First Time Home Buyer Assistance

As a first time homebuyer things can seem a little intimidating – there are so many different fees to pay, decisions to make, and usually about 10 or 20 people giving you “the benefit of their experience!” It doesn’t have to be difficult though, and there are a surprising number of companies and programs out there to make owning your first home a great experience.

The Bank Can Help

Sometimes the bank can have a bit of a bad reputation when it comes to mortgages. Before you listen to someone else’s bad experience however, it is always best to go and find out for yourself. Many banks are actually doing all that they can to put first time homebuyers in the house of their dreams – well, their affordable dreams that is! This includes helping with the down payment, which is something that a lot of people find it hard save for.

Can the Government Actually Help?

Everyone is used to the government taking their money, but do they really give back? The government doesn’t want people to stop spending, so they have made it very easy to buy a home. The government is offering different grants and loans and down payment assistance.

Your State Has Great Options

Every state has programs that are designed to help first time homebuyers in their journey towards their own home. These programs are very similar to what the federal government offers, including down payment assistance, special grants and loans, etc. There is one major difference between the help your state will give you and what the government offers: you are more likely to be approved by your state. When people think about government help, they are more apt to think about the federal than the state branch, and as a result, more people will be applying for help from the federal government.

Go Local

Take out your phonebook and look up your local independent mortgage specialists. There are thousands of these companies in every state, and they can offer a lot of assistance to prospective first time homebuyers. Many people go to their bank first, get turned down, and promptly give up on owning a home. Just because the bank says no, it does not mean that you have to put your dreams on the back burner. Visit your local mortgage business and ask them about their assistance programs.

If you want to own a home, don’t be afraid to ask questions. Passive people don’t get results, and asking for a better deal can’t hurt. You won’t always get what you ask for, but hearing the word “no” is the worst that could happen.