Like HowStuffWorks on Facebook!

10 Tips for Helping Your Child Buy a First Home


4
Tax Credits

One thing that your child may not know is that there are programs out there tailor-made for a first-time homebuyer. The Federal Housing Administration, or FHA, is there specifically to help first-time buyers, so make sure your kids know about it. The programs the FHA offers typically call for low down payments and even allow those down payments to come in the way of a gift from a family member. Plus, FHA-assisted loans are generally a bit more flexible with your credit scores than your average bank might allow.


More to Explore