Assistance programs for first time homebuyer’s down payment and closing costs
- Low or zero interest loans to offset down payment and closing costs – these have no payment and are paid back in most cases upon sale or refinance
- First time buyers –you must be able to prove you have been renting for three years or are a displaced homemaker
- Income limits – vary with the program but most are household income below 80% area median income
- Geographic restrictions –each program has their own
- Single family homes or condominiums –must be in safe and sanitary condition
- Primary loan must be a 15 or 30 year fixed rate loan – usually conventional
- Me – I am a mortgage broker specializing is first time buyer assistance programs, conventional purchase and refinances for twenty two years. Please contact me to find the best financing for your borrowing needs.