First Time Home Buyers

First time home buyers are a large share of the market. As home values have back pedaled and rates remain low the first time home buyer can buy the house today they could not have hoped for 4 or 5 years ago. Property taxes have stopped their rapid rise as well allowing first timers the opportunity to purchase. Some of these buyers will use FHA financing because this allows a small down payment of only 3.5% of the purchase price. This money can be gifted from a parent as well. Many veterans returning from overseas are finding that VA financing is the way to go. VA allows for 100% financing to qualified veterans. On a conventional purchase for those with good credit as little as 5% down is needed today. If you have savings available you may want to put 20% down and avoid monthly mortgage insurance premiums. Get pre-approved and work with a skilled Realtor and find your dream home!