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Home Loans for First-Time Home Buyers

We shop 100+ lenders to find the best rates and programs for first-time buyers, so you don’t have to.


  • 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


Start Your Pre Approval
  • Takes 2 mins to complete

Making Homeownership Possible for Every Buyer

Whether you’re just starting out or ready to move into your forever home, we help:


  • Renters ready to buy their first home


  • Young families looking for more space


  • Buyers with student loans or credit challenges


  • Veterans and military families using VA benefits


  • Buyers in rural or suburban areas looking for zero-down options


  • Anyone worried about saving for a down payment


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

Here are some of our most popular loan options for first time home buyers.


Conventional Loans


First-time buyers with good credit and some savings for a down payment.

Works for single-family homes, condos, and some multi-units

Requirements


- Minimum down payment: 3% (special first-time buyer programs)

- Credit score: 620+

- PMI required if down payment < 20%

FHA Loans (Federal Housing Administration)


Buyers with lower credit scores, limited savings, or past financial challenges who need a more accessible path to homeownership.

Requirements


- Down payment as low as 3.5%

- Credit scores starting at 580

- More lenient debt-to-income (DTI) requirements

- Government-backed for lender flexibility

FHA Duplex Loan


Just 3.5% down gets you in, living in one unit, and the unit next door? It’s working for you, bringing in that sweet rental income.

More Details


- Jump in with just 3.5% Down Payment

- The rental income could help you qualify for more & boost your buying power

- With loan limits going up to $700,000, your dream duplex isn’t far off.

USDA Loans (Rural & Suburban Areas)


First-time buyers purchasing in qualifying rural or suburban areas with modest incomes.

Requirements


- Zero down required

- Competitive fixed interest rates

- Income limits apply based on household size and area

- Perfect for smaller towns and areas outside major cities

VA Loans (Veterans & Active Military Families)


One of the most affordable home loan programs available for active-duty service members, veterans, and eligible spouses.

Requirements


- Zero down required

- No PMI, lowers monthly costs significantly

- Competitive interest rates

- Government-backed for peace of mind

Loan Type Down Payment Credit Score PMI Required Zero Down Option?
Conventional 3% 620+ Yes (drops at 20% equity) No
FHA 3.5% 580+ Yes (remains unless refinanced) No
VA 0% Flexible No PMI Yes
USDA 0% 640+ recommended No PMI Yes

How to Choose the Right Loan?


When comparing programs, think about:


  • Your Savings


  • Do you have funds for a 3-5% down payment, or do you need zero-down options?


  • Your Credit Score


  • If your score is below 620, FHA or USDA  might be a better fit.


  • Your Location


  • USDA loans  are ideal if you’re open to rural or suburban living.


  • Your Service History


  • If you’re a veteran  or active-duty military, VA loans are unbeatable.


Get a Quote

Apply Now to Start Your Pre Approval!

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

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