Use 100% gift funds to pay closing costs.Get closing cost assistance from your lender.Use a roommate or rental income to qualify for the loan.Qualify with lower income or poorer credit.Perks of these first-time home buyer programs can include: As such, they have special concessions to help those with bigger hurdles to clear - like lack of savings or lower income. Loan programs that require home buyer education are generally geared toward first-time buyers. It can actually help you qualify for more affordable loan programs, too. Taking a first-time home buyer class doesn’t just give you textbook knowledge. Find first-time home buyer programs (Sep 26th, 2021) First-time home buyer classes and their perks In other words, these courses can make it easier and cheaper to buy a home.
Plus, home buyer classes can get you access to loans with lower down payments and flexible rules for credit and income. Taking a first-time home buyer class can help. Up to 65% of people polled felt like they didn’t have a handle on things like the mortgage process, loan types, or interest rates - information that can save you thousands when you buy a house. Home buyers up to age 23 (blue) and 24-38 (green) don’t feel confident about:Ī recent poll by Freddie Mac showed that first-time home buyers (as well as young, aspiring home buyers) have a lot of questions about how to buy a house.
