Financial help for first time home buyers - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

Financial help for first time home buyers

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TRI-CITIES, Wash.-- The Tri-Cities have a program to help first time home owners get a break on loans.

Kennewick, Richland, and Pasco all teamed together to get federal funding to assist low-income first time home buyers.

The money comes from a U.S. Department of Housing and Urban Development fund working to get homes filled and by people who really need them. The program not only helps the people moving in but also the neighboring houses values increase. Carrie Chambers, realtor for the Pasco program, says the whole area benefits from the houses being filled and fixed up.

"It builds up the neighborhood. Now you have a stable neighborhood with occupied homes. The people love them and they're their home. They take pride in them. They take care of them," said Chambers.

In Pasco to qualify for the home loan assistance, applicants income can't exceed eighty percent of the area's median income. They also must provide one thousand dollars of the down payment. Taking first time home buyers classes are required as well.

Each city has a unique program and applicants must contact their city to find out the guidelines.