Assistance For First Time Home Buyers
REM # F621
By Ilyce R. Glink
Summary: A future home buyer is curious about government programs to help first time home buyers. Ilyce states that the department of Housing and Urban Development (HUD.gov) has an excellent website that explains many of its special first-time buyer programs.
Q: Hello, I've heard that the government has programs to help a first time
home buyer with the down payment, and what’s the limit?
If so can you e-mail me a list of this info, or where I may find it? Thank
you.
A: The programs that exist for first-time buyers are generally local, not federal.
Check with your local housing authority, local housing council and even local
non-profit housing agencies to see what is currently being offered.
Typically, you'll find programs that buy down the interest rate on a loan, or
assist with down payment funds. You might also find a zero down payment mortgage.
The department of Housing and Urban Development (HUD.gov)
has an excellent website that explains many of its special first-time buyer
programs. I encourage you to start there, and then call your local housing authority
for more information.
NOTE: This column is distributed by Real Estate Matters Syndicate, PO Box 366, Glencoe, Illinois, 60022. This column may not be resold, reprinted, resyndicated or redistributed without written permission from the publisher.
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