First-Time Home Buyer Loans

Loans for First-Time Home Buyers

BBuying your first home is an exciting milestone—but it can also feel overwhelming. At CTC Mortgage, we specialize in helping first-time buyers understand their options, navigate the mortgage process, and secure a loan that fits their budget and lifestyle. Whether you’re working with a modest down payment, still building your credit, or simply unsure where to begin, we’re here to help. Popular first-time buyer loans include:

  • FHA Loans – Ideal for lower credit and smaller down payments
  • Conventional Loans (3% Down) – Great for buyers with decent credit
  • VA Loans – 100% financing for eligible veterans and active-duty military
  • USDA Loans – 0% down for qualified rural and suburban areas

We’ll walk you through these options and help determine which fits your goals and eligibility.

Low Down Payment Loan Options

One of the biggest challenges for first-time buyers is saving for a down payment. Fortunately, you don’t need 20% to buy your first home. We offer:



  • FHA Loans – Only 3.5% down with credit scores as low as 580
  • Conventional 3% Down – First-time buyers may qualify for programs like HomeReady or Home Possible, offering competitive rates and lower mortgage insurance
  • VA Loans – No down payment for eligible military members and veterans
  • USDA Loans – 100% financing for buyers in eligible rural areas

If you’re purchasing in Florida, you may also qualify for the Hometown Heroes Housing Program, which provides down payment and closing cost assistance at 0% interest for first responders, healthcare workers, educators, and other community heroes. Ask us if you’re eligible!

Tips & Resources for First-Time Buyers

The right preparation can make your home buying journey smoother and less stressful. Here are a few essential tips:



  • Check Your Credit Early – Review your credit report and dispute errors if needed
  • Avoid New Debt – Hold off on big purchases or new credit cards while you prepare to apply
  • Start Saving Early – You’ll need money not just for a down payment, but also closing costs and inspections
  • Get Pre-Approved – Knowing your budget helps you shop confidently and shows sellers you’re serious
  • Ask Questions – There’s no such thing as a silly question—we’re here to walk you through every step

Avoid common mistakes like underestimating your total costs or skipping a home inspection. Our mortgage team is here to guide you through each stage of the process.

What Can I Afford?

Not sure how much house you can buy? Use our Mortgage Calculators to estimate what fits your monthly budget based on your income, debts, and savings.



Keep in mind that affordability isn’t just about the loan—it also includes property taxes, insurance, HOA fees, and maintenance. A mortgage pre-approval from CTC Mortgage can give you a clearer picture of what you qualify for and how much you should realistically spend on your first home.

Ready to Take the First Step?

CTC Mortgage is here to make buying your first home a rewarding experience—not a stressful one. Our friendly loan officers offer one-on-one support, quick pre-approvals, and expert guidance from application to closing.



Get pre-approved today and take the first step toward homeownership with confidence. Let us help you explore low down payment programs, eligibility for first-time buyer assistance, and more.


Contact Us or click below to apply now.

Explore Other Loan Options

Looking for a different type of mortgage? Compare our other home purchase programs:

Ready to Get Started?

Contact Us today for a free pre-approval or to learn more about your mortgage choices.

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Faqs– First-Time Buyer Loans

Answers to common mortgage questions

  • What is the best loan program for a first-time home buyer?

    There’s no one-size-fits-all answer, but many first-time buyers benefit from FHA loans, which allow a 3.5% down payment and flexible credit score requirements. Others may qualify for 3% down Conventional loans or 0% down VA or USDA loans if eligible. The best loan for you depends on your income, credit profile, location, and goals—CTC Mortgage will help you compare all your options and choose the right path.

  • How much down payment do I need for my first home?

    You may need as little as 3%–3.5% down if using a Conventional or FHA loan. Some borrowers even qualify for 0% down with VA or USDA loans. Many state and local programs, such as Florida’s Hometown Heroes, also offer down payment assistance to eligible first-time buyers. We’ll help you explore these programs to reduce your upfront costs.

  • Can I buy a home with bad credit as a first-time buyer?

    Yes, some programs allow buyers with credit scores as low as 580—particularly FHA loans. However, your credit will affect your interest rate and approval. CTC Mortgage will work with you to evaluate your credit report, identify improvement opportunities, and find a loan option that fits your financial situation.

  • Are there special programs in Florida or Georgia for first-time buyers?

    Yes. In Florida, eligible first-time buyers (especially first responders, teachers, and healthcare workers) may qualify for the Hometown Heroes Housing Program, which provides down payment assistance at 0% interest. In Georgia, programs like the Georgia Dream may be available for low-to-moderate income buyers. CTC Mortgage can help determine your eligibility and submit your application.

  • What’s the difference between being pre-qualified and pre-approved?

    Pre-qualification is an informal estimate based on basic financial info, while pre-approval is a more detailed process that includes reviewing income, credit, and documents. A pre-approval gives you a stronger negotiating position when making offers and shows sellers that you’re ready to buy. We recommend getting pre-approved early in your search.