Home Buying in San Antonio>Question Details

Jennifer Low…, Home Buyer in San Antonio, TX

What is the prgram helps the most for first time house buyers?

Asked by Jennifer Lower, San Antonio, TX Fri Aug 31, 2007

My fiance and I are looking to buy a house within the next 6 months. We would like some help, if we could get it. I heard of programs for first time house buyers, but I don't know where to start? any Help?

Help the community by answering this question:


There are some pretty good resources out there for first time homebuyers. The city of San Antonio actually offers a HomeOwner Incentive. You can read more about that at their website: http://www.sanantonio.gov/nad/LendDiv/DownPayment/homeownerp…

Also, you might want to talk to a lender who deals with first time homebuyers. I was talking to a lender recently who explained a few programs for first time homebuyers, teachers, and other groups. Her name is Windy Minten, and her website is: http://www.windyminten.com

You might be able to give her a call--she's been doing this for over 30 years, so she knows what is out there, and who can qualify.

Good luck!
1 vote Thank Flag Link Fri Aug 31, 2007
Hi Jennifer,
What an exciting step for you and your fiance! I recommend calling a Bank of America loan officer and asking about their "Acorn" program for 1st time buyers. If you need the name of one, let me know.
2 votes Thank Flag Link Fri Aug 31, 2007
Interview lendors. Tell them your situation. Ask to see all the programs.
1 vote Thank Flag Link Fri Aug 31, 2007
Hi Jennifer:

Other than the usual find a great Reatlor to represent you (which we can go into details ot the benefits if you'd like); here is a great thread about first time home buyers loan - Despite what the paper said, there are still GREAT programs for first time homeowners (or even not first time owners - such as Jumbo Loan)

I have to qualify my answer in that thread that the Jumbo rate as specified does not exist anymore, but there are other options which make it attractive to home buyers.

Other than loan programs for first time owners, some title companies give breaks to first time owners also. There are also low cost housing at different areas, which can be specific to you location.

1 vote Thank Flag Link Fri Aug 31, 2007
Sylvia Barry,…, Real Estate Pro in Marin, CA

You might want to look into the Nehemiah Program as well. There are lots of things a good mortgage broker or lender could help you out with. I know that sometimes taking that plunge into calling a mortgage broker can be a bit nerve wracking, but here's my advice to you on that... a) find a lender that comes recommended to you by someone (whether friend, family, real estate professional, etc.) and b) try and remember that these people, are here to help you out. Mortgages can be a bit scary when they start throwing numbers around and terms that you may not be familiar with, remember to ask questions and don't be afraid to be honest and say exactly what you're not understanding or what you want explained more in depth. If someone doesn't want to take that time to explain things, find another broker or lender. A good professional one should be more than willing to make it all seem easy to you and make you a better educated consumer at the end of the day. I know mine did when I bought my first house and every mortgage broker I've used since then has had to live to that standard. Check the web reference below for a link to the Nehemiah Program and good luck in your search. Much like others on the site, I'd be more than happy to help you in your search or just to answer some questions, so feel free to contact me if anything pops into your head. Good luck in your search, it can be some crazy times, but when its all said and done, house buying is one of the most enjoyable experiences I've ever had.
0 votes Thank Flag Link Tue May 20, 2008
There ARE plenty of programs offered for 1st time home buyers. If you would be interested in a FREE counseling & mortgage analysis I would be happy to help you. I work @ the KB Home Finding Center in San Antonio,. Located on Fredericksburg & 410. Here we help homebuyers find the right home, the right community and the right loan. Please feel free to call me 210-430-2055.... We are now offering Zero down programs.
0 votes Thank Flag Link Mon May 19, 2008
FHA is still your best bet.
0 votes Thank Flag Link Mon May 19, 2008
Contact me, I have knowledge of a program that can help via a first class lender in the San Antonio area.
Hit me via email and I can provide help for you.


0 votes Thank Flag Link Thu Dec 27, 2007
HI Jennifer,

There are a lots of first home buyers offered by the county and city where you are living. Please check with the HUD office or the city's office so yu can get the excat information with the guidline for income limitation as well as available programs where you want to buy. You can search for FHA loans online and they will provide you the listing of qualified lenders who can give you the right answers to meet your needs. ACORN is an ecxcellent program byy Bank of America. You can checl Wachovia bank too they have offered a grant of 25000k for downpayment. I am working with lenders from CALFHA in California. Since you are in Texas, there are different programs for first time home buyers. This is the best time to apply for it since the fund started around October. I am not sure about the dateline in Texas. However, you need to apply and you are also required to attend the workshop to get the certificate for you to be eligible to apply for the loan. Some times they offer grant too so you don't have to pay back. Most of the time the loan is offerred from 30 to 40 years fixed and mixed that mean 5years of interst only and the rest is fixed. After the loan approved , you can start to select the house you like and tell your lender to submit the loan for funding. The process is faster now so you don't have to wait long for the loan to fund. Good luck. I hope my answer will help you in the search of financing help.
0 votes Thank Flag Link Thu Nov 1, 2007
Hi Jennifer, any professional mortgage broker will be able to help you with this. Good luck.
0 votes Thank Flag Link Sat Oct 20, 2007
Jennifer... You're making an EXCELLENT decision to buy right now! You've got your work cut out though as you will have more inventory and hundreds of SUPER deals staring you in the face as you go through the process.

As for your question, I don't think anyone here could give you an absolutely GREAT answer, because you procuring a mortgage can be completely case-specifc. For example: are you looking for no Down Payment loans, Flat fixed 30 yrs, Down payment assistance, 80/20 loans to avoid PMI? Several questions come to mind... not even including what your DTI (debt to income ratio) is along with FICO's are.

To be most helpful.... you will need to find a REALTOR that is extremely STRONG in Mortgage knowledge and then only find a highly reputable Mortgage Broker or Officer that you can TRUST and SEE and HEAR IN PERSON!!!! This is HUGE!! Some other agents here recommended a large CAP bank... be very aware that when you are just a number to these banks and the ONLY recourse to getting things done right is by caling 1-800 number... then you MUST strongly think about it before going through with it!

Personally... if I'm working with a mortgage officer and giving him the power to put me into a loan that is quite possibly one of the LARGEST financial decisions in my life..... I WANT TO KNOW.... that if things start to go wrong (delayed paperwork, wrong rate quoted, last minute point additions...etc.) I want to be able to personally go to that person and be able to put my hands around his/her neck!!! That way they they just can't run and hide all while leaving you stuck w/ a BAD loan!

Hope that helps!

Good Luck
Web Reference: http://www.jmbsa.com
0 votes Thank Flag Link Sat Oct 20, 2007
FHA backed loans were very popular many decades ago. The FED is making them attractive again. Interview lenders. Ask to see their different programs.
0 votes Thank Flag Link Sat Sep 1, 2007
I have had great success with Fannie Mae's "My Community" loan when utilized by my first time buyers. It allows 100% financing and includes 2 interest rate tiers, depending on credit and other qualifying information.
0 votes Thank Flag Link Sat Sep 1, 2007
I'm so sorry, but I just have to ask...why did we get a thumbs down for our answer???
Thank you for any guidance you can offer us.
0 votes Thank Flag Link Sat Sep 1, 2007
Hi Jennifer,
Just to let you know, I second the recommendation on asking about Acorn programs!
0 votes Thank Flag Link Fri Aug 31, 2007
Deborah Madey, Real Estate Pro in ,
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