Buying your first home is a huge step, but it doesn’t have to be stressful. These days, state and federal programs exist to help home buyers like you secure competitive-rate loans — and they can connect you with plenty of resources on financial incentives, tax credits and federal assistance that can reduce the cost of your home mortgage.
Here are 5 of the best loan options for buyers seeking to enter the housing market:
Federal Housing Administration (FHA) — First time home buyers can get approved for as little as 3.5% down.
HomeReady and HomePossible — 3% minimum down payment, reduced rates and private mortgage insurance for certain buyers.
DC Open Doors — on-amortizing down payment assistance loan at 0% interest, as well as below-market interest rates for first trust mortgages.
Virginia Housing Development Authority (VHDA) — provides eligible homeowners a 2% to 5% grant toward their down payment.
Maryland Mortgage Program (MMP) — allows borrowers to pay off their outstanding student debt as part of the home purchase.
To learn more home financing options, attend the upcoming Home Buying Seminar on April 22 in Arlington.
- Financing programs
- How to avoid double paying a rent and mortgage
- How to calculate your budget the right way
- How to craft a winning offer in a highly competitive market
- Finding off-market properties
- Leveraging your equity
- The 4 C’s of Real Estate
Benefits of Attending:
- $1,500 credit towards your new home or towards early lease termination
- 12-month home buy-back guarantee — purchase with confidence!
- Wine and cheese provided
- The first 3 to attend will receive a gift card to Barley Mac restaurant!
This event is hosted by The Keri Shull Team, the D.C. metro’s top producing real estate team. Details are as follows:
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