First-time homebuyers are defined as individuals who have never owned a home or have not owned one in the last three years. They may qualify for affordable mortgages with assistance for down payments and closing costs, often requiring completion of a homebuyer education course. Various programs offer benefits like lower monthly payments and down payment assistance. It's essential for buyers to assess their financial situation, understand available programs, and get preapproved for a mortgage before house-hunting.
Continue to full article
