First-time Home Buyer Programs

First-time home buyer programs are government or lender initiatives designed to help new buyers afford a home. They often offer benefits like lower down payments, reduced interest rates, or assistance with closing costs. These programs aim to make homeownership more accessible for those who haven't owned a home recently. Eligibility varies, typically based on income, credit, and purchase price. Examples include federal programs like FHA loans or state-specific grants. Participating lenders and housing agencies can guide you through available options to find a plan suited to your financial situation.