First Time Home Buyer Loans

Buying your first home is a big step and can be overwhelming, but the benefits of being a first time home buyer make it all worthwhile. If you are a first time homebuyer, it is good to know there are a number of advantages to owning a home vs renting. Owing your own home not only allows you to have a place but also help you start building your financial net worth. You will also be  able to establish credit; receive tax benefits; and best of all, you can stop throwing your money away on rent.

Guardian Mortgage Inc has home loan experts who specialize in first time home buyer programs. We can help you through the process of buying your first home and choose the best home financing option, so you can afford your dream home without struggling to pay your mortgage each month.

We have a wide variety of competitively priced loan programs for first time home buyers including:

Conforming Fixed Rate and Interest Only

Conventional Conforming loan transactions are the Fannie Mae® fixed-rate loan programs provide a fixed interest rate and fixed payments for the life of the loan. The mortgage  interest rate will remain the same throughout the term of the mortgage for the original borrower. Our popular 30 Year fixed rate mortgage is often the best option for first time homebuyers.

Fixed-Rate Interest Only

Under this program, the borrower has the option of paying interest only for the first 10 years of the loan term. The loan is then fully amortized over the remaining term of the 30-year loan. The borrower must be qualified at the PITI payment based on the fully amortized rate.

FHA Fixed and Arms

The Federal Housing Administration (FHA) make the home buying process less complicated and expensive and keep existing homeowners from losing their homes. This mortgage program is a fully amortizing program that is available for fixed rate loans, for fixed period ARMs and for interest level payments for the life of the loan. FHA mortgages are available to all qualified home buyers, but are subject to maximum mortgage limits for each county in your state. FHA offers low down payment options, flexibility and charge less for mortgage insurance premiums (MIP) compared to a conventional loan. FHA is a great program for first time home buyers because the down payment required is usually smaller than the down payment for a conventional loan.

Jumbo Fixed Rate

The Jumbo Fixed Rate product is a mortgage loan program offering fixed rate loans with balances higher than the conforming balance limit to well-qualified borrowers. Generally used for.

Purchase and refinance for primary residence, second homes, and investment properties.

Home Possible 97 and Home Possible Neighborhood Solutions 97 Fixed Rate

Home Possible Mortgages are a responsible, low down payment mortgage option that will help you realize new possibilities to expand your mortgage business and help more borrowers realize their dream of homeownership.

Home Possible provides is a great program for first-time homebuyers and low- to moderate-income borrowers.

Home Possible Neighborhood Solutions offers additional flexibilities for teachers, firefighters, law enforcement officers, healthcare workers and military personnel, including members of the United States Army, Navy, Air Force, Marines Coast Guard and National Guard.

Click here to get the home buyer’s guide to Home Possible 97  Home Possible and Neighborhood Solution 97 Loan Program.

MyCommunityMortgage®: MyCommunity 97

The MyCommunityMortgage® loan program  is Conventional Confirming Fixed loan is designed for low-to-moderate-income homebuyers. This type of loan program provides a fixed interest rate and level payments for the life of the loan. This program is more suitable for borrowers with good credit histories who may have difficulty in saving for a down payment. The borrower does not have to be a first-time homebuyer. It is a fixed rate program available for a 30 year fully amortized term. Homebuyer Education is required in certain scenarios.

HomePath Financing

The Fannie Mae HomePath® program is a fixed-rate, fully amortizing loan program that provides the financing for properties that are owned by Fannie Mae as a result of foreclosure or other similar action such as a deed-in-lieu. To be eligible for  Fannie Mae HomePath Financing .the property must be designated by Fannie Mae as eligible for a HomePath® Mortgage. Only 3.5 minimum down payment is required and great part of this, no appraisal and no private mortgage insurance required.

Click the following images to get more information about the program.

HomePath financing, available only on Fannie Mae-owned properties, offers great benefits — low down payment, no mortgage insurance, expanded seller contributions, and more. HomePath Mortgage is available for move-in ready properties while HomePath Renovation Mortgage provides both the funds to purchase and to renovate in one loan. You also can use the financing of your choice from any lender.

USDA Rural Housing Program

The Guaranteed Rural Housing Loan Program is government insured home loan that offered through the Rural Housing Service (RHS), an agency of the U.S. Department of Agriculture. The program offers assistance to low and moderate-income rural residents whose income is equal to or less than 115% of the area median income. USDA Rural Housing Program is designed to assist qualifying rural residents with better access to affordable housing finance options with little or no down payment or out-of-pocket costs. Borrowers may obtain a loan to purchase a new or existing home that is located in a designated rural area with NO Money Down. USDA Loans offer 100% financing to qualified buyers, and allow for all closing costs to be either paid for by the seller or financed into the loan. USDA offers  fixed interest rate.

VA – Veterans Administration Home Loan Program Fixed and ARM PROGRAM

In 1944 Congress created the VA Loan program to help returning war veterans achieve the dream of home ownership. Since then, the Department of Veterans Affairs has helped more than 18 million military members realize their dream of home ownership trough VA loan. VA loan programs are available to eligible veterans and  particularly beneficial to those veterans who do not have much cash available for down payment and closing cost. VA underwriting guidelines allow debt-to-ratio compared to other loan programs and it’s easier to qualify for. 

Our Certified Mortgage Planner Specialists will guide you through each stage of the process and provide you with expert advice along the way. We are committed to making the home refinance process clear, informative, and simple. At Guardian Mortgage, we understand that buying a home will be one of the biggest purchases of your life. That’s why we are committed to providing you with the information you need to make well informed decisions.

When you are ready, simply Apply Online, Request Personalized Rate Quote or call us at 703-349-1084 to speak with live person.