Tips for First Time Home Buyers

By Tony Cane

The aim of is be the ultimate resource for first time home buyers and current home owners. We know that the process of buying a home can be daunting and overwhelming at times, so we provide free advice, tips and resources to help you along the way.

Buying your first home should be a dream, whether you're buying on your own, with a partner or whole family. You want everything to be right, and to do that you need to be aware of several issues that you'll meet along the way. Our house buying tips cover a lot of different areas from mortgage application, to dealing with real estate agents, and down payment help including grants and loans. Our site also features guides and tips for existing homeowners to save money on bills, rates, refinancing, energy costs and much more.

First Time Home Buyer Programs

Note: Click a state for more information about home buying programs available.

Nearly every state in the U.S has programs for first time home buyers to help with closing costs and down payments. Many also have educational information available for free or small fee that will detail the specifics about programs they have for first time buyers. Programs do vary from state-to-state, but we provide you with the information you need about each state in this section of our site for your convenience.

One of the largest concerns among potential house buyers is obtaining the funds needed for a down payment. What you might not know however, is that states have programs developed to help with this very problem, some of which are in the form of grants that do not need to be repaid. There are also federal government programs available too, which we also cover in detail on this site.

First Time Home Buyers Grants

As mentioned, you will find different programs to help with your purchase of a new home depending on the state you are moving too. Some of these programs will use loans to help you buy the home you want, whereas other programs can be in the form of grants for home buying. The amount of grant you could possibly receive will depend on a number of circumstances such as your income level.

For many first time buyers, grants are pretty much essential in order to get on to the property ladder. However, existing homeowners can also benefit from grants such as government grants for home repair. Typical housing repair grants can help cover the costs of weather damage, repair to air conditioning and heating units (or replacement), and roof repair. Read our guides for more information.

Home buyers may also be eligible for the new home buyer tax credit for first time buyers. This tax credit is the equivalent to 10 percent of the purchase price of the house (up to a maximum $8000), and does not need to be repaid. You also need to be aware of other factors such as income limits and home ownership period, which is covered in our tax credit guides. For example, if you bought a home and took advantage of the first time home buyers tax credit, you would not be able to sell the house for a minimum of 3 years in order to maintain the credit without having to repay it to the government.

First Time Home Buyers Loans

Not all of us are able to afford the funding it takes to buy our dream home so we need to look at the options available to us. First time buyer home loans is one of these, but high interest rates are often a hindrance. Thankfully most states have programs to help with this too with low-interest loans for first time home buyers. Even a small difference in loan interest rates can make a huge difference in overall payment cost, especially when compared to some of the high-interest mortgage loans available.

Tips For First Time Home Buyers

In addition to the areas mentioned above, we also constantly update to offer tips and advice on energy saving, buying a home at auction, home improvement loans, guides for sellers, foreclosure and a lot more that we think you might find helpful whether you are a buyer or seller. If you have any useful tips to share, whether it is for the 1st time home buyer or current home owner, we'd love to hear from you by contacting us at the footer of this page.