Federal First Time Home Buyer Programs

Learn more about what programs, grants, and federal government assistance opportunities are available to first time home buyers just like YOU!

Buying a home for the first time can be both challenging and intimidating. Not only is it one of the biggest decisions you'll make to this point in your life but there’s also all kinds of paperwork, fees, and terminology you’ll have to learn along the way as well.

Luckily for first time home buyers, though, the federal government offers a wide-range of funds and grants that can make the first time home buying process easier AND more affordable. But before you get started, it’s important for every potential first time home buyer to investigate what programs and opportunities best fit your individual needs. Also, because lending and grant programs are constantly beginning, changing, and ending, it’s important to note that not everything can be listed here. We have listed several of the more common federal first time home buyer programs, however,  and please feel free to contact us for the most up-to-date list on what’s currently being offered.

Buying your first home can be overwhelming. Let us help!  We are committed to finding you any grant monies or assistance programs available to you.  Our buyer agent services are FREE!  Please contact us for more information.  We have assisted hundreds of first time home buyers and look forward to the opportunity to assist you!

Summarizing Federal First Time Home Buyer Programs

FHA 203K - The FHA 203K program is very similar to an ordinary FHA loan, expect it also considers rehab and repair costs. To qualify, homes must be at least one year old, need at least $5,000 in updates and/or repairs to qualify for rehab insurance, and also must fall within FHA mortgage limits in Minnesota. Learn more about FHA 203K loans>>>

USDA Rural Development Program - This program is for buyers searching in rural areas, which doesn’t always mean you’ll have to live on a farm. Income limitations usually apply, and options on where you can buy are much broader than you may think. Learn more about USDA loans>>>

VA Loans - VA loans require zero down and often times no mortgage insurance, which can save borrowers big time. If you’re a service member, veteran, or surviving spouse, a VA loan should definitely be something you look into. Learn more about VA loans>>>

FHA Loans - FHA is perhaps the most common form of financing for first time home buyers in the U.S. The Federal Housing Administration guarantees a portion of each loan, allowing lenders to widen lending standards. In addition, borrowers can also qualify for a loan with just 3.5 percent down. Learn more about FHA loans>>>