First Time Home BuyersBack to Mortgage Answers Buying your first home is easier than ever before! During the last decade, home sales in most parts of the United States took an unprecedented downturn.  With a backlog of inventory on the market, along with the need to keep the economy moving in a positive direction, many new financing programs and creative methods of purchasing homes have been created.  As a result, it is now easier than ever to purchase a home, and first-time homebuyers are comprising a larger percentage of these purchases than ever before.   A great number of government programs have been created to assist the first-time homebuyer in financing their first home.  Some of the programs provide tax incentives, while others help the first-time homebuyer by lowering income or down payment requirements.  These programs may vary from one region to another and it's sometimes hard to determine which ones you are eligible for and which ones will be most advantageous to you.  Give us a call and we will help you find the right program for your situation. Lending institutions have also made strides in recent years to benefit new home buyers.  For instance, they may now allow higher debt-to-income ratios and be able to assist in ways to work around less than perfect credit.  Lenders may also allow gift funds from a relative, or even the seller to be used toward the down payment of your first home.  The amount required for a down payment has also been reduced for many loan programs. So, as you can see, there are a wide variety of first-time homebuyer loan programs available today.  However, only one program may be the right one for you.  Contact us and you can be on your way to owning your own home sooner than you ever thought possible! Return to the Mortgage Answers Main page