Glad you ask. I specialize in first time home buyer programs. You may contact me for more information.

I would imagine that in your state there are local no profits such as the one I work with. We do first time homebuyer seminars aproved by hud. Upon completion you’ll receive a certificate that some first time buyer programs require. Here we have down payment assistance, 0 down, credit counceling and more. The other nice thing is that the agents, lenders and companies you’ll work with are pre-screened and will take the luck factor out of things.
Try ACORN, Husing for Hmanity, LULAC Housing, HSN they are all national and may have a chapter in your area.
Good luck, and I hope your first home is a happy one.

I’m glad you are considering purchasing your first home. It’s a good move and it’s a great feeling to know you own your own place.

Your question about 100% financing (no money down) is correct. Most mortgage companies and banks do offer 100% loans for first-time home buyers. Ask your friends and families what mortgage companies they trust and have worked with in the past. If they’ve done a good job for people you know, they probably will do a good job for you. I’ve included a link below to Quicken Loans First-Time Home Buyers section and you can check it out for great information about things you should consider when buying your first home.

And going with 100% financing for first-time home buyers can be a pretty good idea. By not putting money toward a down payment, you can use the cash for other things such as paying off higher-interest debt (such as the money you owe on your credit cards). This makes good financial sense because mortgage interest is usually tax-deductible (make sure you talk with a tax advisor on what is and what isn’t tax deductible for you) and rates are lower than most credit cards. You may also need that extra money to pay for education or home improvements.

Be careful to sign up for programs that avoid the biggest disadvantage to a no-down-payment mortgage, which is paying private mortgage insurance, or PMI. Usually, anyone who puts down less than 20% of the home’s value usually has to pay PMI. Make sure the mortgage pro you work with gives you some tips on how to avoid paying private mortgage insurance.

Regardless of who you choose to work with, always do your research and ask trusted people for their opinion. Good luck and if you have any other questions feel free to contact me through my profile.