What is the Best Loan for a First Time Home Buyer?
As a first time home buyer, you will have lots of questions about the home buying process so having an accessible and reliable partner can make all the difference. As your partner in this process, we are committed to helping you find the right home loan (there are lots of choices after all) and getting the loan closed and funded on time.
What are My Loan Options?
- FHA Loans - Offers low downpayment options and easier qualifying. Credit scores as low as 500 are accepted.
- VA Loans - If you're an active duty or retired member of the U.S. Military this is the loan for you. Low rates and low down payments make this the choice for you.**
- USDA Loans - For those who live in an eligible rural area as defined by USDA this loan offers a low down payment and flexible qualifying guidelines.
- Conventional Loans - The best rates but you may be required to put down a sizable downpayment and will need a good credit score to qualify.
- Adjustable Rate Mortgages (ARM) - A loan that offers a low introductory rate for a period of 5, 7 or 10 years before it adjusts up to market rate. Great for experienced borrowers.
How Do I Get Started?
Once you have decided to move forward, contact us and speak with a Carrington loan officer.
** Eligibility includes regular military, Veterans, select member of reservists and National Guard and spouses of deceased military members