Our programs are designed with the first-time homebuyer in mind. We offer 30-year fixed rate loans to keep your monthly payments affordable. There are no pre-payment penalties so you have the option to make extra payments every month to save additional interest over the life of your loan.

What Are FHA Home Loan Requirements? | FHA First Time Home Buyer Requirements FirstHomeBuyers offers HomeReady, FHA, VA, & USDA First Time Home Buyer Programs. We make buying your 1st home simple, fun, exciting, & hassle-free. Apply Now!

Know the Types of First-Time Buyer Loans Available. Fannie and Freddie 3% Down Loans – Fannie Mae and Freddie Mac are the two largest buyers of mortgage loans. In order to compete with FHA loans they launched a 3% down payment program called a conventional 97 mortgage.

First time buyers and a real estate agent enter a home for sale in Warren, Michigan. Rates for home loans continued their downward slide, and look set to keep falling after the Federal Reserve stuck.

Popular Loans Options for First-Time Home Buyers Here are some common situations that often apply to people getting their first home loan, and possible options. You may qualify for more than one; we’ll help you find what’s best for you.

Start A Mortgage Bank Once you choose a bank or lender, you’ll apply for a mortgage directly with them.. Bank of America Current home mortgage rates. product. interest rates are lower to start than with fixed.

First-Time Homebuyer The Ohio Housing Finance Agency (OHFA) offers several affordable loan options to help you achieve your dream of homeownership. OHFA offers 30-year, fixed-rate FHA, VA, USDA-RD and conventional mortgage loans with generous income and purchase price limits designed especially for homebuyers with low- and moderate-incomes.

First-time buyers might be cash-strapped in this environment of rising home prices and higher mortgage rates. As a result, it can be harder for them to qualify for a conventional loan and they.

Is There Help For First Time Home Buyers There are a number of government assistance programs and grants that offer financial aid refinance in Texas to first-time homebuyers. Most commonly known is the basic federal housing administration, or FHA loan, which can help first-time buyers purchase a single family home.

With a fico credit score above 720, you might not receive any advantage with a subsidized first-time homebuyer loan. Once your score drops below 680, the subsidized programs will start to look better.

There are loan programs that cater to first-time home buyers, such as the FHA loan, which allow for down payments as little as 3.5%. Even some conventional loans allow for down payments as low as 3 percent. And certain loans, such as VA loans for veterans and military or USDA loans for buyers in rural areas, don’t require a down payment at.