Are there any current first time homebuyer programs/incentives thru FHA?

Question

Are there any current first time homebuyer programs/incentives thru FHA?

Answer 1

only ameridreams and programs like that to help with down payments

also good neighbor program for teachers fireman and police moving into under served areas of towns

Answer 2

Many localities have first time homebuyer programs.  Get a good local mortgage professional who knows about them.  My state has a wonderful bond program which has down payment assistance available.  Call several companies if you need to, just to see what is available.

Answer 3

FHA is not a first-time homebuyer program, it's just most commmonly used for first-time buyers.

This is a myth about FHA.

The "incentive" is that you get 97% financing with 3% down and you can ask for up to 6% closing costs, but you still have to pay MIP.