Buying a first home is an exciting step. But for too many people, a first home seems like an unreachable dream. That's why we offer options that make getting started as a homeowner a little easier.

Low Down Payments and Closing Costs are Possible

The biggest challenge for most people is saving the money for the down payment and closing costs. While a larger down payment may make more options available to you, with many of today's loan programs, or with federally-sponsored loan programs from FHA and VA, you may be able to buy a home with minimal or no down payment at all.

In addition, some programs will reduce the closing costs or allow the seller or another person to contribute to the closing costs for you. Other programs allow all or a portion of the closing costs to be added to the loan amount, so you'll have less out-of-pocket expense.

Easier Approvals than Before

Another challenge for first-time buyers is the loan qualification based on current income and debts. Lenders evaluate the percentage of your income that will be used for your housing payment and other debts to make sure that you can handle the payments.

Today, however, lenders have learned that most homeowners are willing and able to put more into their homes than the traditional qualification standards allow. Several programs allow you to qualify with a larger debt-to-income ratio compared to traditional loan programs.

Start Out Assuming You Can Buy a Home

 Nate Ellis can show you which programs may fit the budget you have available. Contact Nate today to discuss your options.