Ask Terry Questions First time home

First time home

By Terry Savage on June 01, 2024 | Housing / Real Estate

My boyfriend and I are looking to buy our first home at 50 years old.
I stay home with our daughter who has developmental disability, so we have little money to spend (low 200 thousands) we filled out first time home owners and other such assistance programs, but the bank we are dealing with keeps changing what we need.
How do I know if this banker is applying everything we tried to get assistance for. Is there a specific lender you recommend

Terry Says

Yes, you have the wrong banker!!  First of all, every state has first time homebuyer assistance programs.

For example, if you live in Illinois, here is the link to the Il Housing Development Authority:

IHDA – Illinois Housing Development Authority

Check your own state if you live elsewhere.  And search online for “first-time homebuyer assistance” in your state.

I think it’s wonderful that you’re embarking on this journey.  Right now, home prices are high and so are mortgage rates.  But these programs that offer downpayment assistance and lower rates could help you into a home for your future.   Just remember to set extra money aside for repairs and other unexpected expenses of homeownership.



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