First Time Home Buyer Discount

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The program provides public housing residents and other low-income families that are first-time homebuyers with subsidies to use toward.

The First Time home buyers’ program reduces or eliminates the amount of property transfer tax you pay when you purchase your first home. If you qualify for the program, you may be eligible for either a full or partial exemption from the tax.. If one or more of the purchasers don’t qualify, only the percentage of interest that the first time home buyer(s) have in the property is eligible.

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First-time homebuyers could snag lower costs for FHA loans under. The proposed discount of 25 basis points would reduce that amount to.

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For first time homebuyers, the paperwork can be daunting. You’ll need to provide various documents, such as pay stubs, bank statements and tax forms. Make sure you know what papers you need and have them readily accessible. A Home Lending Advisor can help you determine what documents are needed.