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This is an awesome time to be a "first time buyer".
To stimulate the economy, the current administration is implementing or expanding some great programs to make getting into your first home more affordable than ever.
In our area, there are two available to you...the USDA loan program and FHA. The neat thing about these programs is that you can get into a home with very little down payment and in the case of the USDA loan, avoid having to pay PMI insurance which can add a couple of hundred dollars to your monthly house payment. This means that you may be able to afford a nicer home than you thought you'd be able to buy. Combine this with unprecedented low interest rates, and you've got a winning opportunity to become a homeowner rather than a renter.
What are the first steps you need to do?
It probably seems pretty overwhelming when you first start looking into it, but don't let the complexity of the process stop you. I can help you find a good lender who will walk you through the loan qualification process and once we know how much home you can afford, we can starting looking for the perfect home for your family's needs. We do this all the time so it's easy for us and we want to make it easy for you too....
Here's some helpful information to get you started....
Link to Seattle Times article published, 3/21/09 http://seattletimes.nwsource.com/html/realestate/2008894939_firsttimebuyers22.html
What about the federal tax credit?
Here's a link to a great page that explains the tax credit and who qualifies for it.
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