When first-time home buyers successfully purchase and move into their homes in Maryland, Virginia, and Washington, D.C., the whole community benefits. Unfortunately, so many would-be home buyers commonly face a hurdle — the down payment. Thankfully, First Home Mortgage is here to help with all the tools and resources you need to buy your first home, hassle-free. Here are four things all first-time home buyers should know about down payment assistance.
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What Is Down Payment Assistance?
The first thing that first-time homebuyers may be surprised to learn is that there is more than one type of down payment assistance available. Some assistance plans provide below-market interest rates, while others allow you to receive up to 3% of your base loan as funds to cover down payment and closing costs. Find the program that is right for you when you contact First Home Mortgage today!
How Down Payment Assistance Works
Even if you have little or no money to put toward a down payment on your first home, down payment assistance plans can help! First Home Mortgage can help you find assistance programs at the state level in Virginia, Maryland, and DC. In some programs, this down payment assistance is paid out at or before closing on your home, and in other cases, they’re awarded as forgivable loans to be paid at closing.
Who Qualifies For Down Payment Assistance
The wonderful thing about having several different down payment assistance programs available is that it’s usually easy to qualify for one that works for you. Some programs are dependent on your credit score or income, while others will provide assistance regardless of credit. If you’re planning on buying your first house, there’s a good chance you qualify for a down payment assistance program!
Finding Down Payment Assistance is Easy With First Home Mortgage
First Home Mortgage makes finding down payment assistance simple. For over 25 years, we’ve helped countless first-time home buyers get into their first homes! When you pre-qualify for a home loan with us, your credit score is not affected, there are zero charges or fees, and you’ll easily discover the types of assistance you’re eligible for.
Are you ready to buy your first home? Contact First Home Mortgage today and we’ll help you get started in Virginia, Maryland, and Washington, D.C.!
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Testimonials
Patient & Helpful
Tammi was very patient and very helpful throughout the entire application process. Being a first-time home buyer I didn't know a lot of this which made me frustrated but I was able to get approved and now I am a homeowner thanks to Tammi!
— James C.
No Pressure or Stress!
Tammi Lewis made my home buying experience very easy. I felt no stress or pressure. Tammi was with me every step and made sure I understood everything with detailed talks. My credit score was low and Tammi advised me how to raise it. So that the Loan process would be approved with no problems. Any one know that wants to buy their first home I am recommending Tammi Lewis and First Home Mortgage.
— Charlie F.
Professional & Timely
Rob made sure my experience as a first time home buyer was smooth and painless. Very professional and got things done in a timely manner. Could not have asked for more!
— Samantha J.
Great Experience for a New Homeowner
Rob was at all times, willing to go over the numerous pages of information with me. I am a new homeowner and had many as this was my first time navigating the home-buying waters. He explained things to me in a way that I understood and got me all of my documents in a timely and efficient manner. I enjoyed working with him and would refer him to anyone who is looking.
— Erica F.