First time home buyer information

First Time Home Buyer?
 You May Qualify Even If You Have Owned A Home!!
 There are a number of State and Federal programs geared towards helping First Time Home Buyers attain the American Dream of Homeownership. The problem with these programs is that many people don't realize that they qualify for them! Even if you have owned a home previously, it's quite possible that you still fit the criteria.
 Don't think you qualify as a First Time Home Buyer?? You may be surprised.
According to the U.S. Department of Housing and Urban Development, you qualify as a First Time Home Buyer if you meet any of the following criteria:
  • An individual who has had no ownership in a principal residence during the 3-year period ending on the date of purchase of the property. This includes a spouse (if either meets the above test, they are considered first-time homebuyers).
  • A single parent who has only owned with a former spouse while married.
  • An individual who is a displaced homemaker and has only owned with a spouse.
  • An individual who has only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations.
  • An individual who has only owned a property that was not in compliance with state, local or model building codes and which cannot be brought into compliance for less than the cost of constructing a permanent structure.
The Remodel New York Program helps First Time Home Buyers purchase homes in need of renovation with competive interest rates. With this program, the purchase of the home and cost of repairs are included in one mortgage.
The Achieving the Dream Program offers First Time Home Buyers smaller down payments along with low fixed interest rates.
The Dream Makers Program offers grants for down payments and closing costs to Active Duty, Reserve, National Guard or Veteran Military
FHA: Many First Time Home Buyers choose to apply for an FHA Loan due to the generally low interest rates. There are a number to choose from.
These are just a few of the many programs available to First Time Home Buyers. Give us a call and we will help you find the right one for you!! 315-858-2110
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