anyone here know of any government programs for first time home buyers

[mesue]

Its not for me, its for my niece, she will have a difficult time I am sure; they have one income and two kids, (wages are not high in this area) hubby told me about a friend he works with who got a 5000.00 grant toward his down payment because he is a first time home buyer in Virginia (not sure if it is federal of state program). Anyway the guy can't remember the name of the program and isn't real interested in looking for it, so I was hoping someone here would know the name of the program. Oh and a loan company that is pretty easy to get a mortgage through and isn't real high interest. I know I am asking for the moon but it never hurts to ask. TIA

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[NINK]

you can get an ffa loan, and there is another company who helps with the downpayment and closing costs...can't think of it now but you really don't have to know anything, just get your self a real estate agent and they will know everything and they will even find you a loan officer if you need one. your loan officer will find out everything you qualify for, they will let you know what you'll be getting and what you'll need to come up with on your own. than they will tell you the general amount you are allowed to get...say 60,000. so than you real estate agent will only show you homes you can aford. they work together to get you in a home. the loan officer will also help you find your credit...say you don't really have any credit coming up on your report..we didn't when we went to get our first loan, just like 2 things came up. so our loan officer had us go to every one we had ever done business with and get them to write us letters of credit , we went to our landlord,cable co,electric,gas,water,phone,rent-a center,any place we could think of. they were all real nice and all wrote us letter. we gave it to the loan officer and he did his thing.

when you are looking at homes the price of the house may be in your amount your allowed but you might not be able to get it, when you go ffa the house needs to pass certain inspections, if it doesn't the owner must get it to code..if he wont than you cant buy it. also if the house has really high property taxes you won't be able to aford the monthly payments so they won't let you buy the house.

it's really alot easier than i ever thought it was. we bought a home it was 3 bed rooms 2 baths, very nice. it was only like 50,000 because it was in houston suburbs, would have been way more expensive here in ohio. any how the owner agreed to pay part of the closing costs(your real estate agent/loan officer handles asking them to do this) and so we gave him 52,000 for the house instead. we paid no down payment, we paid for the inspection and bug inspection, i think one cost like 500.00 i can't quite remember. than we paid 2,500 for closing costs.

one thing i remember you are not allowed to get a loan from any one to pay the closing costs or downpayment, if they do lend you money they have to sign a paper saying you do not have to pay them back, or they won't give you your home loan. i was like 500 short when i was about to close and my loan officer actualy gave me the money...which is illegal so shhhh! and i paid him back the next time my hubby got paid

hope this helps

[buckkelly]

Hi there, I might be able to help you out. You can email me at [email protected] I am a loan officer and deal with just about every state. I promise I will take care of your niece!!

Kelly

[buttrfli]

The USDA has an awesome low income loan program. The homes must be considered rural (they havea map) but some small towns qualify or homes right outside of the city limits.

http://eligibility.sc.egov.usda.gov/...ty/mainservlet