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Step 1
Contact your state housing finance agency and request information about the first-time home buyer program, as well as any other programs their agency administers.
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Step 2
Read the guidelines and instructions. Your state housing finance agency may refer you to a local government agency for more assistance. That's O.K.
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Step 3
Contact the lenders who participate in the first time homebuyer program. The lender will help you get pre-qualified and fill out the needed paperwork.
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Step 4
Decide where you want to live and the type of house you want to buy.
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Step 5
Make an offer on the home "subject to acquiring new financing"
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Step 6
Once you have an accepted offer, tell the agent you will be using the first time homebuyer plan.
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Step 7
Close the loan. A first time homebuyer loan is no more complicated than a FHA loan. Since you are pre-qualified, the whole process should only take about 30 to 45 days.
Comments
sonni57 said
on 5/12/2009 Great advice for first time home buyers thanks for the helpful article.