First Time Buyers Program

Many people dream of owning a home but the home loan process can be confusing for many first time home buyers. With first time buyers and multiple home loan options you can find best home loan for you.

First time home buyer programs can offer lower interest rates, low down payments and reduced taxes. 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.

Advantages
. Lower down payment.
. Easier to qualify.
. Sometimes you may get lower rates.

Disadvantages
. May be subject to income and property value limitations.
. Some programs which have government subsidies may have a recapture tax if you sell the house too early.