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First Time Buyers Loan                                                                                                  

First time buyers loan products are my specialty. Below are first time buyers loan products allowing you to buy a home with a low down payment. Many first time buyers loan programs allow more debt than "conventional" loan programs making your dream of homeownership possible. Be sure to visit the Mortgage Library for other first time buyers loan information.
  1. FHA First time buyers Loan – Often the best choice in first time buyer loan programs.
  2. Aggressive First Time Buyers Loan - FHA clone but allows 3% down payment to $417,000
  3. Neighborhood Advantage – 100% Financing first time buyers loan. Requires good credit and has some income restrictions but great flexibility. 
  4. Zero down mortgage - First time buyers loan program allows 100% financing.
  5. Nehemiah Foundation FHA Program – No down payment first time buyers loan program. Standard FHA underwriting guidelines.
  6. Nehemiah Conventional Program - Higher loan limits for first time buyers. 102% financing 1% down payment. 
  7. VA Loans –100% to $417,000 including VA Funding Fee. 
  8. 80/20 –No money down combination loan 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 to a manageable level.

Read more about First time buyers loan Closing Costs

I have a page on calculating first time buyers loan qualification ratios. I have a page on first time buyers 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 produvts available for the first time home buyer. Please let me know your situation and I will prequalify you for several first time buyers programs. 

Here is a short PowerPoint presentation for first time buyers that will explain the home buying process.

Learn more about improving your credit scores

I have an article "Buying your home in 2008" by email explaining negotiating strategy in today's market.

As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your consumer and mortgage debt is structured today can have a life changing effect in the years to come.  Read more about this free, no obligation service.

First Time Buyers LoanPrequalify for your First Time Buyers Loan

 

 

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Extensive consumer information on construction,remodeling, first time homebuyer,and no documentation mortgages.