Buying your first home is an exciting process — but it’s important to be informed and prepared. At HUNT Mortgage, our team has worked with many first-time homebuyers to help set them up for success by securing the loan that turns their dream of owning a home into a reality.
We know that it’s important for you to save money and make financial decisions that are right for you both now and in the future. Our Mortgage Consultants will guide you throughout the entire mortgage process, from getting pre-qualified to closing. We’ll evaluate your situation so we can recommend the types of loans that are best suited to your needs. Then we’ll work with you to create a strong application. With HUNT Mortgage, getting a mortgage approval can be simple, easy and stress-free.
Helping you secure the financing that’s right for you.
Many first-time homebuyers are understandably concerned about large down payments draining their savings and creating financial stress. However, there are several mortgage options out there that allow buyers to make a low down payment — or no down payment at all. These options are especially ideal for first-time homebuyers, helping you keep more money in the bank to use toward other expenses.
Loan programs for first-time homebuyers include:
CONVENTIONAL MORTGAGES
Most conventional mortgages, which are non-government-backed loans that conform to Fannie Mae and Freddie Mac guidelines, require down payments ranging from 5% to 20% — but some allow for as little as 3%, making them perfect for first-time homebuyers on a budget.
FHA LOANS
FHA loans, which are insured by the Federal Housing Administration, allow for down payments as low as 3.5%. Plus, they have flexible credit guidelines, which makes them ideal for younger homebuyers who may not have significant credit built up yet.
VA LOANS
Active-duty service members, veterans, and eligible surviving spouses of veterans can secure a mortgage backed by the United States Department of Veterans Affairs. With a VA loan, you may not have to make any down payment.
A HOMEREADY® MORTGAGE
Whether you’re a first-time homebuyer trying to get your financial foot in the door, a repeat buyer, or a homeowner looking to refinance and lower your monthly payments, a HomeReady mortgage can make homeownership affordable.
We’ll help you move into your first home sooner.
At HUNT Mortgage, we welcome first-time homebuyers. Our Mortgage Consultants are highly experienced and able to walk you through the entire process so you can close on your new home sooner. To get started, contact us today or request a quote today.
