First Time Home Buyer Programs Demystified

Dated: March 8 2016

Views: 1533

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I think at some point, we all wonder what first time home buyer programs are about...Do they really help me? Can I realistically Qualify?. . . .If I do qualify, what can they actually do for me?

Separating reality from all the rumors we hear can sometimes be difficult. I have consulted with lending experts that have the low-down on what you need to know to get started. 

1.USDA is a ZERO down and great for 1st time homebuyers in rural areas around Vancouver, there is a $83,950.00 income limit for Clark County 

2.FHA is 3.5% down and can use the down payment assistance programs mentioned in my previous blog which is also a great first time homebuyer loan.

3. The WA Bond Program requires you to take a homeownership class which you can do in person for free and it is about a 4-5 hour class or take on line for $50.00 per person. It does have to be repaid if you sell, rent the house, refinance the house or live in it for 30 years.   The household needs to make under 97K a year.

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If you want to get your pre-approval started -or- if you want to schedule an appointment with me to go over market trend or the home buying process, call Tara @ 360-787-6229 or start looking at homes today

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Megan Womack

Megan Womack came to Front Door Realty with over 10 years of customer service experience. She thrives on making sure our clients come first, is the ultimate people person, and makes friends everywhere....

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