Explore down payment assistance programs that may help eligible buyers reduce upfront costs and move closer to homeownership with more confidence.
First time home buyer loans are mortgage options designed to help new buyers purchase a home with clearer guidance, flexible qualification options, and lower down payment opportunities when eligible. These loans can include FHA, conventional, VA, USDA, and down payment assistance programs depending on your income, credit profile, location, and homeownership goals.
First time home buyer loans can benefit buyers who are purchasing their first home, buyers who have not owned a home in several years, renters ready to become homeowners, and borrowers who need help understanding their loan options. They may also be helpful for buyers who want to compare low down payment options or explore available assistance programs.
First time home buyer loans work by matching you with a mortgage program based on your income, credit, down payment, debt, and property goals. Josh Lemos helps you review what you may qualify for, estimate your monthly payment, compare loan options, and understand the steps from pre approval to closing.
Common first time home buyer loan options include FHA loans, conventional loans, VA loans, USDA loans, and down payment assistance programs. The right option depends on your financial situation, property location, credit profile, and how much you plan to put down.
First time home buyer loans may offer lower down payment options, flexible credit guidelines, access to assistance programs, and a clearer path into homeownership. They can also help buyers understand affordability, closing costs, loan terms, and the steps needed to buy with confidence.
A first time home buyer loan may be right for you if you are ready to buy a home but want guidance on what you qualify for, how much you need down, and which mortgage option fits your goals. Josh Lemos can help you compare available programs and choose a loan path that makes sense for your budget and long term plans.
Compare the first mortgage and assistance as a package. The property's state and the selected program determine which help may be available and what you owe later.
No. Colorado, California, Florida and Oregon have different state and local programs. Eligibility is tied to the program and property, not simply the loan officer’s service area. Confirm the exact provider, participating lender and current funding before including assistance in your budget.
CHFA describes a grant and a deferred second-mortgage option with eligible CHFA first mortgages. Its current page states that higher interest rates apply when using assistance. Review the actual option, limits, eligibility and repayment events with a participating lender rather than treating all assistance as free financing.
A qualifying grant may have no repayment obligation under its terms, while a deferred loan postpones repayment until specified events. Forgivable loans are another structure with conditions. Read the actual agreement so the amount received and possible future debt are clear.
The assistance may impose separate income, purchase-price, property, ownership-history, education or lender-participation requirements. Funding may also be limited. Both the first mortgage and assistance must approve the proposed combination; passing one review does not settle the other.
Sometimes, when each source and the first mortgage’s rules permit it. Funds have eligible uses and limits. Ask for a final cash-to-close breakdown so credits are not counted twice and any required personal contribution is clear.
Compare rate, fees, full payment, cash at closing and what would be owed at a sale or refinance. Consider how long you plan to stay. An upfront cash benefit may be worthwhile, but the longer-term cost and repayment conditions should be visible before choosing it.
Information checked September 6, 2026. Sources: CFPB: Mortgage costs · CFPB: Types of loans · CHFA: Down payment assistance.
