Thinking about buying your first home?

You have a good job and have a solid track record paying your rent. You want to buy your first home, but you’re worried that student loan debt, the tiny balance of your bank account and the fact that you don’t have a high-paying job will hold you back.

The good news is that there are a variety of loan options today that can help make your dream of homeownership come true! VA loans are a terrific no-down payment option for veterans and military personnel. Low-down payment loans are available through the Federal Housing Administration (FHA) and other federal programs. You also may be eligible for state- and city-level programs designed to help low- to moderate-income families and individuals achieve homeownership.

It’s a common misperception among first-time home buyers that you need a large down payment, high income and/or a high credit score to buy a home. While those things certainly can increase the odds you quality for a home loan, they aren’t always necessary. That’s why if you’ve been thinking of purchasing a home, it’s a great idea to meet with a reputable mortgage lender. A lender will examine your income, your credit score, your monthly debt obligations and other financial information to determine whether you qualify for a home loan. What are you waiting for? Find out if you qualify to purchase a home of your own. In many areas, a monthly mortgage payment is less than rent!