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Buying your first home                                                                                                 

Buying your first home programs to help you buy your first home are my specialty. Below are  first time homebuyer programs allowing you to buy your first home with a low down payment. Many programs allow more debt than "conventional" loans making your dream of homeownership possible. Email me with questions on buying your first home
  1. FHA Loans – Often the best choice in buying your first home programs.
  2. Aggressive Buying Your First Home Loan - FHA clone but allows 3% down payment to $417,000
  3. Neighborhood Advantage – 100% Financing. Requires good credit and has some income restrictions but great flexibility. 
  4. Zero Down Mortgage - First time home buyer program allows 100% financing.
  5. Nehemiah Foundation FHA Loans – No down payment program. Standard FHA underwriting guidelines.
  6. Nehemiah Conventional Program - Higher loan limits. 102% financing 1% downpayment. 
  7. VA Loans –100% to $417,000 including VA Funding Fee. 
  8. 80/20 –No money down combination program. 
  9. CreditFlex 97 – 97% LTV requires 1% cash. Remaining funds may be gift/loan with closing costs financed. 
  10. Option Arm Mortgage- A new series of arms offering extremely low minimum payments and 40 year terms. To 95% with Lender Paid Mortgage Insurance 
  11. Homebuyer's 107% LTV - 107% LTV. Purchase or refinance and finance the sales price, closing costs, and reduce your consumer debt all in one loan
  12. 103% mortgage financing 30 year fixed rate or 7 year ARM program finances sales price and closing costs.
  13. Conventional Loans - to 95% combined LTV. Referred to as 80/15/5 or 80/10/10. Eliminate Mortgage Insurance and maximize your tax benefits.
  14. Teacher-Flex - Special program for teachers and school employees
  15. Interest Only Mortgage- Offer low payments and flexibility. You may qualify for more home than you think!

I am seeing more first time homebuyers evaluating an interest only mortgage approach to help you qualify for a larger loan or to reduce your payment.

I have a page on calculating first time home buyer program qualification ratios. I have a page on first time home buyer mortgage documentation requirements.

Learn more about first time homebuyer programs in the Mortgage Library  I also have a Free report "Buying your First Home" available by email.

This gives you an idea of the variety of low down payment loans available when buying your first home. Please let me know your situation and I will prequalify you for several first time homebuyer programs. If you are sure about the right program for you, request a Good Faith Estimate before you apply. Prequalify for your First Time Homebuyer Program

Many of my clients are converting from fully amortizing payments to an interest only approach with a significantly lower monthly payment. I have some extensive information available. Read more to see if this powerful tool could work for you.

Brand New! I have purchased new financial modeling software that can do sophisticated analysis of your situation today as well as make suggestions on how small changes in how your mortgage is structured today can have a life changing effect in the years to come. Modules available include the Total Cost Analysis to compare the cost of up to 4 loans over the length of time you plan to be in the home; an Equity Repositioning Analysis to see how small changes in your debt structure today can have a huge impact in years to come; a Consolidation Analysis to see how consolidating debt can change your financial future; a PMI Analysis to see if eliminating PMI will be effective for you; and a Rate Watch Report which all my past clients are enrolled in to insure they remain in the mortgage that is best for them in their current situation. If any of these free analysis are of interest to you, please email me with as much specifics of your situation as possible

I hope this information was useful to you. Please scroll down to view my Mortgage Market Guide. A weekly publication explaining the financial markets from a consumer's perspective that is available by email. I have nearly 8,000 subscribers and would be happy to have you as well.

 Buying your first homePrequalify for Buying your first home.


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