As a first-timer on First Time Home Buyer Programs, you can get enjoy benefits that include special loans that come with low-interest rates, down payment, closing cost assistance, and more. Learn more about first-time home buyer programs.
In the meantime, first-time home buyer programs and grants offer you the loan that you need to purchase your dream home or help you in becoming homeownership. We will provide you with the best national grants, programs, and loans for first-time home buyers. With the program, you can get your first home with the benefit of not making a 20 percent down payment.
First-time Home Buyer Program and Lenders in USA
Northeast
| First-time home buyer programs | Participating lenders |
| Connecticut | CHFA lenders |
| Maine | MaineHousing lenders |
| Massachusetts | MassHousing lenders |
| New Hampshire | New Hampshire Housing lenders |
| New Jersey | NJHMFA lenders |
| New York | SONYMA lenders |
| Pennsylvania | PHFA lenders |
| Rhode Island | Rhode Island Housing lenders |
| Vermont | VHFA lenders |
Midwest
| First-time home buyers programs | Participating lenders |
| Illinois | IHDA lenders |
| Indiana | IHCDA lenders |
| Iowa | Iowa Finance Authority lenders |
| Kansas | KHRC lenders |
| Michigan | MSHDA lenders |
| Minnesota | MHFA lenders |
| Missouri | MHDC lenders |
| Nebraska | NIFA lenders |
| North Dakota | NDHFA lenders |
| Ohio | Ohio Housing Finance Agency lenders |
| South Dakota | South Dakota Housing lenders |
South
| First-time home buyer programs | Participating lenders |
| Alabama | AHFA lenders |
| Arkansas | ADFA lenders |
| Delaware | Delaware State Housing Authority lenders |
| District of Columbia | DCHFA lenders |
| Florida | FHFC lenders |
| Georgia | Georgia Dream lenders |
| Kentucky | Kentucky Housing lenders |
| Louisiana | Louisiana Housing Corporation lenders |
| Maryland | Maryland DHCD lenders |
| Mississippi | Mississippi Home Corporation lenders |
| North Carolina | NCHFA lenders |
| Oklahoma | OHFA lenders |
| South Carolina | SC Housing lenders |
| Tennessee | THDA lenders |
| Texas | TDHCA lenders |
| Virginia | VHDA lenders |
| West Virginia | West Virginia Housing lenders |
West
| First-time homebuyer programs | Participating lenders |
| Alaska | AHFC lenders |
| Arizona | Arizona Department of Housing lenders |
| California | CalHFA lenders |
| Colorado | CHFA lenders |
| Hawaii | HHFDC lenders |
| Idaho | Idaho Housing and Finance lenders |
| Montana | Montana Housing lenders |
| Nevada | Nevada Housing Division lenders |
| New Mexico | MFA New Mexico lenders |
| Oregon | OHCS lenders |
| Utah | Utah Housing Corp lenders |
| Washington | WSHFC lenders |
| Wyoming | Wyoming CDA lenders |
Benefits of First-time Homebuyer Programs
First-time homebuyer programs, grants, and loans serve as a form of financial assistance in providing you with the funds you need to become a proud homeowner. However, eligibility includes people that meet the required income restrictions and have excellent credit scores. Here are some of the benefits enjoyed:
- Grants
- You get assistance as well as a closing fee
- Deferred payments whereby you won’t be charge interest.
- Savings on interest.
- Loan forgiveness.
Keep in mind, the following programs vary in different locations or situations. You can encounter certain restrictions like financial need and more.
What to consider with First-time homebuyer programs?
First of all, before you can start shopping for a first-time homebuyer program, grants and loans, you need to know that you must meet the definition of a first-time home buyer. In most nonprofit and government program, a first-time homebuyer is considered as someone that doesn’t have a home or haven’t owned a home for the last 3yrs.
While some government-backed programs like USHA loan and FHA stated that the property must meet the required standards which determine your qualification. Also, you might find also find requirements like income restrictions for local and state programs.
Best Mortgage Lenders for First-time Homebuyers
Keep in mind, there are rooms for mortgage lenders, but as a first-time homebuyer, it is a good idea to work with a broker that will provide you with assistance and various options that you need. Here are some of the reputable best lenders:
- Trusit
- LowRates.com
- Navy Federal Credit Union
In conclusion, each participating lender has a different process for first-time homebuying. Therefore, you can visit their respective website to view the process and also the requirement.