16 First-Time Home Buyer Programs [2024]
Вставка
- Опубліковано 3 чер 2024
- Today's current mortgage rates: homebuyer.com/mortgage-rates
In this video, Dan from Homebuyer.com introduces 16 ways for first-time home buyers to purchase a home with little to no down payment, emphasizing that low or zero down payment options are financially safe and can expedite home ownership. The options include various government-backed and specialized mortgage programs that cater to different needs, including HomeReady, Home Possible, Conventional 97, FHA loans, USDA loans, and VA loans, each designed to make buying a home more accessible. Additionally, Dan discusses cash grants, special programs like the Good Neighbor Next Door, and proposed legislation that could further assist first-time buyers. The video highlights that these programs are designed to reduce the financial burden on first-time buyers, debunking the myth that a large down payment is necessary. For more details and live mortgage rates, viewers are encouraged to visit Homebuyer.com.
LINKS
Conventional Mortgage: homebuyer.com/learn/conventio...
USDA Mortgage: homebuyer.com/learn/usda-mort...
VA Mortgage: homebuyer.com/learn/va-loans
FHA Mortgage: homebuyer.com/learn/fha-loans
Home Ready: homebuyer.com/learn/homeready
Home Possible: homebuyer.com/learn/home-poss...
Biden $15,000 Tax Credit: homebuyer.com/learn/15000-fir...
DASH Act: homebuyer.com/learn/dash-act
Downpayment Toward Equity Act: homebuyer.com/learn/25000-fir...
HELPER Act: homebuyer.com/learn/helper-act
HUD.gov listings: www.hud.gov/buying/localbuying
TIMESTAMPS
0:00 First-Time Home Buyer Introduction
2:54 Low and No Down Payment Mortgages
9:06 Cash Grants, Down Payment Assistance, & Forgivable Mortgages
14:30 Congress & First-Time Home Buyer Legislation
17:26 Final Notes
ABOUT OUR CHANNEL
Homebuyer.com is the mortgage company for first-time home buyers, and this is our UA-cam. This channel provides straightforward advice for first-time home buyers about mortgages, real estate, first-time home buyer programs, and more. We cover important topics, including how to get approved for a low-down payment mortgage, how to get a better mortgage rate, and the grants and programs for first-time buyers today.
WHERE TO FIND US
Website: homebuyer.com
LinkedIn: / homebuyer
Office HQ: 230 Findlay Street, Second Floor, Cincinnati, OH 45214
LICENSING AND DISCLOSURES
Homebuyer.com is powered by Novus Home Mortgage, a division of Ixonia Bank, NMLS 423065. www.nmlsconsumeraccess.org The content in this advertisement is for informational purposes only. Homebuyer.com is located at 230 Findlay Street, Cincinnati, Ohio 45214. Call Homebuyer.com at 513-824-8171. Novus Home Mortgage, a division of Ixonia Bank, is located at 20225 Water Tower Blvd, Suite 400, Brookfield, WI 53045. Reach Novus Home Mortgage by phone at 844-337-2548. We have no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the US Department of Agriculture, or any other government agency. US Government agencies have not reviewed this information, and this site is not connected with any government agency. Equal Housing Lender. Mortgage applicants are subject to credit and underwriting approval. Not all applicants will be approved for financing. The receipt of an application does not represent approval for financing or an interest rate guarantee. Restrictions may apply, contact Homebuyer.com for current rates and more information. All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Homebuyer.com does not guarantee the quality, accuracy, completeness, or timeliness of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error-free. Third parties may have provided some information in the publication, which Homebuyer.com has not necessarily verified. Homebuyer, its affiliates, and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.
LEARN MORE ABOUT HOMEBUYER.COM
About Us: homebuyer.com
Mortgage Statistics: homebuyer.com/research/mortga...
Today's Mortgage Rates: homebuyer.com/mortgage-rates
Happy Homebuying
![The $15,000 First-Time Home Buyer Tax Credit Act of 2024 [NEW!]](http://i.ytimg.com/vi/c2c_unhk9qo/mqdefault.jpg)
I found this information useful. Thank you!
Hi, @sterlingmoore1603. You are welcome. -Dan at Homebuyer.com
Most down payment programs won't let you buy anything nice. In my area, the really nice houses start at around $250,000 to $350,000 which exceeds the price for many of these assistance programs.
Also, with the current housing crisis you'd think there would be more assistance for more affordable housing options like mobile homes but nope. I've been looking at gorgeous mobile homes but unfortunately there's little to no assistance for first time homebuyers who can only afford a mobile home.
Most home buying assistance programs are waaaay too restrictive with their property requirements.
THANK YOU SO MUCH FOR THE INFO
Hi, @brandyvaughn1. You are very welcome. -Dan at Homebuyer.com
Thanks man
Great information. Thank you for sharing
We here 🙌
Where is the link for the HUD website that lists local and state DPA programs?
Hi, @michaelapatton. Good catch. It's added to the description now. Thank you for letting me know I left it out✌️ -Dan at Homebuyer.com
Problem is I made 104k last year so i probably dont qualify and where we live with a 0% or less than 20% down the mortgage will be over 3-3400 a month which is out of reach considered 45% of my pay is deducted for taxes insurance ect. And i am a laborer cant work remotely so if i moved to a cheaper area the salary would also be lower. So another 2 years of saving we will have enough for 20% down… it sucks out there now. Wish i started my career a little earlier but was just getting started at end of 2019 before it all went to shit…… 😞😞😞😞
Hi, @subiene4844. It sounds like you'd benefit more from lower mortgage rates compared to saving more for a down payment. A 1 percentage point drop in rates would lower your monthly payment roughly 10%. Waiting to buy a home means your downpayment is larger, the home price goes up, and you're not guaranteed that rates will be lower anyway. It sounds like you're a candidate for paying discount points or using a temporary buy down. -Dan at Homebuyer.com
I made $105k and actually did fall just below income threshold in Central nj area. Would love to qualify for usda
Can I use any of these programs with a co signer that already has a home?
Hi, @drebrown6098. Many of the bills require that the home buyers be first-time buyers who will occupy the home within 60 days of settlement. A co-signer generally fails to meet these criteria. -Dan at Homebuyer.com
How many of these could be used in conjunction with each other as in, could you use the VA Loan-NHF-DASH Act???
Hi, @tylerwaters9090. Any and all! -Dan at Homebuyer.com
Do we need to live in these homes as our primary residence? Or can we rent it out? Do levels of consanguinity matter? Or does renting it out with familial relation not matter for these type of loans? If it must be your primary residence can you show me where in government code or statues it defines "Primary residence"?
Hi, @GoodVibessoo. Yes, nearly all of the programs require that the first-time home buyer make their new home their primary residence, which is generally defined as living there at least half of the year, and filing federal taxes with the property as the main address. -Dan at Homebuyer.com
Whats a good program for a single person who looking to buy a house
Hi, @jeromelove1284. First-time home buyer programs can be used by single and coupled buyers. There are no restrictions there. -Dan at Homebuyer.com
Looking for a first time home for my family. I have land and want a 135,000 double wide but have no idea what I need to save extra
This helps alot. My mom just kicked me out 😂
Hi, @jerryhernandez2759. You got this! -Dan at Homebuyer.com
Are you a realtor? Why are you providing this? Who can we work with to purchase a home with these programs?
If conventional 97 has no restrictions, why would I consider any other option?
Hi, @dialecticalmonist3405. You asked two questions. Homebuyer.com is a mortgage lender. We help home buyers get mortgage loans. Regarding Conventional 97: mortgage rates may not be as low as for other low down payment loans such as HomeReady or Home Possible. -Dan at Homebuyer.com
Do you guys own a program that is hands on with helping people
Navigate through the purchase of their first home
Hi, @lilfadeawayLA. Yes - we have people who can help. -Dan at Homebuyer.com
why arent these programs consolidated by ONE entity?
Hi, @wwahyyy2035. Some of the programs are federally coordinated. Some of the programs are state or local government-coordinated. Some are run by local charitable organizations. -Dan at Homebuyer.com
@@HomebuyerMortgage sounds like alot of wasted inefficient method/ manhours in funds allocation. are there private enterprises that consolidate and give 1 grant program for firsttimers?? easy to track. easy to manage. the first company who can acomplish that is going to be the google /meta of real estate market
wow