First Time Buyers
First time buyer programs are often geared towards helping individuals and families find away around the obstacle of a large down payment. FHA loans can help a low income family to find a loan that requires very little down and reasonable monthly payments. These loans are funded by a private lender but are insured by the Department of Housing and Urban Development (HUD) through the Federal Housing Association and provide fixed rate low interest loans for applicants who would not usually be able to qualify.
Sometimes first time homebuyers programs are more hassle than value. With the now increased variety of loans made available to consumers, the first time homebuyer has many more choices.
Please give your agent at United Mortgage Specialists a call, and let us help you make the right decision when you purchase your first home!
