This is a program for first-time homebuyers. It is a 0% interest, non-repayable, 3% of the purchase price grant. This is used on a Conventional Fannie Mae loan.
Being that I am Mortgage Banker that happens to be a Young Professional, I tend to work with a lot of First Time Home Buyers, Millennial’s & Young Professionals. One of the questions that I am constantly asked is “How long after graduation do I need to wait until I can purchase my first home?” or some people tell me that they know that they “Cannot purchase a home because they started their first job only a few months ago”.
