First Time Home Buyer Loans, First Time Homeowner Mortgage Loan, 100% financing, Teacher Home Loans Program, USDA, VA, FHA.
First Time Home Buyer Mortgage Program
Owning a home is perhaps the ultimate American Dream. Home ownership is a goal that most people strive to achieve in their lifetime. For most of us, owning a home is the single largest investment we will make in our lives. We understand that First Time Home Buyers deserve special attention.
At Five Stars we ensure that as a First Time Home Owner, you will understand the entire mortgage process so there are no surprises for you and you can focus on more important things such as scheduling moving and setting up your new billing address!
There are many valuable hints and helpful articles in our BUYERS TOOLKIT section of the site. We strongly suggest all first-time home buyers spend a few minutes looking at the articles and taking in the information prior to talking to a mortgage professional. Here are some of the important points of home buying you should be aware of:
Get Pre-Approved not just Pre-Qualified
You want to make sure that you know exactly how much you can afford, and that the lender has already seen your income and verified that you can in fact afford the home that you want to buy. It’s very easy to call some random companies and get arbitrary loan quotes.
Remember that no mortgage company can give you an accurate quote without first knowing as much as possible about your situation. Be wary of any company that would try to give you a letter saying you are pre-qualified or pre-approved before they have even seen your credit or verified how much income you are making. This is the first step in the home-buying process and is very important for first-time home buyers to remember.
Find a Home
You can do this by either looking for a For Sale By Owner or by contacting an experienced Real Estate Agent in your area. Many people more familiar with the process of buying a home may prefer to not have to include a real estate agent in their process. However, for many first-time home buyers, a real estate agent can save a lot of time and hassle.
They find the home for you, write the purchase offer for you, submit it to the seller or listing Realtor, and assist the mortgage team during the loan process as needed. Without a realtor, the first-time buyer must do all of this on their own. Feel free to contact us today for a Realtor recommendation, we would be happy to make the connection for you.
The Mortgage Process
Many first time home buyers experience stress and worry about their loans. This is normal. Asking any and all questions to your loan officer can help alleviate much of this tension. Your mortgage professional will collect all the needed documentation from you upfront and inform you of the details of your loan. It is normal for the lender to request additional documentation as the loan proceeds, this is not cause for worry.
In today’s market lenders often require letters of explanation to help them get your loan funded. If you are unsure of exactly what you should address in these letters in the event you are asked to provide one, speak with your loan officer so that it is clear.
Once your loan is approved the loan officer will schedule the closing with the title company at a time convenient for you and the seller. Be prepared with a photo ID and a copy of your social security card on the day of closing. These are commonly asked for by the title agent handling your loan closing.
Be sure to click the link below to learn more about the 2026 First Time Homebuyer programs details.
Questions about the application or qualifying process? Please submit the Request Contact form at the top of your screen so we ensure the right specialist contacts you. Only takes a minute and no personal info is ever required. We typically respond to all submitted requests in minutes. You can also call Ph: 888-705-1975
First-time homeowners will also want to review the most commonly asked questions here.