Home Buying in Albany>Question Details

Motherbear67, Renter in Albany, OR

What type of programs do you have for first time buyer?

Asked by Motherbear67, Albany, OR Mon Jan 24, 2011

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Attending the Willamette Neighborhood Housing Home Buyer Education http://(www.w-nhs.org) can give you some access to down payment assistance programs, as well as grant programs. These are limited by geography to some extent, but you may find them helpful and the information you'll learn in the class will help you in so many other ways.
FHA loan programs can get you into a home with as little as 3.5% down payment and some of the foreclosure homes actually offer other financing options (one is called Home Steps) that offer a 3% down payment and assistance with closing costs.
Working with a knowledgeable agent, and a mortgage professional that you like and trust can get all your specific questions answered in ways that you are SURE to understans.
0 votes Thank Flag Link Sun Jan 22, 2012
Also do your own homework and see if there are local, county, or state first time buyer assistance programs, and first time buyer would be anyone that has not purchased a home in the last 3 to 5 years depending on area!
0 votes Thank Flag Link Mon Jan 24, 2011
Depends on your area. There are no down payment programs and programs with little down. You do have many options even though many people will tell you otherwise. Your 100% programs will be USDA Rural Housing, VA (Veterans Admin) loans and state run programs. Then there is FHA which you can do with 3.5% down. All depends on your situation.

Hope this helps and gets you started.

Jeff Onofrio
http://www.whatisyourrate.com
0 votes Thank Flag Link Mon Jan 24, 2011
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