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Get homebuying right the first time
Buying your first home is a big decision. Mountain America is here to help. Our team of mortgage experts will guide you through the first-time homebuyer loan process, ensuring you have an easy, worry-free experience. Best of all, you won't have to make a big down payment.
First-time homebuyer loan details
- Get loans up to $651,567—loan limits may be higher depending on the county limits.
- Seller can contribute up to 3% toward closing costs.
- There are no prepayment penalties.
First-time homebuyer program benefits
- Get up to 100% loan-to-value financing.*
- Pay as little as $1,000 down.
- Private mortgage insurance is not required.
- Choose from fixed- and adjustable-rate options.
- There are no income limitations.
- Speed up closing with our Quick Close℠ electronic mortgage process.
Estimate Your Mortgage Payments*
Today's interest rates
100% First-time Homebuyer
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30-Year Fixed Mortgage (New Purchase)
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40/15 First-time Homebuyer
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30-Year FHA
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FAQs for first-time homebuyers
Who is considered a first-time homebuyer?
How do you qualify for a first-time homebuyer loan?
How do you apply for a first-time homebuyer loan?
To apply for a first-time homebuyer loan, you will want to first get preapproved by a lender. The lender will check your credit history and then will need to verify your income and assets. You’ll need to provide the following for financial verification:
- Recent pay stubs
- Most recent W-2 form
- Last two years of tax returns
- Bank statement
- Proof of down payment
Additional items may be required depending on an individual’s unique situation.
Is a first-time homebuyer loan worth it?
How much can first-time homebuyers afford?
Which loan is best for first-time homebuyers?
Mountain America's first-time homebuyer program is an excellent choice for the reasons listed above. FHA loans are another great option as they offer a low down payment and are often more flexible with credit requirements.
Begin your journey to homeownership
Get started today by applying online or calling 1-800-277-7703. If you still have questions, schedule an appointment with one of our mortgage specialists.
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Meet with a Loan Officer
Our mortgage experts will answer your questions, help assess your financial situation and recommend the best mortgage program for your situation.
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