Bellingham Home Loans for First Time Buyers

Many people dream of owning a home, but the home loan process can be confusing for many first time home buyers. Mortgage lenders offer first time buyers many home loan options and can assist the buyer in finding the best home loan for their particular situation. First time home buyer programs can offer lower interest rates, low down payments, or reduced taxes.

First Time Buyer Mortgages in Bellingham

First time home buyers in Bellingham often experience the most difficulty amassing a significant down payment. However, the federal government believes that everyone should have the opportunity to buy a home. For this reason they have developed two loan programs to assist home buyers who have little or no down payment. These programs are called the Federal Housing Administration (FHA) and the Veteran's Administration (VA). These programs are not solely intended for first time home buyers; your home loan adviser will be able to determine if you qualify and if so which program is acceptable for your needs. FHA and VA loans can be especially advantageous when combined with a HFA or MCC first time homebuyer program