Purchase
First-Time Home Buyer Programs
Low down payment options, flexible credit paths, and assistance where available so you can start smart.
Why first-time buyer programs?
- Down payments starting from 3%–3.5% (program-specific)
- Grants/assistance and gift funds often allowed
- Flexible credit guidelines on select programs
- Fixed terms for predictable payments
Eligibility at a glance
- First-time buyer status (or no ownership in past 3 years)
- Credit & income per program/AUS
- Homebuyer education may be required
- Income/area limits for some assistance programs
Rate, APR & Payment (example)
Sample: $350,000, 30-yr fixed. APR includes certain costs of credit; note rate calculates P&I only. Taxes, insurance, and MI not included. Illustrative only; not a lock or commitment.
FAQs
What counts as a first-time buyer?
Typically someone who hasn’t owned a home in the last 3 years.
Can I use gift funds?
Often yes—documentation rules apply by program.
Is homebuyer education required?
Some programs require a brief online course and certificate.
Disclosures:
Program availability and terms vary. Underwriting approval required. Not a commitment to lend.