credit for a first time home buyer?
First time home buyers get a $8,000 tax credit for a home contract signed by April 30, 2010 (completed no later than June 30, 2010). Repeat buyers get a $6,500 tax credit.
Where can one get a loan for first time home buyers?
First time home buyers have many options when seeking a home loan. Some online resources include Quicken Loans, VA Mortgage Center, Realtor, and HUD.
