First-Time Homebuyer Resources

So, you’re wanting a place to call your own? That’s exciting! Have you done your homework? It’s going to take some preparation and research to purchase a home. We want you to be well-informed and encourage you to be your own advocate while researching and making home purchase decisions.

We’ve gathered some resources and information about being a first-time homebuyer and have provided them below. While by no means all-inclusive, we’re  hoping these resources will help get you started!

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Are you a first-time homebuyer? Know your options!
  • You’re probably familiar with FHA Loans. These are loans insured by the government, more specifically the Federal Housing Administration. FHA Loans generally require lower down payments but do require the payment of mortgage insurance premiums which protect the lender if a borrower defaults.
  • If you’re an active or previous member of the military, a VA Loan may be something to consider. These loans are offered to credit qualifying veterans, or their surviving spouses if service and entitlement requirements are met. There is a VA loan no down payment option.
  • If you’re interested in living in a rural area as designed by the USDA Rural Guaranteed Housing Program, a USDA Home Loan may interest you. USDA loan programs are designed to improve and grow rural areas and you don’t have to have a farm.
  • If you’re interested in living in an energy efficient home, you might want to consider programs that finance energy saving home improvements as part of the mortgage. Some are offered to first-time homebuyers.
  • Lastly, check your local home loan options! Inquire with local lenders who know the area in which you would like to live for financing options. You might be able to find a local down payment assistance program, or other alternative program that fits your needs!

Consider a Mobile Home!

Still on the fence? Wondering what you’ll gain by being a homeowner? Check out these benefits of being a homeowner!