First Time Buyer

While there are really no more programs that are only for first time home buyers. Some loans tend to fit the first time homebuyers needs better than others.

Rurual Development Loans: These loans finance up to 100% of the sale price, and allow the seller to pay up to 6% of closing costs. These loan are only available in certain locations, and have income limitiations. To see if you or a house you are looking at may be eligible click on the link below:

FHA: The FHA program requires just 3.5% down, and will allow the seller to pay up to 6% of yoru closing costs. For these loans the 3.5% down can be gift money, so borrowers can sometimes buy a home with no money out of pocket!

VA: For our veterans and active duty military the Veterans Administration will allow 100% financing and let the seller pay up to 6% of your closing costs.

Conventional: You can get away with just a 3% down payment on a conventional loan, but the credit score requirements are much higher than VA, FHA, and RD loans, and the maximum seller assist is 3%

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