#first-time-homebuyer

#first-time-homebuyer

A first-time homebuyer savings account (FHSA) is a state-sponsored, tax-advantaged savings account that helps you save money for your first home. Offered in some states, the money you contribute or the interest you earn, may qualify for state tax exemptions or deductions. As a result, these accounts may help you grow your savings faster. You can use these funds for a variety of home buying expenses including your down payment , closing costs , real estate agent commissions, or inspection and appraisal fees,