If you are a first-time homebuyer, there are many financing options you may qualify for.
I’m Anita L. Williamson, Associate Broker with James River Realty Group, and it’s important to know who qualifies as a first-time homebuyer.
Surprisingly, a first-time homebuyer is not only someone who has never purchased a home before. You could qualify as a first-time homebuyer if you or your spouse haven’t owned a home in three years. Or if you are a recently divorced person who has only owned a home jointly with a spouse.
This is good news for some homebuyers who need to rely on first-time buyer programs to help with their financing and do not have the conventional larger down payment.
Many loan options are available to help you. Consider an FHA loan program that offers first-time buyers to purchase a home with as little as 3.5% down. If you are shopping in a rural area, you can possibly qualify for a USDA loan that offers 100% financing with no down payment necessary.
Or perhaps you can qualify for the down payment assistance grant from Virginia Housing, which provides down payment assistance in the form of a non-repayment grant. Yes, you heard that right. You do not have to pay it back. Yay!
Bottom line, as a first-time homebuyer, there are several options available for financing to make your dream of homeownership a reality.
Reach out to me anytime so I can connect you with a trusted local lender to see what programs you may qualify for. Soon you’ll be on your journey to homeownership.
I’m Anita L. Williamson, Helping You Establish Roots In Central Virginia.
