Home Buying Options For First Time Buyers Apr 2026

: Second mortgages with 0% interest that are "wiped out" if you live in the home for a set period (typically 5–10 years).

: Many grants are reserved for low-to-moderate-income households based on the Area Median Income (AMI).

To qualify for most first-time buyer incentives, you typically need to: home buying options for first time buyers

: $0 down payment for homes in designated rural and suburban areas, subject to income limits. Down Payment Assistance (DPA)

Most first-time buyers choose between these four major loan types: : Second mortgages with 0% interest that are

: A score of 620+ unlocks more conventional options, while FHA is available starting at 580.

: Most government programs require a HUD-approved homebuyer education course. home buying options for first time buyers

: Best for those with solid credit (620+) who want to eventually remove mortgage insurance.