Top 10 States For First-Time Homebuyers | FortuneBuilders

Abstract

For your convenience, we have compiled a list of the top ten states for first-time homebuyers, and their respective incentive programs: New York The following incentive programs are made available to first-time homebuyers in New York: Remodel New York: This unique incentive program allows first-time homeowners to not only finance the purchase of their home, but the repairs it needs as well. SmartStep Plus Program: The "Plus" program offers the same advantages as the standard program, but offers a low-interest rate, 30-year second mortgage to help buyers pay their down payment and closing costs. Second Mortgage Loan Program: Incentives from this program may be used in conjunction with the previous "Plus" programs, as a means to pay for down payments and closing costs. Tennessee The following incentive programs are made available to first-time homebuyers in Tennessee: First-Time Homebuyer Program: Not specific to Tennessee, this incentive program gives buyers the chance to acquire very competitive rates on a 30-year fixed-rate mortgage. North Carolina The following incentive programs are made available to first-time homebuyers in North Carolina: FirstHome Mortgage Program: Often referred to as a mortgage revenue-bond, this incentive program offers buyers a 30-year fixed-rate mortgage with interest rates that are below or at least competitive with market rates. Ohio The following incentive programs are made available to first-time homebuyers in Ohio: First-Time Homebuyer Program: Similar to many other states, Ohio offers qualifying homebuyers the chance to obtain very competitive interest rates on 30-year fixed-rate mortgages. Connecticut The following incentive programs are made available to first-time homebuyers in Connecticut: Homebuyer Mortgage Program: Only permitted for those purchasing a primary residence, this program offers attractive rates on 30-year fixed mortgages.