First Time Home Buyers Save Money with Special Programs

First Time Home Buyers...
Save Money with Special Programs

First time buyers have an abundance of programs available in the Salt Lake City area. Most programs are limited based on the participant's incomes. However, these limitations are normally generous and a majority of first time buyers can take advantage of these programs. Some of the available programs are:

Down Payment Assistance:

Community action agencies oversee this program. This program helps families by providing them grants for the down payment and closing costs for the purchase of a home. These grants generally do not require repayment.

Bond Money:

Through the sale of government bonds, local areas raise money so that 1st time borrowers can buy homes at a lower interest rate. These rates are typically 1.5% below the going rates in the market. On an $80,000 house the difference in the monthly payments could be about $80 because the buyer pays a lower interest rate. The savings can be thousands of dollars over just a few years. There are state, county and city wide issues of these funds.

Mortgage Credit Certificates:

Perhaps the best program of all, the mortgage credit certificate offers buyers a rebate on part of the interest on their home loan! The benefit comes in the form of Federal tax credits and you can take advantage of the extra money every month by adjusting your tax withholding. This program can also help qualify you for a nicer home than you might normally be able to afford.

Lower Down Payment Programs:

Participating lenders allow buyers to buy homes with as little as 0% down! This is far better than the "normal" down payment required to buy a home. With certain lenders, I can eliminate your closing costs too.

Program limitations:

The above programs are generally available to people who have not owned a home in the past three years. Program availability varies. Some programs cannot be used in conjunction with other programs and not all programs may be available at the same time. Call me for an update on what programs are available and best suit your needs.

Special Help for First Time Buyers:

I take special care of our clients, especially my first time buyers. I will help you all the way through the purchase and closing of your home. I will assist you in finding your home, negotiating the price and terms, finding suitable financing, inspections and closing. I have helped many 1st time buyers find the perfect home. IMPORTANT: I can help you buy any house on the market with any Realtor®. Please call me at (801)205-3500 or (888)898-9502.

Thank you for visiting my web page, I am happy to be able to serve you.

If you would like to take advantage of available first time buyer programs and work with a competent agent who cares, please contact me via E-mail or call me at (801)205-3500 or (888)898-9502

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