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What is the benefit of being a first time home buyer?

by frankiej162 from Port Penn, Delaware. Apr 4th 2018 Reply


John Thomas (delawaremortgages)
#6 ranked lender in Delaware - 16 contributions

Hello,In Delaware first time home buyers have several benefits. I outline some below:1) Exemption from the county portion of the transfer tax2) Eligible for the Delaware First Time Home Buyer Tax Credit3) Eligible for various down payment assistance programs and grant programs in Delaware.Here is a link to an article that gives specifics on everything listed above:https://delawaremortgageloans.net/delaware-first-time-home-buyers/John R. ThomasNMLS 38783Primary Residential Mortgage, Inc.302-703-0727 Office

Apr 4th 2018
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,455 contributions

Realistically, unless there are some "State Specific" benefits, when it comes to the varying loan types, Conventional allows 3% down for a first time home buyer,,, other than that, there is no other benefit.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Apr 5th 2018
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Gregg Pomeroy (G.Pomeroy)
#51 ranked lender in Connecticut - 13 contributions

Hello, there are a couple "first time home buyer" programs available. Depending on your qualifications you may be able to buy a house with one of these programs with as little as 3% down payment and you can roll some closing costs into the loans using a sellers concession. The primary benefit of this program besides the low down payment requirement is the rates a generally bit better than the programs available to previous home buyers. If you don't qualify for the first time home buyer specific programs there are some other programs available, one requires no money down. The best thing to do is to to get pre approved for a mortgage and see what you can qualify for. If you have any questions you are welcome to reach out to me at 203-299-2034, you can call or text that number day or night. Im available via email as well at: gpomeroy@boemortgage.com. My website is: www.thehomeloanspecialist.com

Apr 5th 2018
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Justin Ballard (TampaBayFHA)
#434 ranked lender in Florida - 4 contributions

First of all, the benefit is in Owning a Home vs. Renting! Secondly, there are many Down-Payment Assistance programs operating in a number of states and counties that give additional assistance to potential homeowners to cover down payments and other costs. Here at PRMG, we offer CHENOA, which allows first time homeowners a $0 Down option. Justin BallardNMLS# 1630931Paramount Residential Mortgage Group

Apr 6th 2018
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