Low Rates with our First Time Home Buyer Programs

Buying your first home can be overwhelming, but the benefits of being a first time home buyer and finally achieving the dream of homeownership make up for it. You will be able to create a home that meets your needs and style, establish credit, receive tax benefits and best of all, you can stop throwing money away on rent. New American Funding has home loan experts specializing in first time homebuyer programs that can help you through the process of buying your first home.  

Getting a Credit Approval
We want to help you achieve the dream of owning a first home. That’s why we offer free up-front credit approvals for first time homebuyers. Getting credit approval for you home purchase loan will give you:

• Understanding of how much house you can buy: Don’t waste time looking at properties you can’t afford. Getting a credit approval will narrow the focus for you and your real estate agent, so you can find the right home for you and your family faster.
• Negotiating power with the seller: A seller isn’t likely to accept an offer from a buyer who has no financing. With a credit pre-approval from New American Funding, you’ll have a major advantage over other buyers.

Our licensed mortgage lender specialists will work with you to find out how much you qualify to borrow based on your income, assets and liabilities. Unlike other lenders’ “pre-qualifications” or “pre-approvals,” New American Funding will make sure your credit score, income, assets and employment have all been verified and your home loan amount has been approved so you’re getting in your new home faster.

Getting approved up front means you’ll be a virtual cash buyer, which gives you the flexibility to shop as if the money were in your pocket. Call New American Funding to get your free up-front credit approval today!

Keeping rates low for homebuyers
As a first time home buyer, you may be worried about keeping your mortgage payments low, especially for the first few years. Our mortgage specialists will help you choose the right loan, 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:

• Fixed rate mortgages: The mortgage interest rate will remain the same on these mortgages throughout the term of the mortgage for the original borrower. Our popular 30 Year fixed rate mortgage is best for first time homebuyers. Use our Fixed Rate Mortgage Calculator to give you an idea of what your loan may look like.
• Adjustable rate mortgages: A mortgage in which the interest rate is adjusted periodically based on a pre-selected index. The advantage of an ARM is that you may be able to afford a more expensive house because your initial interest rate and payments will be lower in the first few years.
• FHA mortgages: A low interest loan insured by the Federal Housing Administration that is open to all qualified home purchasers. While there are limits to the size of FHA loans, they are generous enough to handle moderately priced homes almost anywhere in the country.
• VA loan programs: A long term, low or no down payment loan guaranteed by the Department of Veterans Affairs. Restricted to individuals qualified by military service or other entitlements.

For a quick look at your loan options, try our mortgage affordability calculator. It can help you determine how much money you can afford to spend on a mortgage each month based on your income and current expenses. We make the borrowing process simple and convenient for first time home buyers by offering you competitive rates and minimizing fees normally incurred with a loan arranged through a broker.

Buy a home with little to no down payment
For first time home buyers who have less than perfect credit or those who want to buy a home with a small down payment, our experienced professionals can help you determine possible financing options. Many first time homebuyers can qualify for an FHA or VA loan program that requires little to no down payment. New American Funding also offers programs for consumers who have difficulty with credit. If you have a history of bankruptcy, late payments or other credit problems, our mortgage specialists may still be able to provide you with a loan.

We also have a dedicated resource section full of tips for first time home buying. For more information about which first time home buyer loan program is best for your purchase, contact New American Funding today.