There are many first time homebuyer programs available in Las Vegas to help you purchase your first home. The dream of homeownership can be a reality. You can secure a stable mortgage payment, even in today’s market. Our loan officers look forward to helping you find the right funding, so you can buy a house you’ll be proud to call home.
Mortgages For First Time Homebuyers
Great Credit & Savings? Consider Conventional Mortgages.
Conventional loans are not insured by a government agency, so they have stricter qualification requirements than government-backed mortgages. They don’t have any income limits, nor do they require military service – they are generally available to anyone whose credit score and down payment size meet the requirements.
FHA Loans For First Time Buyers
These types of home financing options are insured by the Federal Housing Administration. They typically involve smaller down payments, which makes them especially attractive to first-time buyers in Las Vegas.
If you have a lower credit score, FHA mortgages may be easier to obtain than the conventional kind since they are seen as less risky by lenders.
You May Qualify For USDA Mortgages
Although these financing options are generally for people planning to buy a rural property, some suburban homes in designated areas also qualify. USDA home loans are great for low-income families because they don’t require a down payment.
If your household income is less than 115% of the local median income, you may be eligible for a USDA mortgage.
Buy A House With A VA Loan
Whether you’re on active duty, a veteran, a member of the National Guard or Reserves, or the surviving spouse of someone who honorably served, we can offer mortgage plans just for you as a way of saying thank you for your honorable service.
A VA home loan is insured by the Department of Veterans Affairs and generally has lower interest rates, fewer qualification requirements, and does not require a down payment.
You may be eligible if you’ve served:
- 90 Consecutive Days In A War
- 181 Days Active Duty During Peacetime
- 6 Years In The Reserves Or National Guard
Public Service Home Buying Grants
If you are a teacher, police officer, firefighter, or another public sector employee, you may be eligible for certain Nevada Housing Division grants that can help you qualify for a mortgage by covering part of your down payment or closing costs.
These grants generally require you to enroll in a home buyer course, have an income below $105,000, have a good credit score, and only apply for government-insured loans.
Save With Good Service
At Blackmon Home Loans, we recognize the hard work and dedication of those who serve the Las Vegas community. In fact, our founder, John Blackmon, has served on over 40 nonprofit boards himself. Our online application includes a section where you can include grant money that you’ve obtained from government agencies, community nonprofits, and similar organizations.
Apply For A First Time Home Buyer Program
Blackmon Home Loans is committed to helping first-time home buyers find a mortgage loan that works for them. Contact our Las Vegas office today to speak with a loan officer, schedule a consultation, and find out more about our application process.