What incentives are there for first time home buyers?

Now is a great time to buy in NJ. Prices are lower than they have been in years and first time home mortgage programs are on the rise again. Ten years ago first time buyer programs were everywhere. It was most of my customers base because the loans were so low it was cheaper to buy than to rent. Well, that time has come again. This past Tuesday I was speaking to my loan officer and he said first time home buyers are getting loans well below market value (4.75%). If you apply for an FHA loan you can do even better. A first time buyer needs little money down and an average credit score. Look at www.myfhahomeloan.com/ for specific requirements and also check with your local banks for good programs.

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