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First Time Homebuyer Loans

Programs designed to make homeownership more accessible, with guidance every step of the way.
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What Is a First-Time Homebuyer Loan?

Buying your first home comes with a lot of unknowns — and a lot of options. First-time homebuyer loans aren't a single specific loan type, but rather a combination of programs and assistance designed to make that first purchase more achievable, including lower down payment requirements, more flexible credit guidelines, and access to down payment assistance programs.
At Carolina Mortgage Group, we specialize in helping first-time buyers feel confident, not overwhelmed. We'll explain every term, every document, and every step in plain language, so you always know exactly what's happening and why.
First Time Homebuyer
First Time Homebuyer Program

Why Choose a First-Time Homebuyer Program?

  • Down payments as low as 0-3.5% depending on the loan program
  • Access to down payment and closing cost assistance programs
  • More flexible credit and income guidelines than many standard loans
  • Educational support to help you understand the full homebuying process
  • Options across multiple loan types — Conventional, FHA, VA, and USDA — based on what fits you best
  • Guidance on local and state-specific assistance programs available in North and South Carolina

Are You Considered a First-Time Homebuyer?

You may qualify as a first-time homebuyer if you:
    • Have never owned a home before, or
    • Haven't owned a home in the past three years, or
    • Are a single parent who has only previously owned a home with a former spouse, or
    • Are a displaced homemaker who has only owned with a spouse
Many buyers are surprised to learn they qualify as "first-time" even if they've owned property before. We'll review your specific situation and let you know which programs you may be eligible for.
Are yu a first tiem homebuyer

How It Works

We make the mortgage process simple, clear, and stress‑free. Whether you’re buying your first home or refinancing, our streamlined approach ensures you always know what to expect and what comes next.

Tell Us Your Goals

We learn about your budget, timeline, and what matters most to you in your first home.

Explore Your Options

We review which loan programs and assistance options you qualify for, and explain the pros and cons of each.

Get Pre-Approved

Once we've found the right fit, we'll get you pre-approved so you can shop with confidence.

Close With Confidence

We guide you through every step to closing, answering questions along the way so nothing feels confusing or rushed.

Looking at Other Options?

First-time buyer assistance can be paired with several loan types. Explore our other programs below to see which foundation might work best for your purchase.

Conventional Loans

Our conventional loan options offer competitive rates, flexible terms, and straightforward qualification guidelines for well‑qualified buyers. We help you understand your down payment options, credit requirements, and long‑term benefits so you can choose a loan that fits your financial goals with confidence.

FHA Loans

FHA loans provide a more accessible path to homeownership with lower down payment requirements and flexible credit guidelines. We guide you through the FHA process, explain your options clearly, and help you secure a loan that supports your budget while building long‑term stability.

VA Loans

VA loans offer exceptional benefits for eligible veterans, active‑duty service members, and military families — including no down payment and competitive rates. We help you navigate eligibility, understand the VA funding fee, and take full advantage of the benefits you’ve earned.

USDA Loans

USDA loans provide zero‑down financing for qualifying rural and suburban areas across the Carolinas. We help you determine eligibility, understand income limits, and secure affordable financing designed to support homebuyers in growing communities.

Refinance Loans

Refinancing can help you lower your interest rate, reduce your monthly payment, or tap into home equity. We evaluate your current loan, compare your options, and create a refinancing strategy that aligns with your financial goals and long‑term plans.

First‑Time Homebuyer Loans

First‑time buyers benefit from programs designed to make homeownership more accessible. We help you explore down payment assistance, flexible loan options, and credit‑friendly programs so you can purchase your first home with clarity and confidence.

Explore more resources

Get a deeper look at down payment assistance programs, credit tips, and what to expect as a first-time buyer. Browse our latest articles below to learn more about starting your homeownership journey with confidence.

Got Questions About Buying Your First Home?

Here are answers to some of the most common questions first-time buyers ask about the homebuying process.
Frequently Asked Questions

It depends on the loan program. FHA loans require as little as 3.5% down, conventional loans allow as low as 3% for first-time buyers, and VA or USDA loans may require no down payment at all for eligible buyers. We'll help you find the program that fits your savings.

Yes. There are several state and local down payment assistance programs available to qualifying buyers in North and South Carolina, which can help cover some or all of your down payment and closing costs. We'll help you identify which programs you may qualify for.

It depends on the loan program. FHA loans may accept scores as low as 580, while conventional loans typically look for 620 or higher. We'll review your credit profile and let you know which programs are realistic for your situation.

Closing costs typically range from 2-5% of the purchase price and cover things like appraisal fees, title insurance, and lender fees. Some of these costs can potentially be covered through down payment assistance programs or seller contributions, which we'll explore with you.

No. Many first-time buyer programs are specifically designed to be more flexible with credit history, including allowing for past credit challenges as long as your recent payment history shows stability. We'll review your full picture, not just a single number.

From pre-approval to closing, the process typically takes 30 to 45 days once you're under contract on a home. Before that, house hunting timelines vary widely depending on the market and your specific search.

Getting pre-approved. This tells you exactly how much home you can afford, strengthens your offer when you find the right property, and gives you a clear roadmap for the rest of the process. We always recommend starting here before you begin house hunting.

Absolutely. Many of our first-time buyers reach out months before they're ready to purchase. We're happy to talk through your timeline, help you understand what to work on, and be a resource as you prepare — with zero pressure to move faster than you're ready for.

Ready to Take the First Step Toward Your First Home?

Talk to a local loan expert who will guide you through every step with patience, honesty, and zero pressure.
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(864) 205-5210

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Phone: 864‑205-5210

Address: Greenville, SC

Office Hours
Monday–Friday: 9:00 AM – 5:00 PM

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(864) 205-5210
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Carolina Mortgage Group provides fast, local mortgage guidance backed by clear communication and competitive loan options. Whether you're buying your first home or refinancing, our team makes the process simple, transparent, and stress‑free — giving you confidence from pre‑approval to closing.
(864) 205-5210
GET PRE-APPROVED

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