Top Mortgage Brokers Since 1996

Home Loans for First-Time Home Buyers

We shop 100+ lenders to find the best rates and programs for first-time home buyers.


  • Down Payment as low as 3.5% (gift money can be used)

  • Low Credit Requirements 

  • DTI Ratio Upto 57% & Co signer allowed

  • Lowest Interest Rates
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Texas' Top Mortgage Lenders Since 1996

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In Funded Home Loans

What are the Best Loan Programs for First-Time Home Buyers?

  • FHA Loan

    FHA loans are backed by the Federal Housing Administration and are designed to be more accessible for first-time buyers.


    Key features:


    • Down payments as low as 3.5%

    • More flexible credit guidelines

    • Allows higher debt-to-income ratios in many cases

    • Requires upfront and monthly mortgage insurance

    FHA loans are often a good fit for buyers who are early in their credit history or rebuilding credit.

  • FHA Duplex Loan

    An FHA duplex loan allows you to purchase a two-unit property, live in one unit as your primary residence, and rent out the other. 


    Key Features:


    • Down payments as low as 3.5%

    • Owner-occupancy required (one unit must be your primary residence)

    • More flexible credit guidelines compared to conventional loans

    • Projected rental income from the second unit may be used to qualify

    • Mortgage insurance required (upfront and monthly)

    This option is commonly used by first-time buyers looking for a lower down payment while offsetting monthly housing costs.

  • Conventional Loan

    Conventional loans are a common option for first-time buyers with stable income and moderate to strong credit.


    Key features:


    • Down payments as low as 3% for qualified first-time buyers

    • Flexible term options

    • Private mortgage insurance (PMI) may be required with lower down payments

    • Often competitive interest rates

    Conventional loans are well-suited for buyers who want flexibility and long-term stability.

  • USDA Loan

    USDA loans are available for eligible properties in designated rural and suburban areas.


    Key features:


    • 0% down payment for qualified buyers

    • Income limits apply

    • Property location eligibility required

    • Competitive interest rates

    Many first-time buyers are surprised to learn how broad USDA-eligible areas can be.

  • VA Loans (If Applicable)

    For eligible veterans, active-duty service members, and certain surviving spouses.


    Key features:


    • 0% down payment

    • No monthly mortgage insurance

    • Flexible qualification guidelines

    • Limited closing costs

    VA loans are one of the most favorable loan options available for qualified borrowers.

  • State and Local First-Time Buyer Programs

    Depending on location, some buyers may qualify for:


    • Down payment assistance

    • Closing cost assistance

    • First-time buyer grants or programs

    Eligibility varies by program and location. These options are reviewed on a case-by-case basis.

Apply Now to Start Your Pre Approval!

Fill this 2 min form and our loan officers will match you with the best loan options.

FHA Loan Requirements: Quick Check


Typical FHA guidelines:

  • Credit score: As low as 580 for 3.5% down


  • Down payment: 3.5%


  • Income: Verifiable income (W-2 or self-employed)


  • Debt-to-income: More flexible than conventional loans


  • Mortgage insurance: Required for FHA loans


  • Property type: Primary residence only



Eligibility and pricing vary by lender.

FAQs

Got a question? We’re here to help.

  • What is an FHA loan?

    An FHA loan is a mortgage insured by the Federal Housing Administration, designed for lower down payments and less stringent credit requirements, making it a popular choice for first-time home buyers.

    Talk to a Mortgage Advisor

  • How much down payment do I need for an FHA loan?

    FHA loans typically require a minimum down payment of 3.5% if your credit score is 580 or higher.

    Let's discuss how your unique income can work towards securing your mortgage.

  • Can first-time home buyers get better rates with FHA loans?

    FHA loans offer competitive interest rates, which can be particularly advantageous for first-time buyers with less established credit.

    Reach out to us to discuss how we can work with your unique financial history.

  • What are the credit score requirements for an FHA loan?

    The minimum credit score for an FHA loan is usually 580 for a 3.5% down payment. Scores between 500 and 579 may require a 10% down payment.

    Have less than perfect credit score? Don't worry! Our mortgage experts will help you improve your credit score before applying. Talk to an expert now.

  • Are there any income limits for FHA loans?

    No, FHA loans do not have specified income limits, but borrowers must have a debt-to-income ratio within acceptable limits to qualify.

    Speak to an Advisor.

  • How to apply for an FHA Pre Approval?

    Apply for an FHA pre approval in as little as 2 minutes. Just fill this quick form, and our experts will get in touch with you to get you pre-approved and fast-track your loan application.


    Apply Now

  • Can I use an FHA loan to buy any type of home?

    FHA loans can be used to purchase single-family homes, 2-4 unit properties, condos, and manufactured homes that meet FHA guidelines.

    Let's discuss the best loan options for you.

  • What are the closing costs for an FHA loan?

    Closing costs vary but typically range from 2% to 6% of the purchase price. FHA allows sellers, builders, or lenders to cover part of these costs.

    Let's discuss the best mortgage strategy for you.

  • How can I improve my chances of getting approved for a mortgage?

    Improving your credit score, reducing debts, and increasing your down payment can all help. Keeping your financial documents organized and up-to-date is also crucial. 

    We can provide personalized tips based on your financial situation. Speak to an Advisor.

  • Can FHA loans be refinanced?

    Yes, FHA loans can be refinanced to another FHA loan, often with streamlined paperwork and without a new appraisal.

    Talk to a Mortgage Specialist

  • What are the benefits of an FHA loan for first-time buyers?

    Start by getting pre-approved by a lender who offers FHA loans to understand how much you can borrow.

    Get Pre Approved Now