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Help for First Time HomeBuyers

Who is considered a first time homebuyer?

Obviously it would be someone who has never purchased a home before, but it could also refer to an individual or married couple that has not owned a primary residence in the last three years.

Some of these home buyer's assistance programs may also benefit people who are not first time home buyers. Take a look and see if they might help you.

NOTE: The information presented here may be inaccurate or out of date. Program policies can change. Do not make any decisions solely on the information presented here. It is strongly urged that you contact these departments or agencies for current details and clarifications.

Here are several sources of assistance: 

Housing Finance Agencies

These agencies can offer special loan programs to low and moderate income home buyers. They can be found at the state level. Many have programs that will help the homebuyer with down payment and closing cost assistance.


  • Below market interest rates
  • Closing cost discounts
  • Other benefits (may vary)

Find out your states agency by calling
National Council of State Housing Agencies at:

Or visit the NCSHA Web site at

Choose your state, and click on the links referring to home buyers.


FHA (The Federal Housing Association) Loans

 Some FHA Loan Advantages:

  • Easier to Qualify:
    FHA pretty much insures the mortgage for the bank, resulting in it being easier to qualify for the mortgage than a regular loan even if your credit is not perfect.
  • 3.5% Down Payment:
    FHA’s down payment can be as low as 3.5% , which is obviously easier to acquire than the 5% or higher down payment that is common with other loans.
  • More flexible money source:
    Unlike other loans, the down payment money for FHA can come from an employer, family member, or charitable organization as a gift.
  • Not just for a single family house:
    You can use a FHA insured loan to purchase a new or existing:
    • 1-4 unit family home
    • condominium unit
    • manufactured housing unit (as long as it is on a permanent foundation).

    More information can be found at the source. FHA is administered under the Department of Housing & Urban Development & here is the link to FHA information:

Here is a link to FHA approved lenders:
(Remember, FHA insures, but does not originate the loan. You would have to shop around)

You can call HUD for more information on FHA, Monday through Friday, 8am-8pm, EST at:
Toll free: (800) CALL-FHA or (800) 225-5342
TDD: (877) TDD-2HUD (877) 833-2483.

Or call for advice, at: (800) 569-4287
Advice is also available at the HUD approved housing counseling agencies that can be found through this link: