Cities have been evaluated based on property and income tax environments, as well as government loan availability through FHA, VA, and USDA. Those looking to purchase their first home must consider various options. Factors such as low down payment mortgages are crucial for aiding new buyers. Oklahoma City and Huntington-Ashland stand out for their affordability and accessibility to government-backed loan programs like the FHA and VA, making them friendly locations for first-time homebuyers.
Cities were assessed on property and income tax environments, as well as the prevalence of government loans through the FHA, VA, and USDA.
FHA loans require as little as 3.5% down and are often used by borrowers with lower credit scores. USDA loans require no down payment.
For many first-time buyers, especially those with limited savings, these programs represent the most accessible route to homeownership.
Oklahoma City, leading the rankings, has a median home price of $240,048 and monthly housing costs that average just 28% of local income.
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