Jonathan, Thanks for the question. As a first time home buyer there can be several grants you may be able to obtain. Most are income qualifying and require you to purchase either in certain areas and certain homes. Everything depends on your financial circumstances and past borrowing history. If you are a veteran, there may also be other forms of assistance and some with no down payments needed. You would need to talk to a trusted loan professional and give him/her your information. Some areas may have USDA assistance where you come to the closing table with less money. Lastly if you do not have 20% to put down then you would being using an FHA loan which allows you to only put down 3.5% of the purchase price plus be able to ask the seller to pay seller concessions up to 6% of the purchase price. Without knowing your specifics that is all the information I can give you.
I would be glad to recommend local loan professionals to get you pre-approved, which will give you a better idea financially where you stand, or speak to you further about the home buying process.
Feel free to contact me today and I will be glad to answer any questions you may have. Call/txt me at 585-236-7780 or email me at BradNewton@remax.net or http://www.Brad-Newton.com
Have a Great Day,
Certified Buyers RepresentativeÂ®
Seniors Real Estate SpecialistÂ®