Popular First Time Home Buyer Programs:​

Conventional Loans: first-time home buyers can get highly competitive rates with qualifying credit scores and 5% down payment.

FHA Loans:  popular with first-time homebuyers because they require lower minimum credit scores and down payments.

Home Possible Advantage: require only 3% down payment and gift funds may be used to help cover some down payment and closing costs.

Home Ready: Fannie Mae program with down payments as low as 3% also allow for gift funds and grants to cover closing costs.

USDA Home Loans: Loan program with a zero down payment option offered to home buyers in less industrialized areas.

VA Home Loans: Eligible homebuyers not required to have a down payment, lower average interest rates than other loans and no prepayment penalties.