Make Homeownership a Reality
Special programs with as little as 3% down. Expert guidance from pre-approval to closing. Serving first-time buyers in Atlanta and beyond.
First-Time Buyer Loan Programs
Find the right loan program for your situation
Conventional 97
- As little as 3% down payment
- Lower mortgage insurance than FHA
- No upfront mortgage insurance
- MI drops off at 20% equity
Buyers with good credit (680+) and limited savings for down payment
FHA Loans
- Lower credit score requirements
- Higher debt-to-income ratios allowed
- Gift funds accepted for down payment
- Assumable by future buyers
Buyers with lower credit scores or higher debt-to-income ratios
VA Loans
- Zero down payment required
- No private mortgage insurance
- Lower interest rates
- Limited closing costs
Eligible veterans, active military, and qualified spouses
USDA Loans
- Zero down payment in eligible areas
- Low mortgage insurance
- Below-market interest rates
- Flexible credit guidelines
Buyers in eligible rural and suburban areas outside metro Atlanta
Not sure which program is right for you? We'll review all options and recommend the best fit.
Get Pre-Approved & Compare ProgramsYour First-Time Buyer Journey
What to expect from pre-approval to getting your keys
Get Pre-Approved
1-2 daysUnderstand your budget and get a pre-approval letter to strengthen your offers. Takes 24-48 hours with our streamlined process.
Find Your Agent & Start House Hunting
2-8 weeksWork with a buyer's agent to search for homes in your price range and preferred neighborhoods. We can connect you with experienced buyer agents.
Make an Offer
1-3 daysYour agent helps you craft a competitive offer. Your pre-approval letter shows sellers you're a serious, qualified buyer.
Home Inspection & Appraisal
1-2 weeksHire an inspector to evaluate the property condition. Your lender orders an appraisal to confirm the home's value.
Final Underwriting & Clear to Close
2-3 weeksUnderwriter reviews all documentation and issues final approval. You receive your Clear to Close 2-3 days before closing.
Closing Day
1-2 hoursSign documents, pay closing costs and down payment, get your keys, and become a homeowner!
Most first-time buyers go from pre-approval to closing in 45-75 days. The timeline depends on how quickly you find a house, how competitive the market is, and how fast you can gather documentation.
Atlanta First-Time Buyer Programs
Additional assistance for buying in Metro Atlanta
Georgia Dream Homeownership Program
First-time buyers meeting income limits. 3-year occupancy requirement.
Learn More at dca.ga.gov →City of Atlanta Homebuyer Program
Income limits vary by household size. Must buy within Atlanta city limits.
Learn More at atlantaga.gov →Invest Atlanta
First-time buyers in targeted Atlanta neighborhoods.
Learn More at investatlanta.com →How We Can Help:
We're familiar with all Atlanta-area down payment assistance programs and can help you determine eligibility and combine them with the right loan program. Many first-time buyers can purchase with 0-3% out of pocket when combining these programs strategically.
Avoid These First-Time Buyer Mistakes
Learn from others' experiences and protect yourself
Not Getting Pre-Approved First
Missing out on homes because sellers prefer pre-approved buyers, or making offers above your actual budget.
Get pre-approved before house hunting. It takes 24-48 hours and shows sellers you're serious.
Maxing Out Your Budget
House-poor situation where mortgage payments leave no room for repairs, furniture, or savings.
Budget for homeownership costs beyond the mortgage: utilities, maintenance, repairs, insurance, and HOA fees.
Skipping the Home Inspection
Discovering expensive problems (roof, foundation, HVAC) after closing with no recourse.
Always get a professional inspection ($400-600). It can save you tens of thousands in surprise repairs.
Making Large Purchases Before Closing
New debt (car, furniture, credit cards) can change your debt-to-income ratio and kill your loan approval.
Wait until after closing to make major purchases. Lenders re-verify credit and employment before funding.
Not Shopping for Interest Rates
Paying thousands more over the life of the loan due to a rate that's 0.25-0.50% higher than available.
Compare rates from 2-3 lenders. Rate shopping within 14 days only counts as one credit inquiry.
Draining All Savings for Down Payment
No emergency fund for repairs, job loss, or unexpected expenses after moving in.
Keep 3-6 months of expenses in reserves. Consider a lower down payment program (3-3.5%) to preserve cash.
First-Time Buyer FAQs
How much do I need for a down payment?
It depends on the loan program. Conventional loans require as little as 3%, FHA loans 3.5%, VA and USDA loans 0%. For a $300,000 home, you'd need $9,000-$10,500 down (conventional/FHA), plus 2-5% for closing costs. However, many first-time buyer programs offer down payment assistance to reduce out-of-pocket costs.
What credit score do I need as a first-time buyer?
FHA loans accept scores as low as 580 (500-579 with 10% down). Conventional loans typically require 620+, though some lenders go down to 600. VA loans are flexible, often accepting 580+. The higher your score, the better your interest rate. If your score is below 620, consider working on credit improvement before applying.
Can I use gift money for my down payment?
Yes! All first-time buyer programs allow gift funds from family members. You'll need a gift letter stating the funds are a gift (not a loan), documentation showing the transfer, and proof the donor had the funds. Some programs allow 100% of down payment and closing costs to be gifted.
Do I have to be a first-time buyer to use these programs?
Not always! The IRS definition of "first-time buyer" is anyone who hasn't owned a home in the past 3 years. So if you sold a home 3+ years ago, you qualify. Some programs (like Conventional 97 and FHA) are available to all buyers, regardless of previous ownership.
What's the difference between pre-qualification and pre-approval?
Pre-qualification is an estimate based on self-reported information (5-10 minutes). Pre-approval involves a full credit check, income verification, and lender review (24-48 hours). Pre-approval carries much more weight with sellers and shows you're a serious, qualified buyer. Always get pre-approved before house hunting.
How much house can I afford?
A general rule: your monthly housing payment (PITI) should be no more than 28% of gross monthly income, and total debt payments no more than 43%. However, FHA and some conventional loans allow up to 50% DTI. Use our mortgage calculator to estimate payments, and remember to budget for utilities, maintenance, and repairs beyond your mortgage payment.
Ready to Become a Homeowner?
Get pre-approved today and take the first step toward owning your own home. Our first-time buyer specialists will guide you through every step.
Licensed in Georgia, Florida, Texas, and California • NMLS #2043109