Williamsburg Real Estate and Homes Guide

HUD announce OK to monetize tax credit for first time home buyers to use as a downpayment.
Who qualifies: The biggest qualification is to be a first time home buyer or in this instance, someone who has not owned a home for the past three years.
http://www.hud.gov/news/release.cfm?content=pr09-072.cfm

From the HUD press release: Currently, borrowers applying for an FHA-insured [...]

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WILLIAMSBURG HOMES: FINANCIAL HELP
Home prices often cause many first-time buyers to seek help from their families for the down payment on a new home. If your parents are providing financial assistance for the purchase of a home, it is important that you have very clear agreements with them about the conditions under which their help [...]

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Free money programs from the Government: Information from the FHA website.

FHA Cash Down Payment Grants
Down payment assistance and community redevelopment programs offer affordable housing opportunities to first-time homebuyers, low-income and moderate-income individuals and families who wish to achieve homeownership.
Ameridream
The AmeriDream program offers gift funds up to 10% of the home’s purchase price which do [...]

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