First Time Home Buyers
The first time home buyer is someone I have a lot of experience in serving. Because they haven’t gone through the home buying process, I usually spend a lot of time educating first time buyers about what to expect and what to look out for.
Historically there have been some programs available to only the first time buyer, and although the FHA mortgage isn’t exclusively available to the first time buyer, this is the program that most often makes a lot of sense for them.
The first time buyer usually has the problem of cash for the down payment, and the FHA loan is the most flexible option for keeping that down payment super low.
Additionally in 2009, there have been some amazing tax incentives for first time buyers, such as the $8000.00 first time home buyer tax credit. This is literally a check to you from the IRS in the amount of $8,000.00. If you stay in the property for 3 years you will not have to pay it back.
