First time home buyer mortgage Alternatives. There are also alternative loan options to consider as a first-time home buyer beyond conventional mortgage options. They can offer attractive features like low down payments or a wide range of rate and term options.
There are several types of first-time home buyer loans available today. We'll help first-time buyers through the home buying process from start to finish.
As a first-time home buyer, you have an exciting journey ahead. We know applying for your first mortgage loan and navigating a complex housing market can be daunting. At U.S. Bank, we want your first home purchase to be a rewarding experience and we’re here to help first-time home buyers any way we can.
Join Deephaven Mortgage on Wednesday. LoanScoreCard. In the first webinar, management will discuss “Non-QM: Fact Vs. Fiction,” and touch base on questions like: Do You Know Non-QM Fact from Fiction.
100% financing home loans are essentially no money down home loans – they’re mortgages that finance the entire purchase price and eliminate the need for a down payment. Large down payments can be tough to save for with current housing prices, especially for first-time homebuyers, which has made 100% financing home loans increasingly popular.
MI Home Loan is designed for first-time homebuyers with low to moderate income. Borrowers need a credit score of at least 640 on the FICO® scale to qualify. For multiple-section manufactured homes, this number is slightly higher at 660.
Given these restrictions, you may be better off avoiding subsidized first-time homebuyer loans. Instead, you’ll probably come out ahead using a plain-vanilla mortgage if you’ve got decent credit. 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.
Take your pick of first time homebuyer options: 30-year fixed loan* for low monthly payments and dependability – the most popular choice 5/5 adjustable rate Mortgage* with low monthly payments – especially good if you might move within 5 years of buying
As a first-time homebuyer, you’re undoubtedly anxious and excited about moving into your new home, but take the time to step back, do the research and learn the differences between the various types of mortgages so you’ll know which one is best for you.