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How To Qualify As A First Time Home Buyer

In an effort to attract new residents, many states and cities offer first-time homebuyer grants and programs. The aid comes in the form grants that don’t have to be repaid or low-interest loans.

 · First-time home buyers tend to have lower credit scores than the general population. That’s okay. There are plenty of "first-time" loan programs to help.

Here are 10 first-time homebuyer programs and grants you should apply for before buying a house. Speak to a lender and check current rates. 1. HUD First Time Home Buyer Programs. You can check different first time home buyer grants in your state by going to the HUD website. You can also check your local county website for more information on first-time home buyer programs and down payment assistance programs.

Do I need to be a First-Time Buyer to Qualify? Many first-time buyer programs require at least one borrower who is a "first-time buyer," but that doesn’t mean you won’t qualify if you have purchased a home before. The definition of "first-time buyer" generally means a borrower who has not purchased a residential property within the past 3 years.

Rentals can fall through at the last moment, and sometimes the best-laid plans can leave you looking to buy a home when you.