Preferred Home Finance, LLC

As a first-time home buyer, you may feel a little overwhelmed with the process of buying your first home. Our goal is to empower you with the information necessary to give you the confidence you need to make the dream of buying your first home become a reality. The more you know about the home buying process, the more likely you will be able to purchase the home of your dreams. For instance, the largest hurdle most first time home buyers face is saving the money necessary for a down payment. Did you know that nearly every state has a program to help first time home buyers with the down payment? Some of that help is in the form of gifts. In addition to state programs, there are also Federal programs available. We sincerely want you to be able to buy your first house.

GOVERNMENT'S CURRENT "HOT" LOAN PROGRAM FOR FIRST-TIME HOMEBUYERS AVAILABLE UNTIL DECEMBER - CALL TODAY TO SEE IF YOU QUALIFY! (703) 620-0254

First-time Homebuyer Mortgage Programs

$8,000 First-time Homebuyer's Tax Credit. The tax credit is for first-time home buyers only. The tax credit does not have to be repaid and is equal to 10 percent of the home's purchase price up to a maximum of $8,000. The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009. Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

First-Time Home Buyer Grants

Governments want to help people of more modest means experience the many benefits of home ownership. Money is budgeted each year to government agencies for that purpose. Depending on your income level, you may qualify for a state or federal first-time home buyer grant. For many first-time home buyers, grants are the deciding factor in being able to buy their first home.

First-Time Home Buyer Programs

Nearly every state has a first time home buyer program. Most states provide educational courses that explain all of the programs available to first-time home buyers. Some of these courses are free or are available for a nominal fee. The programs vary from state to state. Many states even have programs for Down Payment Assistance.

First-Time Home Buyer Loan

Interest rates are a major cost factor in buying your first home. The good news is that most states provide low-interest loan programs for first-time home buyers. Depending on the state, the savings can be huge compared to conventional mortgage loans.