First Time Home Buyer? Mortgage Programs Designed Just For You!
So you are thinking of buying your first home? Congratulations! You are taking a big step that will help you realize the dream of many as well as build personal wealth. As a first time home buyer you should know that there are several programs available out there to help you get you into the house you deserve at mortgage terms that you can afford. Before you begin your search for your first home be sure you understand these programs and work with your mortgage lender to take advantage of them!
The biggest resource for first time home buyers is the Federal Housing Administration (FHA). They work by providing private mortgage lenders with guarantees (insurance) against the loan that you take out with them. They help home ownership become a reality for many who don’t have perfect credit or have the finances available to otherwise afford the hefty up-front payment sometimes required to buy a home. It is important to realize that they are not there to help you buy a home you cannot afford; they are there to help you to buy a home you can afford by providing guarantees and assistance up front....