How many times have you dreamed of owning your own home, instead of paying someone else's mortgage with your monthly rent money?

The experts say now may be the best time for first-time home buyers to make the dream of home ownership a reality.

"In today's market, with the reduction in properties, it's really opened the door for a lot of people that are first time home buyers that are currently renting, to be able to afford to purchase a home," Randy Poe, a realtor with Keller Williams Success Realty said.

Renter Allison Getz is one of those who is trying to get her foot in the front-door of her own home.

"It's definitely frightening because you have to look at all your bills as a whole. Can I afford this mortgage payment, the insurance, electricity, everything," Getz said.

Fortunately for Allison, and other first-timers, there is plenty of financial help. We already told you about the eight-thousand-dollar government tax rebate and the U.S. Department of Agriculture's rural development loans in part 1 of our series.

There's also the Federal Housing Administration's loan program which can allow you to put your closing costs into your mortgage.

"That's a three percent required down payment. Still very, very small, but they don't have the income caps like U.S.D.A," Poe said.

The U.S. Department of Veterans Affairs is offering incentives for military personnel.

"You don't have to be active. It's anybody that has served, so a lot of times we get some of the older generation that maybe hasn't owned a house in three years. By the way that qualifies you as a 1st time home buyer," Poe said.

Getz has already qualified for some of the incentive programs.

"I made sure i went and got a loan to know how much i really did have to spend and how much money i would have to put down myself," Getz said.

But she's still trying to find the home that suits her.

Buying a home is a lot like playing baseball. The more you study the game and prepare, the odds of you striking a deal on a home are a lot greater.

Here are some buyer's tips:

If the seller isn't budging on the price, see if they'll add extra incentives like new carpet, paint or appliances, that could sway the deal.

Also make sure you get pre-qualified loans. This could make you more attractive to lenders.

And most importantly, make sure you can afford the home.

"Because the last thing you want to do is end up to where your mortgage is choking you on a monthly basis," Poe said.

Even if you've qualified for one or more of the incentive programs, buying your first home can be intimidating.

Our first time buyer, Allison, has some advise.

"If you've thought about it, just do it," Getz said.

And if you make smart choices, your version of the American Dream could be just around the block.