Tips for First-Time Homebuyers
Ready to take the leap and purchase your first home? Or just want to brush up on the types of loans that may be available to you. Check out the quick info below to get you started.
FHA Loans
These loan programs are insured by the Federal Housing Administration (FHA) and issued by qualified lenders, such as Fairway Independent Mortgage. We offer all of the current FHA loans
State Bond Programs
Fairway IndependentMortgage can connect you with grants and settlement loan expense programs that can be combined to create virtually no-cost loans for first-time homebuyers with little or no housing payment history.
VA (Veterans Affairs) Loans
These loans offer 100% financing without private mortgage insurance to American military veterans or to their surviving spouses. As a VA “Automatic Lender,” Fairway Independent Mortgage has the privilege of helping serve eligible veterans with in-house processing, underwriting and closing of all VA loans as a first or second mortgage, or as a refinance package. Click here for more information about VA loans.
Rural Housing (USDA)
100% financing is available for homes in rural areas. In order to be eligible, household income must meet certain guidelines. Also, the home must be located in an eligible rural area as defined by USDA. Reach out to Fairway Independent Mortgage to learn more about the areas that qualify for Rural Housing.
Buying your first home is an exciting time — but we understand that it can be overwhelming. Fairway Independent Mortgage is here to make your experience enjoyable and as stress-free as possible. Reach out today, and we’ll do all we can to find the best loan for your perfect new home.
