present, the FHA down payment requirement is 3-1/2 percent. Borrowers
are allowed to obtain down payment funds from outside sources
such as a monetary gift or loan from family, friends or charity.
FHA loans are the only home loan program allowing down payment
assistance from a third party.
Department of Housing and Urban Development offers a variety of
first time buyer programs. While HUD programs vary by state, most
grant opportunities to purchase HUD homes at substantially discounted
law enforcement agents, and public service professionals such
as firefighters and paramedics might qualify for HUD's 'Good Neighbor
Next Door' program. This home buying program allows the aforementioned
professionals to purchase HUD homes at up to half off real estate
Department of Veterans Affairs offers first time home buyers assistance
programs to active duty personnel and retired veterans. The VA
guarantees up to 25-percent of home mortgage loans to help military
personnel obtain financing through conventional mortgage lenders.
Information regarding home buyer programs, mortgage assistance
and tax incentives can be found at VA.gov.
estate investor and author, Simon Volkov, publishes a variety
of first time home buyer programs and real estate articles via
his website and throughout the online community. Simon specializes
in buying houses from homeowners facing foreclosure or bankruptcy.
He is currently interested in real estate properties located in
Orange County, California, Arizona, Washington and Nevada. Visitors
can list their real estate for sale and learn more about home
buying programs at http://www.SimonVolkov.com.
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