First Time Homebuyer Program
What is a First Time Buyer Loan?
Many people dream of owning a home, but the home loan process can be confusing for many first time home buyers. New Direction Capital offer first time buyers many home loan options and assist you with finding the best home loan for them. First time home buyer programs can offer lower interest rates, low down payments, or reduced taxes.
FHA Loans for First Time Buyers
First time homebuyers often experience the most difficulty finding a significant down payment , but this challenge can be overcome. Everyone should have the opportunity to buy a home.
For this reason the Federal government has developed two loan programs to assist homebuyers that have a little or no down payment. While these programs are not solely intended for first time home buyers, we will be able to determine if you qualify and if so which program is acceptable for your needs.
Who is Eligible for a First Time Buyer Loan?
First time home buyer programs are designed to help borrowers who may not have enough money to pay the full cost of the down payment or the closing costs on a mortgage. These programs make obtaining a mortgage more cost effective. There are even programs specifically for residents of each state. First time home buyer programs are available to those who have not owned a home for the past three years.
Contact New Direction Capital for more information.