First-Time Home Buyer & No Down Payment Loans

Buying your first home is exciting — but it can also feel overwhelming. Between down payments, credit questions, and loan options, many buyers assume they need perfect credit or 20% down to qualify.

The good news? That’s simply not true.

There are several loan programs specifically designed to help first-time home buyers — including options that require little to no money down.

A first-time home buyer loan is a mortgage program created to make homeownership more accessible. These programs often offer:

• Lower down payment requirements
• Flexible credit guidelines
• Competitive interest rates
• Reduced mortgage insurance options
• Down payment assistance opportunities

In many cases, you may qualify as a “first-time buyer” even if you haven’t owned a home in the past three years.

No Down Payment Loan Options

Several loan programs allow qualified buyers to purchase a home with zero down payment.

VA Loans

For eligible veterans, active-duty service members, and qualifying military spouses:

• No down payment required
• No monthly mortgage insurance
• Competitive interest rates

USDA Loans

For eligible properties in approved rural and suburban areas:

• No down payment required
• Reduced mortgage insurance costs
• Income eligibility guidelines apply

Low Down Payment Options (As Low As 3% Down)

Even if zero-down isn’t available, many programs allow:

• 3% down conventional loans
• 3.5% down FHA loans
• State and local down payment assistance programs

We’ll review all available options to find the best fit for your budget and long-term goals.