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First time buyers program?

JKFris09 Posted:

First time buyers program?

Are any of you signed up for it? FH & I went to orientation a few weeks ago and are going to start classes in Jan.

melonhead Posted:

Re: First time buyers program?

no, but i would love to hear about it.
we are looking for something like that. please fm me with details!
JKFris09 Posted:

Re: First time buyers program?

www.cdcli.org is the website to sign up for orientations - classes start in january they have suffolk & nassau locations and they offer grants to first time buyers that you dont need to pay back and they help you find the best mortgages too.

FutureMrsPD Posted:

Re: First time buyers program?

If you go to the nassau or suffolk housing development website, you can see it. The stipulations are: you and your partner can not make more than $60k a year, and you cant sell the house for 10 years...if you do sell the house before 10 years, you have to pay it back (interest free). Also, if you make 60k or under combined, they will give you $15k towards a down payment. Any questions, FM me, i have researched this for a while now.

JKFris09 Posted:

Re: First time buyers program?

Posted by FutureMrsPD

If you go to the nassau or suffolk housing development website, you can see it. The stipulations are: you and your partner can not make more than $60k a year, and you cant sell the house for 10 years...if you do sell the house before 10 years, you have to pay it back (interest free). Also, if you make 60k or under combined, they will give you $15k towards a down payment. Any questions, FM me, i have researched this for a while now.


That's not true for all the programs. Some there are no salary caps, some there are. Usually you cant buy a house for 5 fives and you can get alot of money. My cousin got $40,000 in grants and our orientation leader told us someone got $79,000 this year. There's alot of programs out there.
MrsDrinkh20 Posted:

Re: First time buyers program?

FH and I got a First time Home buyers grant from Suffolk County. For our grant, there was a salary cap. We also have to stay in our condo for 5 years otherwise we have to pay the grant back. So they are not necessarily 'free.' After five years theya re forgiven. If you move before than or sell before then, you must pay it back and in most cases there is a penalty fee. So just make sure you understand wha tyou are signing before you sign! HTH
JKFris09 Posted:

Re: First time buyers program?

I know some have stipulations and salary caps - I was just saying that some of them dont have those or they have much higher ones - but thank you.

MrsDrinkh20 Posted:

Re: First time buyers program?

Posted by JKFris09

I know some have stipulations and salary caps - I was just saying that some of them dont have those or they have much higher ones - but thank you.


just thought I would share the program we are invovled in..that's all..
JKFris09 Posted:

Re: First time buyers program?

Posted by lmt245

Posted by JKFris09

I know some have stipulations and salary caps - I was just saying that some of them dont have those or they have much higher ones - but thank you.


just thought I would share the program we are invovled in..that's all..


I appreciate it - we're hoping to start house shopping in January after we graduate.
MrsDrinkh20 Posted:

Re: First time buyers program?

excellent...its a lot of fun!

jteach711 Posted:

Re: First time buyers program?

sorry to crash, but my fh is a mortgage broker. He is very skeptical on many of these things. If anyone needs someone to talk to to get truthful information on home buying and mortgages I can get you in touch with my fh. He has helped many of our friends get into their first homes. FM me if you would like more info.

MrsDrinkh20 Posted:

Re: First time buyers program?

Posted by jteach711

sorry to crash, but my fh is a mortgage broker. He is very skeptical on many of these things. If anyone needs someone to talk to to get truthful information on home buying and mortgages I can get you in touch with my fh. He has helped many of our friends get into their first homes. FM me if you would like more info.


We used a mortgage broker also, he was wonderful. So if you'd like his info just let me know!

I know many people are skeptical but for some of us this is the only way to get intot he real estate world. So we are happy with what we ended up doin
JKFris09 Posted:

Re: First time buyers program?

Posted by lmt245

Posted by jteach711

sorry to crash, but my fh is a mortgage broker. He is very skeptical on many of these things. If anyone needs someone to talk to to get truthful information on home buying and mortgages I can get you in touch with my fh. He has helped many of our friends get into their first homes. FM me if you would like more info.


We used a mortgage broker also, he was wonderful. So if you'd like his info just let me know!

I know many people are skeptical but for some of us this is the only way to get intot he real estate world. So we are happy with what we ended up doin


I actually work in real estate - I know how it can be - it's not easy to live on LI - too d*** expensive!! lol but we're not going anywhere.
FutureMrsPD Posted:

Re: First time buyers program?

Yes, there are many first time home buyers programs....i would say 90% of them have salary caps....but its good for me bc FH works for his father and he's pretty much all off the books! Thanks goodness!

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