First-Time Homebuyer
First-time homebuyer programs provide lower interest rates, reduced down payment requirements, and financial assistance options.
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.
Not sure which loan option is right for you? As a Mortgage Broker, we take a single application and use it to pre-qualify you for a variety of loan types, ensuring you receive the best possible financing solution for your unique situation. With our ClearPath™ application system, you have full transparency and flexibility, allowing you to move forward with confidence.
Highlights
Low Down Payment Options
Conventional, FHA, VA and USDA each offer specific FTHB advantages
Generally Lower Interest Rates than Non-First-Time Homebuyers
Maximum Debt-To-Income Ratio up to 45-55%
550 Min Credit Score
*Information provided is for educational purposes only and is subject to change. All loan programs, interest rates, down payment requirements, and terms are subject to credit approval, underwriting guidelines, investor requirements, and may change without notice. Not all applicants will qualify. Restrictions may apply, including but not limited to geographic limitations, property type, and occupancy requirements.