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If you're looking at your first home, you are probably in for some surprises. Many people underestimate the actual cost of buying their first home, from house size to down payments. There are federal programs available for you though that can make the process much simpler. If you're looking at buying your first home, congratulations. It is a huge step in life and can be an incredibly good investment. However, there are a lot of steps involved. First is figuring out an ideal budget and beginning the house hunt. This is a process that can take months, especially for first time buyers because they're expectations may be unrealistic. After finding one that you like and that will work for you, you have to make an offer on the house and wait for the seller to get back to you. This can take a few months of negotiations going back and forth. Finally, when it is accepted, you will need a down payment (usually of about 20%) and money for closing costs, taxes and other fees. A first time buyer with no equity can find this process to be quite tolling. There are, however, first time buyer grants available. These grants are designed to help persuade people to buy homes and can give someone equity where there was none before. They are usually available through your state, but there are many private lenders beginning to offer it as well. Because it is a grant, the money will usually be free of taxes and will usually not require you to pay it back. If you do have to pay it back, it will just be tacked on to your mortgage payment so that you can't forget about it or default on it. You're probably asking yourself how to go about getting one of these. The way the program is based is typically on income. To qualify, you can't have had any home ownership or interest in the past three years. Some things that may disqualify you are unpaid government loans that have defaulted, unpaid child support, a bankruptcy within the last two years, or foreclosure. Beyond these circumstances though, if you're in the income levels, you will typically qualify. Doing some online research can help you find a place to start. Also, many lenders will be able to lead you to the organization that can help you. Utilizing the resource of the first time buyer grant can help you make your down payment and can take a lot of the stress out of buying your first home. It can also help ease the transition from renting to owning. If you're looking in to your first one, this is an excellent option for you. In Baton Rouge, real estate agent will make your property dealing a cake-walk. Find your dream house now. To know more, visit http://www.realestatelouisiana.com
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