“Straight Survivor All Original” Another Dirty Habits BMX

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Original post by Dirty Habits and many thanks to them and their entry and picture of their BMX Bike

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Original post by dave rocks and many thanks to them and their entry and picture of their BMX Bike

First time home buyer programs, both FHA and conventional, have become more attractive in the past few months as real estate conditions in the Chicago area have improved. Beyond just the standard program options, there is a very underutilized set of programs from the Illinois Housing Development Authority (IHDA) that should be considered by some first time home buyers.

The Illinois Home Start program is a great example of these options available to first time home buyers. This loan is a 30 Year Fixed at 4.75%. There is a down payment assistance option that trades a slightly higher rate for up to $6,000 in assistance. Using an FHA vs Conventional calculator and also comparing some of the state-sponsored programs can be a winning combination.

Many people should evaluate three loans for first time home buyers. The conventional loans are great for folks with high FICO scores and slightly more down payment. The FHA loans are a little more credit-friendly and allow for smaller down payments. If you meet the purchase price and income restrictions of the Home Start program, it’s definitely worth evaluation.

It shouldn’t take more than a few extra moments to have your loan officer compare these options side by side for you. The difference can be thousands of dollars in just the first few years. In spite of all the negative news about the availability of loan programs, they’re actually better than what you would think.