Let’s Face it! Buying your first home can be challenging and confusing. But know that there is help. There are down payment assistance, loan programs, State/County tax breaks designed around First time Home buyers. Generally a person is considered a First time Home Buyer if he/she has not owned a home for past 3 years. Fidelity Direct Mortgage, LLC (FDM) offers
FHLB (Federal Home Loan Bank) Grant
Most county Grants
FDM FHA 100% Financing
Home Possible/Homeready loan programs that reduce Mortgage Insurance and offer better interest rates
Community Lending Agency loans through our partners/investors
And many other resources
Most important thing is to discuss your options with a Licensed mortgage professional. Decide what payment you are comfortable with, generally if the mortgage payment is close or slightly higher than rent – purchase is a better financial decision. Location matters! What are your long term plans? School, access to highways, Community, Shopping, walking trails, parks – what is important to you? Always check with County zoning as to what may be in store for next phase of city/county planning.