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Thread
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Topic: First-Time Homebuyer Assistance?
Author: Daniel Leister
Date Posted: 9/25/2000
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My fiancee and I are 24 and 20 years old and are looking into buying a home rather than renting our apartment. We currently don't own any land or home so we have no equity to put forward on a new home. We do have a small savings for a down payment (approx $5000) but we were wondering if there are any special programs or government grants that are available to first time homebuyers? We both have excellent credit, I've bought several cars and pay for any purchases made on credit in full when the balance comes due. She has paid her credit balances in full each time as well. We have been looking (and dreaming) at homes in the area however when we sit down with the online calculators and enter in the figures, it always comes out that our monthly payment would be outrageously high and completely impossible. In our daily travels around the area all we see are beautiful single family homes with the three car garage, two young children playing in the yard, and their parents who can't be much older than we are. The whole process is aggravating and maddening. While we sit here waiting for the landlord to replace a piece of siding, or fix the screen door for months, others are enjoying their beautiful newly constructed home. Any advice or help on the special programs that may be available to us? We are located in Eastern Pennsylvania, thank you.
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