One of the most common deterrents to first-time home buyers is the lack of a down payment. However, the home loan industry has practically re-created itself in the last ten years, making it easier than ever to obtain a mortgage, and new mortgage programs are always cropping up.

Some states sponsor loan programs that allow buyers to purchase a home without putting any money down. A parent or other relative can guarantee repayment of ten percent of the loan if the buyer defaults. The only cash needed is for the closing costs, which typically run about three percent of the loan. Parents can also give their children down payment help through a personal note or second trust deed. The terms can be set up for monthly payments or annual payments amortized over a period of time. You could pay the interest only, and have the payoff due when the property is sold.

With so many alternatives, doesn't it make sense to call your real estate agent for a free consultation? You may be closer to home ownership than you think.

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First Coast Home Hunters Team of
All Real Estate Options, Inc
328 Stiles Avenue Suite 3
Orange Park, Florida 32073
Phone: 904-207-2124
Fax: 904-458-8975
Info@FirstCoastHomeHunters.com

My wife and I work together as Realtors & Buyer Agents in the Jacksonville, St Augustine & Orange Park Markets. We have helped over 200 familes to find the right place to call home. We strive to treat each buyer as if it was our only client and because of this, our business is 50% referral based from our past clients. We are experienced in most loan programs & can help make sure you understand the pros/cons of each option so YOU can make informed decisions. For all of you 1st Timers we understand 1st Time Buyer Programs. They can come with FREE $$ to assist with the down payment & closing costs. There are still a couple of 100% financing options available such as VA Loans or USDA Loans in parts of St Johns or Southern Clay. Military Members may qualify for a one year extension of the Home Buyer Tax Credit. There are also additional tax credits available for existing home owners. We are only a text, email or phone call away.

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