At Open Mortgage, we offer a great selection of home financing solutions for first time home buyers including a number of low and no money down mortgage products. Our Residential Mortgage Loan Originators can help you explore your options so that you can find the right program for your individual needs.
Receive a free, no-obligation consultation by calling (888) 602-6626. You may also complete the FREE Home Purchase Qualifier form at the top of this page and one of our mortgage professionals will follow-up with you with additional information on our products and services.
Popular First Time Home Buyer Loan Programs:
USDA Rural Housing Loans: Great option for qualifying lower and middle-income borrowers seeking a $0 down payment solution in a USDA eligible community. Note that there are many geographic areas which qualify that you may not think of as rural (e.g. suburbs of cities).
HomeReady: Fannie Mae program with down payments as low as 3%. Much of the down payment and closing costs may come from gift funds, grants, or community seconds (where available).
Home Possible Advantage: Freddie Mac program which requires 3% down payment. Similar to HomeReady in that gift funds may be used to help cover some of the down payment and closing costs.
VA Loans: Available for qualifying active duty servicemen and women in the US military, veterans, and eligible surviving spouses. Down payments as low as 0%.
FHA 203K Loans: Home renovation loan program requiring low money down. Borrowers may be able to finance the costs of eligible improvements and repairs into the loan amount.
Conventional Loans: Qualifying first-time buyers can get highly competitive rates with as little as 5% down. Available in a variety of fixed rate terms.
A better mortgage. A brighter future.
Think you are ready to take the leap?