First-Time Homebuyers

At Planet Home Lending, we love helping first-time homebuyers. From tips for getting started to discussing down payment assistance programs, we’re here to help you get the best rates and recommendations.

Why? Because at Planet, we believe in the power of home.

If this is your first time buying a home, get in touch with us to see about all the options available to you:

• Down payment assistance
• Freddie Mac Home Possible® 
• Fannie Mae HomeReady® 
• FHA, VA, or USDA loans
• Conventional mortgage loans

Call us at 888-966-9044 or get a free quote today. We’re ready to answer your questions and get you home.

Fast Facts for First-Time Homebuyers

• Planet participates in down payment and closing cost assistance programs nationwide
• For many mortgage programs, a first-time homebuyer is anyone who hasn’t owned a home in the previous three years
• Some home sellers prefer first-time homebuyers who don’t have another home before closing

Ready to talk? Give us a call at 888-966-9044 or get a free quote today.

First-Time Homebuyer Loans and Options

Freddie Mac Home Possible®

If you want to buy a home without a big down payment, the Freddie Mac Home Possible® home loan might be right for you. It’s an affordable solution for qualified borrowers. Learn more here

Fannie Mae HomeReady®

Want another option to buy a home now instead of waiting to save a big down payment? The Fannie Mae HomeReady® mortgage might be a good choice for you. Learn more 

FHA Mortgage Loans

A few dings on your credit don’t have to lock you out of homeownership. FHA loans are a great choice for first-time homebuyers. Learn more here

VA Mortgage Loans

Planet proudly offers no down payment VA home loans to qualified veterans, members of the Armed Forces on active duty, and military spouses. Learn more here

USDA Mortgage Loans

If you want to buy in a suburban or rural area with no money down, a USDA home loan might be the right mortgage loan for you. Learn more

Additional resources? No problem!

Down Payment Assistance

You may be able to buy a home now instead of waiting to save a big down payment with help from a home down payment assistance (DPA) program. Planet Home Lending can connect you with down payment and closing cost assistance programs where you want to buy a home.

First-Time Homebuyer Classes

Some first-time homebuyer products require buyers to take a class. These classes are free, and some are even available online. The best way to find out the options in your area is to speak to one of Planet’s mortgage professionals. Call us at 888-966-9044.

First-Time Homebuyer FAQ

What is the definition of a first-time homebuyer?

For the purposes of down payment assistance mortgage programs, a first-time buyer is typically someone who hasn’t owned a home in the past three years.

Will I need to use all the money in my savings account toward the down payment before I can qualify for down payment assistance?

Not at all. Using a DPA program lets you hold onto savings you may need for other expenses, like moving costs.

What are the interest rates for first-time homebuyers right now?

First-time homebuyer interest rates change quickly — sometimes every hour. Planet works hard to bring you the lowest possible rates. Call us at 888-966-9044 or ask us for a quote to see just how hard we work to get you a great rate.