NJ First-Time Home Buyers


Understanding and Using All of Your First Time Home Buyer Options

With all the excitement of the first time home buyer tax credit, buyers often get confused and miss out on other important options.

First Time Home Buyer Mortgages, Loans, Grants, CreditsAs a first time buyer, don't let the excitement of the $8,000 tax credit cause you to miss out on many other home buying options. It isn't uncommon for a buyer to confuse the federal tax credit with seller credits, down payment assistance, or first time home buyer grants.

First time home buyers have many options.  Utilizing one option does not hold a buyer back from utilizing one or more other options allowed to them as a first time home buyer. This article is written not to go into great depth on each option, but to help you realize the different options available as a first time home buyer and how to utilize each/all of these options.

Read on to understand some common terms and how to take advantage of each option.

Tax Credit

The federal tax credit is the (up to) $8,000 incentive that everyone is talking about. Most home buyers that haven't owned a home in the last 3 years will qualify for this. In general, this credit is realized as a credit for you when you complete your taxes in the spring of 2009 (for 2008's income).

For example, if you would have normally received $2,000 back after completing your 2009 tax returns, the tax credit would add an additional $8,000, to make your total amount received $10,000. For additional information and guidelines, go directly to First-Time Home Buyer Credit: Answers.

Seller Credit (Seller Concessions)

A seller credit, better known as seller concessions, is a scenario when the seller agrees to pay a certain amount of your settlement costs. The seller may pay a percentage, such as 2, 3, or 6% of the purchase price, or they may pay a dollar amount, such as $2,500 or $5,000.

For more information on understanding seller concessions visit Understanding Seller Concessions | Seller Paid Closing Costs | Seller Contributions | Seller Assist.

Grants for First Time Home Buyers

Many people miss out on first time home buyer grant options. Once a buyer hears about the $8,000 tax credit, they sometimes go deaf to other options, either out of excitement or because they don't realize they can utilize more than one option.

A grant is a program often issued by a county or state that offers funds to the home buyer for the purchase of a home. Either a flat dollar amount or a percentage of the loan amount is used to calculate the funds offered. A typical grant percentage would be 2, 3, or 4% of the loan amount. For instance, 4% of a loan amount of $100,000 would give you a $4,000 grant.

Grants can be utilized for down payment requirements and/or to pay for closing costs. Depending on the purchase price and the grant selected, a grant can sometimes even cover all requirements the buyer has concerning both the down payment requirement and closing costs.

First Time Home Buyer Mortgages, Loans, Grants, CreditsDown Payment Assistance

As of the date of this article, down payment assistance in the traditional sense is not available.Down payment assistance programs (DAPs) were an option where the seller would indirectly give a buyer the money needed for down payment requirements. These transactions in general had a higher default rate then most, therefore this option is no longer available. Examples were the Nehemiah program or the Genesis program. There is a movement to reinstate these programs. The mentioning of DAPs here is simply to help you differentiate and not confuse them with other options.

How to Utilize More Than One First-Time Home Buyer Option

Here's where the rubber meets the road. A common example of utilizing all of the above options is as follows:

  1. Buyer meets with grant official or loan officer for qualification requirements pertaining to a specific grant option. In our example the buyer will use an FHA mortgage, which requires a 3.5% (of the purchase price) down payment. The purchase price is $100,000, therefore the down payment requirement for this would be $3,500.
  2. Loan officer and buyer determine that the use of a 4% grant would be the wisest choice. Since the down payment requirement is $3,500, the financed amount will be $96,500 ($100,000 - $3,500). Based off of $96,500, a 4% grant would be $3,860 (loan amount x 4%, or $96,500 x .04)). Compare the grant amount with the buyer's down payment requirement of $3,500, and the grant amount is $360 more than the required down payment amount. This type of grant covers the down payment requirements and some additional funds to be applied towards the closing costs.
  3. Assuming closing costs are $5,000, here is how you can determine what to request from the seller to get the closing costs paid as well. We can subtract the extra money left over from the grant, in this case $360, from $5,000. Our sum is $4,640. FHA requirements allow the seller to pay up to 6% of the buyer's closing costs. We don't need all 6% (or $6,000), we only need $4,640 from the seller. So when the purchase of the home is negotiated, the buyer's agent negotiates with the seller's agent that the seller will agree to pay $4,640 towards the buyers settlement fees/closing costs.
  4. Buyer goes to settlement needing $0 to close, and in fact they will get back the money already deposited with the real estate agent and lender.
  5. Lastly, the buyer can still maximize the use of the federal tax credit and receive their $8,000 after filing their 2009 tax returns.

All-in-all, in our scenario the home buyer will receive $16,500 for purchasing a home ($3,860 grant + $4,640 seller's concessions + $8,000 tax credit).  The buyer is able to utilize three separate home buying options and in the end, still have their own money in the bank, which will then get boosted in several months by the $8,000 tax credit. Now THAT is the kind of lending and buyer representation that creates solid, well founded home owners, which is exactly what we all desire.

By working with knowledgeable professionals, you can utilize multiple buyer options to make your home buying experience an amazing event!

Steve Kappre


If you would like more information, as a buyer, seller, real estate agent, real estate office, financial planner, college or other party, feel free to contact Steve Kappre directly on his cell at 856-419-3561 or via e-mail at steve@stevekappre.com.


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Steve Kappre is a Mortgage Planner with Treasury Mortgage. Steve specializes in;

• All areas concerning First-Time Home Buyer Mortgages, grants, down payment assistance, police and fire loans, rehab loans, and more.

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• Equity Management strategies for high-end homes and high net worth individuals.

Contact Steve Kappre directly at 856-419-3561 or at www.stevekappre.com

Comment balloon 74 commentsStephen Kappre • July 10 2009 05:00PM


Great post Steve.  All of these terms become very confusing to FTHBs.  This is a easily understandable explanation.  The example definitely helps make it easy.

Posted by Karl Peidl, Accredited Loan Consultant almost 10 years ago

Karl - Thanks. I feel bad for these folks - as FTHB they are genuinely confused! It is almost magical when they learn what they can do and how.

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

Hi Steve: You don't have to wait until you file your 2009 taxes to get that tax credit.  You can get it now!  Here is what you do:

  1. refile for 2008 1040. (the form will be called 1040X)
  2. include your $8,000 on line 69
  3. fill out the schedule with the property address, sales price, etc.
  4. Mail it
  5. Collect your $8,000 in 2-3 weeks (5-10 days if you file it electronically)

It's that simple - don't wait - get your money NOW!


Posted by Matt Listro, Your Credit Repair Expert (National Credit Fixers - Matt Listro) almost 10 years ago

Matt - I purposely left that out or the article would have been way too long. Thanks though for the info - it is great buyers can get that money sooner.

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

Dude....I'm starring this.  This is first time homebuyer 101.  Just the best.  Tax Credit $$$ will disappear at some point.  Buyers need to take advantage of it as soon as they can!!!!

Posted by Larry Bettag, Vice-President of National Production (Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001) almost 10 years ago

Steve very nice job with your summary of the available credits to buyers! I believe the 1st time buyer tax credit has been one of the better methods of kick starting the market.

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) almost 10 years ago

Steve and Matt,


Great stuff but where do you go for the grants.

The Tax Credit is a awesome gift for the FTHB's, All we need now is for rates to stay affordable with the housing.

I predict the next few months til Dec  are going to be on Fire and we will see a lot of FTHB's but not enough inventory and short sale's are not inventory.


Thanks Again

Posted by Eduardo Flores almost 10 years ago

Steve - This is really a great break down and an easy explanation of each one. 

Posted by Michelle Gibson, REALTOR (Hansen Real Estate Group Inc. ) almost 10 years ago

Great information , thanks for posting it on AR today. It's helpful.

Patricia Aulson/portsmouth nh

Posted by Patricia Aulson, Realtor - Portsmouth NH Homes-Hampton NH Homes (BERKSHIRE HATHAWAY HOME SERVICES Verani Realty NH Real Estate ) almost 10 years ago

Steve -- your post is the reason why I like to work with qualified loan people!  They're on top of their game, know what to do, and while I know "of" the loan process . . . and consult with buyers about it all . . . it's so important to have the same sound voice of reason coming from the lender.  Good post!  No wonder it's a feature!

Posted by Carla Muss-Jacobs, RETIRED (RETIRED / State License is Inactive) almost 10 years ago

Steve- Thank you for clearing some of the possiblities up. I know I have some clients who are confused as well about the tax credit. I always point them to the IRS website :)

Thank you for the info! Great post!


Posted by Melissa Matthews (Exit Realty Specialists) almost 10 years ago

Thanks for the education Steve. I appreciate all the great opportunities to learn on AR

Posted by Kim Curran (RE/MAX Unlimited of Northern Virginia) almost 10 years ago

Love this - thanks, I am doing some 1st time home buyer seminars and the more I read, the better I can pass on the advantages that are available

Posted by An Marshall, Your St Augustine Real Estate Consultant (Berkshire Hathaway - St. Augustine) almost 10 years ago

Steve - Great Job.  It was just this I was going through some of these items with a first time buyer.  Yes the buyer can get the money this year, my buyer wanted to verify that this was so, so she went to the IRS site then left me a message that I was right.

Posted by Jennifer Fivelsdal, Mid Hudson Valley real estate connection ( JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571) almost 10 years ago

Great information -- thanks for breaking it down in simple terms.

Posted by Kelly M. Fisher (The Property Shoppe, LLC) almost 10 years ago

Congrats on your feature - we have got to get together some day!

Posted by Bridget Cella, e-Pro, Realtor (Re/Max Connection) almost 10 years ago

Larry - Thanks. I just share them as I experience them. :)

Bill - Thanks, and I agree, I believe the tax credit has brought more people out.

Eduardo - The grants I utilize are both through the states, such as NJ and PA, as well as coutny grants. Almost every county around has a type of grant program. Some near me have more then one.

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

Michelle - Thanks

Patricia - Hope it helps!

Carla - I couldn't agree more. Teamwork is vital for the buyer's best interests.

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

Melissa - Great

Kim - AR is a virtual gold mine, no doubt.

An - I've been thinking about getting back in to seminars again. I've shyed away, but love the immediate interaction with interested people. Glad I could help.

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

Jennifer - yes the option to get the tac credit sooner is great. When added to all the other options it is almost crazy not to buy sometimes. I had a recent client who utilized these and actually started paying less owning then they were paying monthly renting!

Kelly - You are welcome.

Bridget - Thank you, and I'd be happy to meet.

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

This is great information for first time buyers. There are many different programs, and I think it's great you're making people aware of it.

Posted by Christine Donovan, Broker/Attorney 714-319-9751 DRE01267479 - Costa M (Donovan Blatt Realty) almost 10 years ago

Steve, thanks for sharing this awesome information for buyers. Many of us have clients who can use this type of information, and not all mortgage officers are willing to share this (and some don't even know this).

Posted by William James Walton Sr., Greater Waterbury Real Estate (WEICHERT, REALTORS® - Briotti Group) almost 10 years ago


Nice and thorough explanation of what's available out there for first time home buyers. Often buyers only know about the $8,000, but there are more goodies as long as you look for them.

Posted by Esko Kiuru almost 10 years ago

Hi Steve -- Your post illustrates why it is critically important to hire an exceptional loan officer!

Posted by Chris Olsen, Broker Owner Cleveland Ohio Real Estate (Olsen Ziegler Realty) almost 10 years ago

Christine - There are many programs, and they are there to be used.

William - I agree 100%

Esko - Right on

Chris - I would tend to agree ;)

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

Steve - Wow, after reading this, if I was a first time homebuyer, I would be in the phone with you in a heart beat !  And ourselves to to help them find a property !! : )  .  Great post regarding the use of the tax credit, sellers concessions and grants.   Very informative as usual !


Posted by The Somers Team, Real People. Real Dreams. Real Estate. (The Somers Team at RE/MAX Access) almost 10 years ago

Steve - Thanks for the very informative post.  I know it will make a difference not only for first time homeowners, but real estate professionals as well.

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) almost 10 years ago

Chris/Steph - Thanks. Knowing this as an LO or agent can make a homeowner out of someone!

Myrl - I hope so!

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

I am in Georgia,  many of the Grants available for First Time Home Buyers  have a waiting list.  My lender is requesting  90 to 180 days or longer to close for money to become available.  Is anyone out there experiencing the same ?


This is a copy of recent message concerning the NSP program...

                         NSP Down Payment Program - Loan Reservation Status
We are still taking NSP reservations.  All new NSP reservations will be placed on a waiting list.  As existing loan reservations are cancelled, NSP loans on the waiting list are moved to active status.  While we can not promise your new NSP reservations will receive funding, we have had cancellations and loans on the waiting list have been moved to active status.
As of today, July 9, 2009:
* NSP funds are available to purchase eligible loans reserved
   on or before June 15.
* Some NSP loans reserved on June 16 are now on active status
   and those lenders have been notified. 
* Loans reserved June 17 or later are on the waiting list.
As of today there are 199 loans on the waiting list.

Posted by Teresa almost 10 years ago

Erica - That was the goal behind it!

Teresa - We have certain loans around here, such as the police and fire loans, that are out of funds. some of our grant programs take a little longer, at most 2 extra weeks beyond a normal process. Some others don't take any longer at all assuming the grant is applied for well before you go to contract on a home. That waiting list above makes it tough to make sense of it. ESPECIALLY if the tax credit is a reason, since that might put one past December.

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

this is a great post for sure. I'm going to send it to some first time buyers I'm working with today. If that's ok with you.

Patricia Aulson

Posted by Patricia Aulson, Realtor - Portsmouth NH Homes-Hampton NH Homes (BERKSHIRE HATHAWAY HOME SERVICES Verani Realty NH Real Estate ) almost 10 years ago

THIS IS EXACTLY THE INFORMATION AGENTS NEED TO BE TELLING THEIR CLIENTS!  Thanks so much for making it so simple to understand.  I will make sure that the agents I work with have this information.  Great post!!

Posted by Lori Bonicelli (Bonicelli Design) almost 10 years ago

Thank you for a great post!  Your message was clear, concise and informative.  I'd hire you in a heartbeat.  Thanks again!


Posted by Elyse Berman almost 10 years ago

No offense but many of you are falling down over such great information when the only thing offered of value is the tax credit, and a few touches on local and regional government/lender programs. Touches, not meat. He mentions grants and of course cant know every grant available in all places, since this is a nationally read board but Steve---what grants are available to your clients right now who are purchasing in your area? Do you know of any?

Everyone knows you can ask the seller to pay something. Old news. If Steve wants appropriate kudos and to be worth the pedastal position you have made for him, lets hear more about everything truely available, as the headline made it seem like thats what we would find here.  The DPA programs, in my and many others opinions, were fraudulent and many lenders considered them so. There may be a movement but you know who is behind it and IMHO we wont see those again, especially where govvies are concerned.

At least the subject has been opened for enlightenment. Any of you who are in real estate should have had the experience not to be surprised by the information given.

Steve you have acheived Sainthood by this post. Of course this is a network and many use it to gather new business but if you want to shine the new halo why dont you tell us about the grants that are available to borrowers who walk into your office for local properties?

Posted by Alex Morales almost 10 years ago

This is a great post with good information.  Thanks for sharing it. 

Posted by Heather Fitzgerald, REALTOR Greenwood Indiana Real Estate (REALTY WORLD-Harbert Company, Inc.) almost 10 years ago

In Illinois we also have the MCC tax credit which gives the buyer 20% of their mortgage interest as a tax refund for the life of the loan.

Posted by Diane Lynch, Real Estate Broker (Realty Executives Premiere) almost 10 years ago

Great post and very informative

Thank you!!!!!

Posted by Lilo Clacher almost 10 years ago

You have all the information I have found in one easy to read format.  Thanks for all the time you spent.  I will be able to get the info to buyers in a much more understandable format.  Great work! 

Posted by Suzanne McLaughlin, Sabinske & Associates, Realtor (Sabinske & Associates, Inc. (Albertville, St. Michael)) almost 10 years ago

Patricia - Certainly, that's why it is here.

Lori - Thanks, glad to be of help

Elyse - You are welcome


Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

Alex - The focus of this article was to let buyers know that they can use all of these options together. I would really love to sit with you in person to discuss. Do you have time to meet with me?

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

Suzanne - I appreciate your kind words and you are welcome

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

6% from seller? Nehemiah, etc. are dead and no longer a current issue. Prices are so low, how can a seller help with that amount? I don't think you should suggest such a thing.

Posted by Lyn Sims, Schaumburg IL Real Estate (RE/MAX Suburban) almost 10 years ago

Hi Steve,

Great post.  The only thing I want to clarify is that the tax credit is 'UP TO $8,000' not $8,000.  I always try to remind my clients not to plan to spend that whole $8,000 because most likely, that's not what they will be getting.    

Posted by Sylvia Barry, Marin and Sonoma Real Estate Leading Expert (Coldwell Banker Previews International (#1 Marin_Sonoma_San Francisco_North_Bay)) almost 10 years ago

Lyn - If you read it through I didn't, even couldn't, suggest such

Sylvia - You are right. I added the words (up to) based off of your comment. In an effort to keep this article simple, I don't want to give misleading or wrong information. Thanks!

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

Hi Steve,

Good information; does this Grant program apply to any State? I am in CA. Can you do loans in CA?



Posted by Carls almost 10 years ago

What buyers are not being told is that the homebuyer assistance program they may be applying to is acutally a 2nd mortgage. For example, the Georgia Dream Program. Youa re sometimess better off bringing your own down payment to the table; which can actaully give you a lower itnerest rate on your mortgage because your principle is lower. With the  Ga Dream Pgm, the $5k is actually a 2nd mtg. It isn't a grant/gift unitl after 5  or 5.5 years. At that juncture, you will have paid interest for 5 yers on a 2nd mtg and you could have already paid for that money at the end of the 5 years. So, in effect ,it in't a "grant at all".

I am working with an agent and a client in this same situation. She could have brought $3k to the table, as her own down pmt(which she had) and financed @ 5%. When she saw her "good faith estimate" she decided to take the  "free money". That "free monye/grant is now going to cost her as a $7,500 2nd mtg @ 6.5% interest

Posted by Anna almost 10 years ago

Hi! Steve,

Since this was posted in the consumer corner, hopefully, some FTHBs will read and glean enough information to prompt them to ask more questions to local lenders and agents.  Thanks for the post.

Posted by Dana Wilkinson, Broker-Your TX agent for The Woodlands-Spring-Conr (Connect Realty, The Woodlands, TX) almost 10 years ago

Carl - You can utilize the above options within your state. Although I may be able to lend in CA, I am not knowledgable of the specific grants CA has, therefore you would want to contact a local mortgage or real estate professional. If you have trouble getting more info, let me know, I'll try and help.

Anna - Great point. Although the GA program is how some work, it is not how all work. So each grant out there needs an explanation. I am so happy that you brought this up!! One grant I utilize through the state of NJ is a "silent" second. Some of the county ones I use are the same. However, in the case of interest paid, both of these programs are interest free if held for "X" number of years. There is a possibility that you would be charged a portion of the grant money if you pay it off before a certain amount of time, 9 years or 5 years, etc. 

You also brought up a fantastic point about ultimately paying more by utilizing some grant programs. This can be true depending on the mortgage one must utilize to obtain the grant vs. current interest rates. Some of the grant programs I utilize charge higher interest rates for higher grants. So when a first-time buyer comes to me with a great downpayment and money for settlement costs, often they would not benefit from a grant. This is all part of the consultation and loan program advice given. In another article about closing costs that I wrote, I go a little deeper into the benefit of keeping more money in the bank, for safety/emergancy funds. Every situtation is of its own, and each person has to do what is best for them. For the vast majority buyers utilizing a grant program, it is their best, and usually only, option.

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

Dana - Perfectly stated. I would be useless as a representative to act like I could know about grant programs nationwide. This is where real estate demands a local representative. Hopefully there is a local person to help weed through each person's very best options.

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

Nice Post Steve, very well laid out.


One thing I would point out to potential buyers & their agents is that the grant funds do not always come without strings attached.  In NJ, for example, the NJHMFA currently offers a reasonable 5.625% fixed rate for FTHB's, & up to a 4% grant.  However, the 4% grant means a buyer must add another .75% to the loan rate, bringing it to 6.375%.  Currently, most buyers can obtain a 5.25-5.5% fixed rate loan, so the grant does have a "cost"  depending on the size of the loan, this can add up to a lot of money over time.  The buyer cannot sell, move, or refinance this loan for up to 5 years without being liable to repay a pro-rata portion of the grant money.

As a Loan Officer working with FTHB's & many local agents on a referral basis, I try to educate my clients about all the choices available to them, but tend to stay away from the grants.  I certainly do hope the administration finds a way to extend &  perhaps even enhance the FTHB tax credit to include more people with fewer limitations well into & perhaps through next year.

As for the seller concessions...we do this all the time, as this has always been a fantastic way to allow homebuyers keep some reserve funds for expenses they are bound to incur after settlement.  FHA allows up to 6% seller contribution, & often means a buyer can easily afford to reduce the interest rate on their new loan by up to .50% by utilizing discount points, as well as having the benefit of lower out of pocket expenses.

Posted by Jeff Coon, Branch Manager (Annie Mac Home Mortgage) almost 10 years ago

Jeff - Well said. I do the very same with my clients. Some clients do benefit but not using such programs. Others have no choice! It is our job to educate them all.

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago


Can't thank you enough for the great information on the First Time Buyers tax credit.  There are entirely too many rumors floating around.  You're info is exemplary.


Posted by Judy Ryan almost 10 years ago


Good post; nicely laid out.  Are you familiar with the recent update on the 8k tax credit that allows the use of part of up o 5k of the credit toward closing costs?  How does that work? could you contact me or do a post on that? I'm curious as to how this must be structured.  Is it a bridge loan from the lender?


Kimberly Thomas, Broker Salesperson

Realty Executives, Brown & Pope - Voorhees, NJ



Posted by Kimberly Thomas, Broker-Associate, Keller Williams Realty - Voorhees, NJ (www.KimThomasHomes.com) almost 10 years ago

Thanks for the info, Steve! I actually bookmarked your blog for future reference!

Posted by Todd & Devona Garrigus, Broker / REALTORS® (Garrigus Real Estate) almost 10 years ago

Judy - You are very welcome. Hope this helps.

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

Kim - I have one of these in process now. I'll call you today.

Todd - Funny you mention that. Some posts I write, such as this one, are for personal use to send to clients. It seems this one has stuck a note with many others. I hope it helps!! Let me know if you need anything else.

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

Karen - great add, and great to "see" you here! I appreciate your comments.

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

Great info Steve...thanks for breaking the options down like this!!


Posted by Dan Magstadt (Paramount Residential Mortgage Group, Inc) almost 10 years ago

Dan - No problem. Thanks for reading.

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

Thanks for laying out these options in laymen's terms.  It's good info to pass on to Buyers.

Posted by Ed Vogt, Grandville, MI Midwest Properties (Midwest Properties of Michigan) almost 10 years ago

Ed - Glad I could help.

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

Steve - It sounds like you have a good grasp of some great first time home buyer programs for your area.

Posted by Karen Cooper, Helping Homeowners w/Home Loans in 27 US States (Karen Cooper | Sr Retail Loan Originator ! NMLS # 223305 | 360 Mortgage Group LLC Austin Texas) almost 10 years ago

Karen - I learned a great deal about FTHB when I joined my current company. Much credit goes to my branch managers.

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

Steve - excellent post, we reblogged it to share with Missoula First Time Homebuyers. :)

Posted by Monica Bourgeau, Business Coaching (New Phase Business Coaching) almost 10 years ago

Kevin - Great news. Hope you can help some buyers with it!

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

Steve, thanks for a fantastic and informative post. It's so true that many first-time buyers are clueless about their options. I'm going to reblog this to help potential buyers in the Rochester, NY area. Thanks again!!

Posted by Kristen Wahl, CBR (Re/Max Plus) almost 10 years ago


Great info! Thanks.


Posted by Mary Campbell (Abrams Coastal Properties) almost 10 years ago

Kristen - You are welcome. Hope it helps.

Mary - Welcome.

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

Great post! There are so many first time homebuyer options for them to explore. It's important for them to know that they can STILL buy a home with little or no money down

Posted by Michelle Rottach, Scott County Iowa Real Estate (RE/MAX Elite Homes) almost 10 years ago

Michelle - That's right. With all the negative press at times you would think there was no mortgage money at all. NOT SO!!

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 10 years ago

Your post is great at explaining the different options available to first time home buyers; it can be so confusing for them.  I can't think of a better time to purchase a home with all that is available to first time home buyers now!

Posted by Patricia Beck, Colorado Springs Realty (RE/MAX Properties, Inc., GRI, CDPE) over 9 years ago

Wow very informative Steve. Thanks a lot for the information


Posted by Mark Velasco, Listing Agent-Whittier & Surrounding ciities (Sharpstone Realty, Inc) over 9 years ago


Great post. You have given us some very useful information that will help us and our buyers.

Posted by Lou Mayo, REALTOR, Serving Western MA, Buyers and Sellers (413) 726-9300 (Lou Mayo, REALTOR @ Real Living Realty Professionals) about 9 years ago

Steve, thank you for the very detailed information. I am new in the business and really need to know about these programs. I will be calling you today. Feel free to follow up with me as well. Thank you, Mark

Posted by Mark Montross, Listing and Buyer Specialist (Catamount Realty Group) about 9 years ago

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