First Time Home Loan Options

One of the major factors in the home buying process is choosing a loan that works for you and your circumstances. That’s where we come in.

At Chartway, we put your needs first. We’ll have you making your new house a home in no time!

First-Time Homebuyer Options

Do you live in VA, NC, UT, or TX? If so, now is the time to take advantage of our First-Time Homebuyer options! Our First-Time Homebuyer loan offers 100% financing with as low as a 3% down-payment needed.

You may be eligible for a First-Time Homebuyer loan if you've never owned a home or if you haven't been an owner in a primary residence for at least three years leading up to your purchase.

See if you qualify for one of Chartway’s First-Time Home Buyer Options.

Start with a Mortgage Loan Officer

Other First Time Home Loan Options

If you don’t meet our First-Time Homebuyer criteria, no need to worry or lose hope on buying your first home. We have other options that may be better suited for you.

Conventional Fixed-Rate Mortgage

The traditional 15-30 year fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans are usually cheaper.

As a rule of thumb, it may be harder to qualify for fixed-rate loans than for adjustable-rate loans. When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan. The shorter the term, typically the lower the fixed interest rate.

FHA-Insured Loans

An FHA-insured loan is a US Federal Housing Administration mortgage insurance backed mortgage loan which is provided by an FHA-approved lender. FHA insured loans are a type of federal assistance and have historically allowed lower-income Americans to borrow money for the purchase of a home that they would not otherwise be able to afford.

VA Loans

The VA loan was designed to offer long-term financing to eligible American veterans or their surviving spouses (provided they do not remarry). The basic intention of the VA direct home loan program is to supply home financing to eligible veterans in areas where private financing is not generally available and to help veterans purchase properties with no down payment.

First Time Home Loans For Every Buyer

There’s a wealth of information out there. We get it. Buying your first home is exciting, but it can also be overwhelming.

With so many loan options to choose from, it’s common to not know which option is best for you. Let one of our qualified mortgage professionals guide you through the process. A loan officer is just a call or email away!

Start with a Mortgage Loan Officer

First Time Home Buyer Guides and Resources

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