What is the best first-time home buyer lender?

Veterans United. Best First-Time Home Buyer Lender for VA Loans SoFi. Best First-Time Home Buyer Lender for Short Closing Times Bank of America. Best First-Time Home Buyer Lender for Nationwide Availability Flagstar. Best First-Time Home Buyer Lender for Alternative Credit Data Eligibility New American Funding.

Can a first-time home buyer get a mortgage?

Mortgage lenders offering first-time home buyer loans typically have more flexible minimum credit score requirements compared to traditional mortgages, making it easier for buyers with limited credit or past financial challenges to qualify. How Much Should You Put Down on a House as a First-Time Buyer?

What is a first-time home-buyer loan?

First-time home-buyer loans often have lower down payment requirements than other mortgage options. Many of these programs allow for down payments as low as 3% of the home’s purchase price, compared to the traditional 20% down payment. This reduced financial barrier can make homeownership more accessible if you don’t have significant savings.