First Time Home Buyer Loans
Programs to Help First Time Home Buyers
Loans guaranteed by the Federal Housing Administration give First Time Home Buyers the opportunity to secure a low interest mortgage with only 3.5% down payment.
For homes within qualified rural areas, USDA Loans can help First Time Home Buyers get the house and acreage they need to get started on their home ownership journey.
For First Time Home Buyers that have served in the military, a VA Loan is a great solution for providing the financing necessary to settle into a new home with great low rates with no money down.
Fannie Mae and Freddie Mac
For borrowers that have a strong credit score, but are lacking a sufficient down payment, these government-sponsored enterprises (GSEs) set borrowing guidelines for loans they purchase from conventional lenders on the secondary mortgage market. They require a 3% down payment and a minimum credit score of 620 with a clean credit history to qualify.
Good Neighbor Next Door
Sponsored by HUD, this program benefits teachers, law enforcement officers, firefighters, and EMTs with up to a 50% discount on a home's listed price in designated revitalization areas that they commit to staying in for at 3 years.
FHA Section 203(k)
When your first home is a fixer upper and you have the ambition to tackle it head on, but don't have the funds, a FHA Section 203(k) loan can provide the financing necessary to turn it into your dream home.