– First-time homebuyers may want to consider choosing a loan program specifically designed to help get you into a home with a smaller down payment. Many first-time buyers are interested in loan options that allow them to purchase a home with 3.5% down, such as FHA or Fannie Mae loans. FHA Loans. FHA loans help first-time buyers purchase homes by.
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Best Home Loans for First-Time Buyers With No Down Payment. – The first thing to understand is that first-time home buyers with no down payment money do, in fact, have some options. For example, most of the mortgage programs available today allow for down payment gifts from third parties.
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First-Time Homebuyer Grants & Programs | Bankrate – First-time homebuyers can buy a home with a minimum credit score of 580 and as little as 3.5 percent down, or a credit score of 500 to 579 with at least 10 percent down. FHA loans have one big.