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Updated almost 6 years ago,
First Time Home Buyer Programs?
I'm almost out of debt. My credit score is hovering at around 610. I don't currently have anything saved but between tax returns and some insurance claims, I should have at least 1k in the bank soon.
Once I eliminate my last few debts that will be an extra few hundred dollars a month I could start saving as well.
I really want to get started house hacking. I live and work in Aurora CO, which is where I will be looking for my first property. I'm an avid believer in that there is always a great deal to be found and I am confident I can find one.
I guess to get to my question I am wondering if it is recommended to use first time home buyer programs/grants in order to get into my first property. I will be taking the necessary class to qualify for the FHA loan next month and am searching for other programs out there that can help me get into a property sooner rather than later.
I am open to any possible avenues to accomplish this goal and am concerned that my lack of down payment may slow me down. I don't want to wait any longer so I am in turn asking, how can i come up with the necessary down payment sooner rather than later? More specifically what loans, products or services are available to help grease the gears so to speak?