2 Comments February 26th, 2009

Are there any special (or cheap) home loans for first-time buyers?

Stephen T asked:


I’m not low income, just looking to buy my first home. Are there any options from HUD or whatnot for low-interest loans for first-time buyers?

I’m pre-approved for 150,000 and have 30,000 for a down payment saved – but is there anything better since this is my first time?

Thanks.

This entry was posted on Thursday, February 26th, 2009 at 10:09 am and is filed under Home Loans. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

2 Responses to “Are there any special (or cheap) home loans for first-time buyers?”

  1. h.h.stevens Says:
    March 1st, 2009 at 3:35 am

    America’s housing bubble is rolling over. If you are willing to wait 2-5 yrs, you will save a lot of money in my opinion.

  2. godged Says:
    March 4th, 2009 at 3:07 am

    There are some fabulous FTHB programs out there. Check with local lenders and see what you find.

    Don’t forget to check the whole loan package, get a good faith estimate of closing costs, pre-payment penalty, etc. comparing just interest rate can cost you THOUSANDS of dollars.