A first-time homebuyer loan is designed to make homeownership more accessible for individuals purchasing their first home—or, in some cases, those who haven’t owned a home in the past three years. These programs often feature lower down payment requirements, more flexible credit guidelines, and access to down payment or closing cost assistance.
First-time buyer loans can come in many forms, including FHA, VA, USDA, or even special conventional loan programs. Many states and local governments also offer grants or second mortgage assistance to help cover upfront costs.
These programs are designed to lower the barrier to entry, making it easier for buyers to step into homeownership with confidence. Whether it’s a reduced interest rate, a smaller down payment, or education and support, first-time buyer options are all about getting you started on the right foot.