First Time Home Buying Simplified Episode 4
Hi everyone, I’m Scott DiGregorio, your mortgage guy. For this episode, I want to talk specifically to all the First Time Home Buyers out there.
Funnily enough, there are a lot of people that come into my office and say, “I’m a first-time home buyer!” And unfortunately, that doesn’t get you very far these days. Back in the day, when I first started my career, there were all sorts of government programs out there for first-time home-buyers and the truth is, there aren’t as many out there anymore.
It’s important to note that just because you’re a first-time homebuyer it doesn’t mean that you have better opportunities. And on the flip side, if you’re not a first-time homebuyer it doesn’t mean that you have worse opportunities.
While it’s true, I have some programs where I could do 3% down on a conventional loan program if you’re a first-time homebuyer. But the truth is, I could do a 3% down if you’re not a first-time homebuyer. You could do FHA whether you’re a first-time homebuyer or not.
When you start getting into the area of downpayment assistance there are some perks there for first-timers, but I don’t know where this misconception from that comes from. First-time homebuyers have some perks that people have even if they are not first-time homebuyers.
By the way, it would be remiss of me to not define the first time home buyer from a mortgage standpoint. If you have not owned a home in the last 36 months you are technically considered a first-time homebuyer. It doesn’t do much for you but that’s a checkbox I would check off on the application.
If you’re curious about what programs are out there for you and your situation, just reach out to me, I’m always here to help (239-910-6040.) My name is Scott DiGregorio. I’m your Mortgage Guy. Thanks for watching, I’ll talk to you soon. Take Care.