First Time Buyer Mortgage Rates
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Lenders offer first time home buyer programs that have low interest rates and low down payments.Some of these programs have income restrictions or restrictions on where the property can be located.
First time buyer mortgage rates are still very good and are still extremely low. If you are considering buying a home right now is a good time. Housing prices are a little more reasonable than in past years and it is still considered a "buyers market". With the large number of homes for sale currently this gives homebuyers more choice and more negotiating power. Therefore, consult with us today to get pre-approved for your first home mortgage.
In general, First Time Buyer Mortgage Rates are the same as previous homeowners. However, First Time Home Buyer loans may come with additional requirements to be approved. Lenders may require higher credit scores or lower debt to income ratios to qualify.
The Fannie Mae MyCommunity Loan is an excellent loan for first Time Homebuyers. There are also many local State programs as well. You may also qualify for a Down Payment assistance program. Call for more information for First Time Homebuyer programs in your state.