I’ve Never Bought A Home…

What Do I Do?

Buying your first home can seem a bit scary, but there’s help out there if you know where to look. There are several programs that offer aid to first-time homebuyers, and there are county and state “bond” programs that are there to help qualified individuals and families in the purchase of their first home.

Group One Real Estate can offer you advice on how to buy your first home, and we can assist you in finding programs that will suit your particular circumstances. Many of them have maximum income eligibility and property requirements, which can vary from program to program.

The CCCIC Down Payment Assistance Program offers a deferred, forgivable loan of up to $5000 at no interest for use as a down payment, or it can be used to cover closing costs. It also has an income limit, which is based on 80% of a person’s median income and is adjusted for family size. Bear in mind that income limits are established by HUD, and they are subject to change without notice.

The Mortgage Credit Certificate Program has a higher income limit of $52,670 for a family of three or more. This program provides a 40% tax credit, which is based on the interest paid and taxes owed to the IRS. However, the maximum tax credit for this program is $2000.

Other programs are also available that require seller financial assistance, and additional information is available on our Frequently Asked Questions, which addresses many of the concerns from first-time buyers. You are also encouraged to visit or call our office so you can speak to one of our agents. We want to do everything we can to help you in the purchase of your first home, so get in touch with us today!