First Time Home Buyer Loans

There are many types of first time home buyer loans avilable in the United States. In general they are broken down into two different groups. If you have credit scores of 680 or above, you most likely want to go with a HFA 3% down loan tied with down payment assistance to pay your down payment and/or part of your closing costs.  You can also use the two CBC First Time Home Buyer conventional loan products.

 

If your credit score is below 679, you most likely want to go with an FHA 3.5% down loan tied with down payment assistance to pay your down payment and/or part of your closing costs.  You can also use the two CBC FHA First Time Home Buyer loans.

 

The form below will help you find what is the best solution for your current situation! 



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First Time Home Buyer Down Payment Assistance

What is a First Time Home Buyer?  The definition of a first time home buyer differs based on who you are talking to.

  1.  If you are talking to a normal buyer, a first time home buyer is someone who has never owned a home.
  2. If you are a state HFA, a first time home buyer is a buyer that has not owned a home in three years.
  3. If you are a Realtor, a first time home buyer is someone that you should want to help become a first time home owner!