Are there any assistance programs for first time home buyers?

Plenty...check with the real estate, banks, government grants, and many times the local church will be able to assist you in finding you money for a first time home.

Yes. Plenty of them. Check with local banks and your local Countrywide office.

Countrywide in Las Vegas has more first time homebuyer programs and down payment assistance programs than I can keep up with. Every city/state has different programs though and not all offices will specialize in them.

Look in your phone book for a Countrywide office and ask them if they can help, if they don't know the info, call another one. When you find the right office and the right loan officer it will be worth your while. The programs really help.

Good luck,

Greg S.

Best place to check is your city or county housing department. There are thousands of programs run by local agencies to help first time and low income buyers afford their first property. Some are silent seconds, some are outright grants, some are forgiven once you stay a certain number of years, and others just sit there until you sell or refinance.

Hello -

There are both programs for First Time Home Buyers and also down payment assistance programs. So let's begin with the government.

UNCLE SAM WANTS TO HELP YOU BUY A HOME

- Uncle Sam is Your Friend - The U.S. Government wants for you to own a home and they will go the extra mile to help you afford one. Why?

Well, every time one home is built, the effect on the economy is quite significant. Think of all the people involved in the construction of a new home, for instance. Welders, Electricians, Carpenters, Plumbers, Framers, Roofers and others are greatly affected by your choice to purchase a home.

- Little or NO Down Payment - Uncle Sam has programs like FHA and VA that can help you get into a home with a low down payment, or in some cases, with ZERO down.

- FHA and VA Programs - If you read our mortgage glossary, which is available for download

http://www.freemortgageinformationsoutherncaliforn...

,you will discover that FHA stands for 'Federal Housing Administration' and that VA stands for 'Veteran Affairs'. Get familiar with these programs, because they just might be your ticket to the American Dream.

HOW TO DETERMINE IF YOU QUALIFY FOR AN FHA OR VA LOAN

- VA Specifics - The VA Loan allows active or honorably discharged military personnel to obtain a home loan with 0% Down Payment. In addition, the seller is required to pay a large portion of your loan closing costs!

- Do You Qualify for a VA Loan? - To determine if you qualify for the VA loan, you simply need to meet the following criteria. First, you must be either active in one of the Armed Forces or an honorably discharged military veteran. Second, you must have reasonable debt-to-income ratio. This means that your current bills (car loan, student loans, bank loans and credit card bills) cannot exceed 41% of your income.

- FHA Specifics - If you don't qualify for a VA loan, then you should look into an FHA Loan. The FHA Loan Program allows little or no down payment, depending on your circumstances. The largest down payment you may be required to provide is 5% down. In addition, the FHA loan is also very liberal, in that, it allows a 41% debt-to-income ratio (including your mortgage payment), just like the VA Program.

- Do You Qualify for an FHA loan? - If you have proof of employment, a small down payment, and a decent payment history for your other bills in the last two years, you would likely qualify for an FHA Mortgage.

- What if you are Self-Employed? - If you are self-employed, that's OK too. We will simply need proof of income from your most recent tax returns. If you can provide this, and meet the regular criteria for an FHA loan as listed above, you qualify!

ABOUT YOUR CREDIT SCORE

Studies show that most Americans would rather see their dentist than have an appointment with a mortgage loan officer. The likely reason is that they are afraid of rejection - afraid of the big bad loan officer who will stamp a big red NO on their application. This is far from reality. Remember, Commissioned Mortgage Originators are in the business of saying YES. We've heard it all and seen it all and we are willing to help you, no matter what your situation is.

- Credit Problems are OK - You might be confused about how a lender determines if your credit is good enough to qualify for a mortgage loan. Let's clear up that confusion right now. Basically, if you've had credit problems in the past, the mortgage company will look at those problems and ask the following questions:

a.) How far in the past are your credit problems? (i.e.- if you had multiple delinquencies on your credit card this year, you might not be able to obtain a loan)

b.) If your credit problem is in the past, is it likely to recur again?

c.) Is whatever it is that caused your credit problem gone, or is it still present today?

d.) How good is the probability that you will pay your bills faithfully every month from now on?

- Judgments - If you have a judgment against you that has not been satisfied, you will not be able to obtain a mortgage loan. To obtain a mortgage loan, the mortgage company will require title insurance. Title insurance cannot be applied against your loan if you have an outstanding judgment.

- FICO Score - Although lenders look at much more than just your 3 digit FICO (credit) score, you should try to keep your credit as clean as possible, because the higher the score, the better!

- No Credit History - Even if you don't have any credit history whatsoever, you can qualify for a mortgage loan. As a matter of fact, it's not all that difficult. If you have a stable income, proof of employment, and a small down payment, you too can qualify for a mortgage loan!

Hope that helps. There is also a FREE Informational website that will teach you everything you want to know about buying a home.

Visit http://www.freerealestatesecretssoutherncalifornia...

Try US Government grants/loans.

Go to the Badda Bing and ask for Tony and he will take care of you.

signed,

Goodfellows