This is good for first-time home buyers because FHA loans allow for a low down payment of just 3.5%, which can help a household with good income but less-than-optimal savings move from renting.

 · If my name is on the deed but the mortgage is not do I qualify as a first time home buyer under the 8000 tax c Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

If you’re a first-time home buyer and Alabama is your sweet home. They can answer questions, identify target areas, calculate the assistance you can get and help you apply. After that, it’s time to.

Here are the 14 most common mistakes first-time buyers make. Just because you can qualify for a $300,000 loan, that doesn't mean you can.

This isn’t the first time Amazon has entered the real estate. The company stressed that buyers can use the gift cards.

 · First-time home buyer: employment challenges. For example, first-time buyers tend to have less money saved for a home down payment. They often carry a collection of student loans and other debt, which makes budgeting for a household difficult. They also face hurdles with their employment history (or, lack of).

Am I a First-Time Homebuyer? A First-Time Homebuyer is someone who has not owned a home for the past three years. If the house you are buying is in one of the designated Urban Target Area neighborhoods you do not have to be a first-time buyer, however, you cannot own any other houses.

Fha Loan Fixed Rate Points for 80% LTV loans rose to 0.24 from 0.17, and the effective rate increased from last week. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA rose to 4.12%.

If you are a first time buyer, you may qualify for help for the down payment for the FHA loan. There may be grants available from your city, county, or state. You must apply for the grants in order to receive them, though. If you are starting over again, after a foreclosure or bankruptcy, consider yourself a first time home buyer.

Determine if you can qualify as a long-term resident home buyer. The IRS defines residents who have lived in their homes for longer than five years as long-term resident home buyers. long-term residents also quality for first-time home loan credits, which makes banks more willing to give you a loan through a first-time home loan program.

Best Mortgage Lenders For Fha Loans Finding the Best FHA Lender. BestFHALender.com is a one-stop shop offering useful information about FHA loans. This site is operated by Starboard Financial, which provides a range of residential mortgage loan.