First Time Home Buyer Loans
By2010 has been a good year for Americans to get a first time home buyer loan for several reasons. First the silver lining of the housing crisis is that new home buyers were suddenly in a position to purchase a home at a discounted price. For the most part, 1st time home loans have been more affordable in 2010 than it had been in the previous five years. The other good news for first time home buyer loans has been that home mortgage rates were at all time lows.
Several government home financing programs enabled borrowers to finance a home with hardly any money down. The FHA first time home buyer loans were available to borrowers who could come up with a 3.5% down-payment. The VA home loan requires no money down, but borrowers need a militray backgroud for VA loan eligibility. The other bright spot for new homebuyers was the $7,500 tax credit for first time home buyers. Most industy insiders anticipate that low rat home financing will continue in 2010, but many are forecasting higher interest rates and tighter home loan guidelines in 2011, so if you are considering buying a home there could not be a better time!
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June 8th, 2010 at 9:10 am
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June 9th, 2010 at 7:49 am
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June 9th, 2010 at 8:06 am
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