Mortgage Programs for First Time Home Buyers

Everyone likes a bargain.  Even First-Time Home Buyers!  The simple definition of a first-time home buyer is someone who has not taken a mortgage interest deduction in the last 3 years.  It's not surprising that first-time home buyers are beginning to take notice of current housing prices.   

Lending standards are getting stricter (larger down payments, higher FICO scores, etc.) as the foreclosure rates rise, causing housing prices to fall dramatically.  First-time home buyers are now becoming the beneficiaries in our declining housing market.  First-time home buyers who have strong credit histories and at least a 3% down payment are in a great positioned to buy right now.  With relatively low mortgage rates, buying a home becomes a lot more affordable. 

There are several programs I recommend to help most of my first-time home buyers buy their first home.  The three programs I most often recommend are FHA, ACORN and CalHFA.  To learn more on any of these programs, please click on the programs below. 

 FHA: Federal Housing Administration Loans. 

   ACORN

CalHFA

CalHFA:  CalHFA is a California Bond Program.

For More Information on These First-Time Home Buyer Programs, Please contact me and/or also read:

• FHA Loans: The First-Time Home Buyers Loan of Choice!
• The ACORN Program - Not Just for Fisrt-Time Home Buyers 
• CalHFA: A California First TIME Home Buyer's Prgram With Up to 100% Financing
• FHA and the Nehemiah Down Payment Assistance Program!
• Finding a Mortgage: Ten Tips for First Time Homebuyers
• Dear Mr. Borrower Applying for a Mortgage
• Purchase? Mortgage Refinance? Are you Ready to Lock?

You can find AJ Nisen on Active Rain at Contra Costa California Mortgages or at Bank of America Mortgage .  Call AJ to talk about your Mortgage, Mortgage Rates, Free Credit Report or visit AJ's website to use his mortgage calculator. 

Alan 'AJ' Nisen
Mortgage Loan Officer
Email: aj.nisen@bankofamerica.com
http://mortgage.bankofamerica.com/ajnisen 
http://www.activerain.com/ajn