There are a lot of great programs out there for first-time homebuyers. The $8000 First-Time Homebuyer Tax Credit may be getting the most press but check out some of the fantastic local programs as well.
House Key State Bond Loan Program: This program offers first-time home buyers a lower interest rate. It also provides a free Homebuyer Education Seminar and access to a lot of really great information about the home buying process. The rates change daily, today they are as low as 5.50%!
To qualify as a first-time homebuyer you have to have not owned a home in the past 3 years. (There are even some areas within Pierce County where all homebuyers qualify for this program, not just first-time home buyers. Check out http://www.wshfc.org/buyers/target.htm for more information.)
The Express Loan Program: This program offers a lower interest rate (today the rates are as low as 5.375%), first-time homebuyers education seminars AND includes down payment assistance up to $10,000! You must have an offer on a home prior to reserving funds so if you have been on the fence about buying, this might help you over that last hurdle. Check out the great deals we have this weekend at Foxbury Landing.
For more information check visit the Washington State Housing Finance Commission’s website at: http://www.wshfc.org/buyers/index.htm for more information.
Also check out the Washington Homeownership Center’s website at http://homeownership-wa.org/index.htm. They have a lot of great information about the home buying process, financing and access to additional resources.