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First-Time Hombuyers

First-Time Hombuyers Articles

Arkansas First-Time Homebuyer Guide

Thinking about buying a home in The Natural State but don’t know where to begin? Read on to learn more about the benefits of buying a home in Arkansas, the programs and loans you can use to purchase your first home, and about how New American Funding can help you fund your dream.

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Minnesota First-Time Homebuyer Guide

How much a first-time homebuyer has to put down on a home depends on the loan type and their unique financial profile. For example, VA loans offer zero down payment, while the down payment on a Conventional loan can be anywhere between 3%-20%.

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Arizona First-Time Homebuyer Guide

The minimum down payment a borrower may put down on a home in Arizona depends on the loan. The down payment can be as low as 0% (USDA and VA loans), 3% (Conventional loans), or 3.5% (FHA loans).

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Louisiana First-Time Homebuyer Guide

The minimum down payment a borrower may put down on a home in Louisiana depends on the loan. The down payment can be as low as 0% (USDA and VA loans), 3% (Conventional loans), or 3.5% (FHA loans).

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Illinois First-Time Homebuyer Guide

Several loans may be available to first-time homebuyers that offer low or no down payments. These include FHA, VA, and USDA loans. Each loan comes with its own set of unique applicable qualifications in addition to the requirements of the lender offering them.

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Ohio First-Time Homebuyer Guide

There are many down payment and closing costs assistance programs available to first-time homebuyers. They can include government programs at both the state and local levels, programs offered by non-profit organizations, as well as lender-offered programs.

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South Dakota First-Time Homebuyer Guide

New American Funding offers an assistance program for first-time homebuyers called The Pathway to Homeownership. Specifically available to first-time homebuyers, eligible borrowers may receive up to $8,000* in financial assistance.

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Alaska First-Time Homebuyer Guide

The credit score needed by a first-time homebuyer in Alaska will depend on the loan type you are applying for as well as your financial situation. For instance, FHA loans may allow a credit score as low as 500 with a high enough down payment. For Conventional loans, a minimum credit score of 620 is generally required.

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