Select Page:  Posts Per Page

Financing Options for the First-time Homebuyer

We have so much information at our fingertips thanks to technology, but there are still many misconceptions about residential mortgage financing for the first-time homebuyer. Most prevalent is that consumers need a significant amount of cash available to make their first home purchase. There is also a lot of misinformation about credit, debt and qualifying.

Let’s begin with the definition of a first-time homebuyer (FTHB). As counter-intuitive as it may seem, the FTHB as defined by most of the residential mortgage agencies is, “an individual who has not held an ownership interest in a residential property within the…

Select Page: