Prior to the crash of the real estate market, we wanted to encourage more and more home owners.  You can see where that got us. The benefits of a first-time home buyer are fewer now and vary based on where you live and what programs may be offered in your state. Some states offer grants to help with down payments, requiring them to live in the house for at least five years if they don’t want to repay some or all of the grant. You can easily search for “first time home buyer financing” and your home state with a search engine to see if there is a program that fits your needs.

But remember when searching online to focus on confirming information of benefits for your state. You’ll find all kinds of websites promoting first-time home buyer financing and most, if not all, aren’t offering anything beneficial. For example, I found one that had an entire site promoting first-time buyers and their opening line was “From Akron to Cleveland to Cincinnati to Columbus, Ohio first time home buyers have a lot of options when it comes to buying a house.” But what they don’t say is that these options are available to anyone buying a house not just first-time home buyers. There is nothing unique to these loans and the site is used to generate business and prey upon first time home buyers not to offer a unique service or benefit.

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