Home Buying in San Antonio>Question Details

vanessa, Home Buyer in Muldrow, OK

What agencies would do a home loan to a first buyer?

Asked by vanessa, Muldrow, OK Thu Jul 17, 2014

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Hey Vanessa,

Depending upon credit and income, the USDA and FHA programs would do you well. They each have their differences, and will offer different benefits. I agree that a local mortgage broker would be most beneficial. You want one that is the "fewest steps away" from their underwriter. They should answer your questions quickly, and to your satisfaction. That helps relieve most of the stress of the process. Also, many lenders are now lowering fees and waiving origination costs to stay competitive... you should definitely shop around when it comes to fees.

Good luck!
1 vote Thank Flag Link Thu Jul 24, 2014
Call your local credit union they have excellent rates for first time home buyers
0 votes Thank Flag Link Thu Jul 17, 2014
FHA has some really beneficial loan programs for first time home buyers. Down payments are often lower, giving you more flexibility.

This would be a great question to ask your local lender. Good luck!
0 votes Thank Flag Link Thu Jul 17, 2014
Just about any bank does loans for first time home buyers. I generally recommend a local mortgage banker, someone that specializes in writing mortgages versus a big bank. If you need a referral, call a local real estate company, they will be glad to help.
0 votes Thank Flag Link Thu Jul 17, 2014
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