Home Loans for First Time Buyers
Today is a great time to be a first time buyer in the greater Chicago market. Home prices are more affordable now, interest rates are still near historic lows, and there are several creative home loan programs for first time buyers.
Below are some examples of loan programs and financing solutions that help make home ownership affordable for first time home buyers:
- FHA home loans with as little as 3.5% down
- Conventional fixed rate loans with as little as 5% down
- PMI buyout programs (eliminates monthly mortgage insurance)
- Tax credit programs available through IHDA (Illinois Housing)
- Down Payment assistance programs through IHDA
- VA Financing with no down payment required for qualified Veterans
Home buyer education is the key to understanding and utilizing many of these first time buyer programs. For information on any of these programs please call us at 708-531-8388 or click the "Get A Quote
" button on the top of this page to apply today!