There really isnâ€™t any "first time homebuyer" programs out there that I'm aware of. There is a NSP, Neighborhood Stabilization Program that you can get up to $15,000 for down payment and closing costs assistance. You will still have to pay 1.75% for down payment get certified for the funds and the process takes over 60 days once under contract.
For more information: http://www.chandleraz.gov/default.aspx?pageid=640
Also, because you're a first time homebuyer and I'm not sure what price range you're looking in or would be qualified for, but properties that are $200K and under move very quickly, the inventory is not what it use to be and Sellers are less likely in this market to give closing costs credits because they move quickly and in many cases get multiple offers. You may be competing for properties with other cash or conventional buyers and they are preferred right now. All the best!... more
Michael i see alot of people giving advice on loan modifications, however you should know that they are only giving loan modifications if you can show a financial need such as you are behind in your payments or you have an adjustable rate which has increased. It is always worth a try. good luck... more