Denver First Time Home Buyer Programs

There is not a better time than now to utilize First Time Home Buyer Programs.  Not only are Home Loan Rates low, but home prices are way down and the First Time Home Buyer Tax Credit is available.

The First Time Home Buyer tax credit expires on June 30th and you must be under contract by April 30th.  This is a huge incentive- a dollar-for-dollar check  the government will write you if you buy a home.  The credit currently sits at $8000 for married couples, and $4000 for single filers. 

There are many First Time Home Buyer programs available right now with low or no down payments and ways to finance closing costs. 

FHA Home Loans:

FHA Home Loans are one of the most utilized First Time Home Buyer programs in the market.  Currently, FHA requires a 3.5% down payment and rates are extremely low on this program.  Credit standards are a little more lax on this program than on a conventional home loan, so many home buyers use this program.

VA Home Loans:

VA offers a home loan benefit to active and honorably discharged military members.  This program still allows financing up to 100% for a First Time Home Buyer with no mortgage insurance.  You will be subject to a VA Funding Fee, which is traditionally financed into your mortgage.

USDA Rural Housing Loans:

If you are located in a rural area  or small town, this is a great program for a First Time Home Buyer to take advantage of.  Like VA, USDA allows for up to 100% financing with no mortgage insurance.  There is also a funding fee assessed with USDA which can be financed.  USDA offers great low 30 year fixed rates.

Besides these low down payment programs, there are many other more traditional programs that may be better options.  For a FREE consultation, or to get pre-approved, visit our online First Time Home Buyer purchase assistant to get started: