First Time Home Buyer Loans
Featured First Time Home Buyer Loans
No Down Payment Options |
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USDA Loans
Most geographic areas are eligible |
Low monthly mortgage insurance |
Multiple closing cost options |
Low, fixed interest rates |
Reasonable qualification criteria |
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In-House Loans
Most West Tennessee areas are eligible |
Common sense, local underwriting |
Quicker loan closing timeline |
Local long-term loan servicing |
May avoid mortgage insurance |
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Low Down Payment Options |
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FHA Loans
Only 3.5% down payment |
Low, fixed interest rates |
More flexible qualification criteria |
Gifts funds allowed toward loan costs |
Up to 6% seller concessions |
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Conventional Loans
Down payment options start at 3% or 5% |
Lender paid mortgage insurance options |
Gift funds allowed toward loan costs |
$647,200 conforming loan limit |
Quicker loan closing timeline |
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Down Payment Assistance |
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THDA Great Choice Plus Loans
$6,000 Deferred Option (No Payment) |
6% of Home Sale Price Amortized Option (Payment) |
Not Just for First-Time Homebuyers |
Household Income and Purchase Price Limits Vary by County |
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