First-Time Homebuyer Loans
There are a wide variety of specialized mortgage programs designed for First-Time Homebuyers. They often contain incentives such as lower interest rates, lower down payment requirements and down payment assistance.
Buying your first home is a significant milestone, and at Murray Mortgage Solutions, we understand that the journey can be both exciting and overwhelming. That's why we offer specialized first-time homebuyer mortgage programs designed to make the process easier and more accessible.
First-time homebuyer (FTHB) mortgages come with unique benefits that cater to the needs of those entering the housing market for the first time. These benefits typically include lower down payment requirements, more flexible credit score guidelines, and additional down payment assistance programs. It also often means a lower interest rate incentive depending on a variety of factors. Whether you're looking for a single-family home, a condominium, or a townhome, we have a variety of loan options to suit your needs and budget.
After you complete the Pre-Approval application, we’ll schedule an in-depth meeting to go over your options, how they impact you financially and what to expect along the way. We’ll also provide you with a variety of tools to use in order to visualize the impact of various purchases prices, down payments, loan programs, interest rates, ETC.
Highlights
0-3% Down Payment (Subject to Change and Based on Loan Type)
Conventional, FHA, VA and USDA each offer specific FTHB advantages
Generally Lower Interest Rates than Non-First-Time Homebuyers
Maximum Debt-To-Income Ratio of 45-55%
550 Min Credit Score
**Underwriting guidelines are subject to change. Please contact us directly for more information regarding qualification standards.