How To Buy Your First Home

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Our First Time Home Buyer Guide outlines all of the steps that you need to take to buy a house. Our knowledgeable Loan Originators can educate you on the types of loans available, guide you through the loan application process, and make sure that you understand the ins & outs of mortgages. Feel free to give us a call or open up a chat. Congratulations, you’ve taken the first step towards purchasing your new home!

Home Loans For First-Time Home Buyers

20% Down Payment – A Common Misconception
You do not need a large down payment to purchase a home. The following are attractive loans for First-Time Home Buyers because of their low down payment options.

Fannie Mae 3% Down Payment Loan
Housing giant Fannie Mae offers a 3% down payment loan specifically for first-time home buyers. If you’re buying a home with your partner or spouse, only one of you is required to be a first-time home buyer. You may also qualify if you have not owned a home in over 3 years.

FHA Loans
Aimed at low to moderate income borrowers, FHA loans have a low 3.5% minimum down payment requirement as well as flexible credit score guidelines. Learn more.

USDA Loans
If you’re looking for a house in the country, a USDA loan might be right for you. No down payment required and flexible credit score guidelines. Learn more.

VA Loans
Active military and veterans may qualify for a VA loan. No down payment required and flexible credit score guidelines. Learn more.

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Steps to Buying a House

Step 1: Figure out how much you can afford on a house.

Use our Home Affordability Calculator to get your price range.
Check current mortgage rates to get a general idea of what to input for your annual rate.

Step 2: Get a Ready Buyer pre-approval letter.

This will confirm your home price range so you’ll be able to make an offer with confidence.
Just fill out our easy online application.

Step 3: Shop for your new home.

Hiring a real estate agent can help facilitate the negotiation process. If you need a realtor, we’ll find one for you through our AmeriSave Advantage program.

Step 4: Prepare for closing.

After your offer is accepted, our loan originator and processor will guide you the rest of the way. They will arrange the time and place of your close.
Work with our team to determine how much you want to pay/not pay at close, how much you want to pay monthly, and how long you want to pay off your mortgage.
Lock in your low interest rate.
Upload supporting documents to the online portal.

That’s it! Don’t worry, AmeriSave is here to help so feel free to reach out to us at any time.

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AMERISAVE IS CONSISTENTLY RANKED TOP 10 IN CUSTOMER SATISFACTION BY LENDINGTREE.

HOME BUYERS RATE US 4.8 OUT OF 5 STARS ON ZILLOW EARNING US THE 5-STAR LENDER AWARD.

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In a sea of online lenders AmeriSave stands out.

Years Experience

States Licensed

$47+

Billion Funded

200,000

Homes Financed