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Your Money: First Time Home Buyer Help
Ask anybody trying to sell a home right now - it is a buyer's market.
Buyers are naming their price and sellers are willing to deal.
If you desire to become a first-time homebuyer, there are programs out there that can help.
One year ago Claritta Stinson became a homeowner.
(Claritta Stinson/Little Rock) “Almost a year. It will be a year on the 15th."
(Jason) "How has it been?"
(Stinson) "It's been great. It's nothing like…when me and the kids were moving in we just said there's nothing like getting your own.”
Carolyn Pierson has made an offer on a home and expects to close in a couple of weeks. Both women were helped in the home buying process by classes offered by ADFA, or the Arkansas Development Finance Authority.
(Carolyn Pierson/Jacksonville) “Unless you've done it before you don't know what to do first. Or when to do it. And this helps you know what to do, when to do it and what the order to do it in. So yeah, they're very helpful.”
(Murray Harding/ADFA Program Manager) “What we do is we offer below market interest rate financing for first time home buyers in Arkansas. In addition to that we have two down-payment assistance programs that the borrowers can access if they need it. We're getting a lot of interest in what we are calling the affordable market. In other words homes priced anywhere from say 95 to 140 thousand dollars. Those types of homes are moving very quickly.”
There are about 25 agencies in Arkansas who put on the ADFA classes.
For more information about the "Home to Own" program you can call 501-682-5900.
read more stories in Your Money
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