With just a little bit of information, knowledge, and guidance, even the most timid first time home buyer can be well on their way to overcoming any fear and on the road to making a home purchase.

In addition to the abiliy of financing 97-100% of a home's value, you also have the ability with most loan programs to negotiate a 3% or a 6% seller's concession. This means the seller can agree to pay up to 6% of your loan's closing costs. This is espeoially helpful when dealing with a motivated seller. Instead of only negotiating a lower purchase price you can 'blend' a negotiated sale's price with their paying of your closing costs.

One of the greatest challenges for a first time homebuyer is saving up enough money to make a down payment on their new house, especially in markets like San Francisco, Los Angeles, and New York. However, we now have programs which allow borrowers, even first time homebuyers with less than perfect credit, to purchase a home with little to no money down. Mortgage home loan financing is available as high as 97% or even 100% of the new home's value.

Being a first time home buyer has never been so easy. With the increasing number of mortgage programs available that require little to no down payment in order to purchase a home buying a home is a cinch. If you do not have money for closing costs or you want to put down a down payment many lenders will allow you to use money from a gift from a family member. This can save you from doing a seller concession and adding onto the amount you are financing and this can possibly help to lower your rate if your LTV, loan to value, is lower than 100%. Loan to value is the amount you are borrowing compared to what the home is worth. For instance if you are buying a home for $100,000 and you are financing $100,000 then your LTV would be 100%. However, if you only finance $95,000 then your LTV would be 95% and this may help reduce your interest rate or the structure of your mortgage loan, thus saving you money.