First Time Homebuyer

First time homebuyer loans are my specialty. Below are first time homebuyer programs allowing you to buy a home with a low down payment. Many programs allow more debt than "conventional" loans making your dream of homeownership possible. Be sure to visit the Mortgage Library.

FHA first time homebuyer loans – Often the best choice in first time home buyer programs.
Aggressive First Time Homebuyer Loan - FHA clone but allows 3% down payment to $350,000
Neighborhood Advantage – 100% Financing. Requires good credit and has some income restrictions but great flexibility.
No down payment loan - First time home buyer program allows 100% financing.
Nehemiah Foundation FHA Loans – No down payment program. Standard FHA underwriting guidelines.
Nehemiah Conventional Program - Higher loan limits. 102% financing 1% downpayment.
VA Loans –100% to $240,000 including VA Funding Fee.
80/20 –No money down combination program.
CreditFlex 97 – 97% LTV requires 1% cash. Remaining funds may be gift/loan with closing costs financed.
Option Arm Mortgage- A new series of arms offering extremely low minimum payments and 40 year terms. To 95% with Lender Paid Mortgage Insurance
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
103% Mortgage Financing 30 year fixed rate or 7 year ARM program finances sales price and closing costs.
Conventional loans - to 95% combined LTV. Referred to as 80/15/5 or 80/10/10. Eliminate Mortgage Insurance and maximize your tax benefits.
Teacher-Flex - Special program for teachers and school employees
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 and give you more flexibility in managing your mortgage payment

I have a page on calculating first time homebuyer program qualification ratios. I have a page on first time homebuyer 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 to you by email.

This gives you an idea of the variety of low down payment loans available for the first time home buyer. Please let me know your situation and I will prequalify you for several first time homebuyer programs.

Here is a short PowerPoint presentation for first time homebuyers explaining the buying process

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.