First Time Home Buyers

Buying your first home is one of the largest and most nerve-racking decisions you will make. At My Liberty Loans, our goal is to remove the stress from this decision through education. Our home loan advisors in West Palm Beach, FL will help you walk through the entire process, from understanding what impact certain property types have on your financing opportunities to exploring the different types of first-time home buyer programs are available. We pride ourselves on accessibility and are always available to answer questions or provide monthly payment numbers as you progress with your home search and home loan in West Palm Beach, FL. Below are some of our most popular First-Time-Homebuyer Programs:

FHA Loans

Minimum Credit Score: 580
Down Payment Required: 3.50% of the agreed-upon purchase price
Down Payment can be a gift from an immediate family member
Sellers can credit the buyer up to 6% of the purchase price for closing costs and prepaid expenses
Competitive Interest Rates
Income must be verified through Recent Paychecks
Eligible Properties Include: Single Family Homes, Townhomes, and Multi-Family Homes (No Condos)
Down Payment grants are eligible
Co-Borrowers Allowed
No Penalties if Refinanced Or Paid Off Early

Conventional HomeReady Loan

Minimum Credit Score: 620
Down payment Required: 3% of the agreed-upon purchase price
Down Payment Can be a Gift from an immediate family member
Reduced Mortgage Insurance
Eligible Property Types: Single Family Homes, Multi-Family, Manufactured Homes, Approved Condos
Co-Borrowers Allowed
No Penalties if Paid Off Early

All Loans Are Subject to Underwriting approval

Are you a first-time buyer? Connect with us to get the best advice on home loans.

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