If you’re thinking of buying your first home, you probably have a lot of questions. Is now the right time to buy? How do you choose the right home? What will financing look like? These are the concerns on the mind of every first-time homebuyer, and The Department of Housing and Urban Development (HUD) has the answers you’re looking for.What are the Advantages of Homeownership? Every time you make out a check for you monthly housing expenses as a homeowner, you’re investing in your future. As you pay down your mortgage, you build equity in your home that can be used for retirement, or eventually pay off your home and greatly reduce your living expenses. You can also save money on income taxes, because mortgage interest is tax deductible. Having a place that’s all your own gives you the freedom to decorate, remodel and landscape however you choose, making your home the perfect, unique spot for you. Can I Still Buy a Home if I Have Bad Credit and No Down Payment Saved Up? There are federal mortgage programs available to help less-qualified buyers get approved for homeownership. There are HUD-funded housing counseling agencies available to determine what you qualify for. Programs are available to help those with bad credit, low incomes, single income and single parent families, and many others. Your Axiom Financial mortgage consultant can walk you through all of your options and make recommendations for you. How Much Money Will I Have to Pay Out of Pocket to Get Into a Home? The answer to this question depends on what type of loan you qualify for, and what type of property you’re purchasing. Some of the common out of pocket expenses for homeowners include a down payment, loan closing costs, loan fees, and even necessary home improvements. There are federal mortgage programs available to help cover these costs for those who qualify, so your out-of-pocket expenses could be zero. Check with your Axiom Financial mortgage consultant to find out what you could qualify for. Do I Need a Real Estate Agent? Having a real estate agent can make the homebuying process easier. They can put you in touch with qualified lenders such as Axiom Financial. The real estate agent can also help you to narrow down your property search. They can be a great asset when it comes time to make an offer, especially if counter-offers and concessions will be involved. Find a real estate broker that your friends or family have had a good experience with, and let them help guide you down the path to homeownership. You can find answers to other common questions for first-time homebuyers, and links to other federal resources by visiting The Department of Housing and Urban Development.