With the mortgage crisis of recent years, lending standards have tightened dramatically. First time home buyer loans are more difficult to obtain than they were just a few short years ago.
Fortunately, there is help available for the buyers seeking their first ever mortgage.
Many states offer outright cash grants for the down payment and closing costs to help people get a mortgage, provided they meet certain income qualifications. We’ve organized all this state grant information in an easy to use format. Check out First Time Home Buyer Grants for all the details.
Best Lender For First Time Home Buyer Loans
Unfortunately, some lenders do not like to work with first time home buyers (due to not having a track record), and prefer instead to only provide mortgages to people who have previously owned a home. If you do not need help with the down payment and are not in need of any state program, but simply want to apply for a mortgage, you are in much better financial shape than most buyers.
If you are not yet ready to apply and are in need of some assistance, many states have additional help in the form of low or reduced interest rate loans for the buyers as well as outright cash grants. These loans and grants make it possible for 1st time home owners to afford a mortgage when they would not be able to do so the conventional way. In most cases, the savings in interest costs is in the tens of thousands of dollars. Listed below is a complete state by state list for more information.
State Directory of First Time Home Buyer Loan Programs
Alabama: The state of Alabama offers several loans through the Alabama Housing Finance Authority. For information on what is available, please visit the Alabama web page here.
Alaska: The state of Alaska offers several loans through the Alaska Housing Finance Corporation. For information on what is available, please visit the page for Alaska programs.
Arizona: The state of Arizona offers several loans through the Arizona Department of Housing. For information on what is available, please go to the page for Arizona Loans.
Arkansas: The state of Arkansas offers several loans through the Arkansas Development Finance Authority. For information on what is available, please visit this web page.
California: The state of California offers one loan program through the California Housing Finance Agency. For information on the program details, please go to California Loans.
Colorado: The state of Colorado offers only one loan program through the Colorado Housing Assistance Corporation. For information on its details, please go to Colorado Home Buyer Loan.
Connecticut: The state of Connecticut offers one loan program through the Connecticut Department of Economic and Community Development. For information on the program details, please visit the page that provides specific details.
Delaware: The state of Delaware offers a single loan program through the Delaware State Housing Authority. For information on the program details, please visit Delaware Loan.
Florida: The state of Florida offers several loans through the Florida Department of Community Affairs. For information on these loans, please check out this page.
Georgia: The state of Georgia offers several loans through the Georgia Department of Community Affairs. For details on these loans, please go to this webpage.
Hawaii: The state of Hawaii offers one loan program through the Department of Hawaii Home Lands. For information on the program details, please visit the here.
Idaho: The state of Idaho offers two loans through the Idaho Housing and Finance Association. For details on these loans, please visit the Idaho webpage that explains the details.
Illinois: The state of Illinois offers one loan program through the Illinois Housing Development Authority. For information on the program, please go to this link.
Indiana: The state of Indiana offers several loans through the Indiana Housing and Community Development Authority. For information on these loans, please visit Indiana Loans.
Iowa: The state of Iowa offers many loans through the Iowa Finance Authority. For information on what is available, please visit this webpage.
Kansas: The state of Kansas offers only one home buyer loan program through the Kansas Housing Resources Corporation. For details of the program, please click here.
Kentucky: The state of Kentucky offers several loans through the Kentucky Housing Corporation. For information on these loans, please go to this webpage.
Louisiana: The state of Louisiana offers one home buyer loan program through the Acorn Housing Corporation. For details of the program, please visit here.
Maine: The state of Maine offers two loans through the Maine State Housing Authority. For details on these loans, please visit here.
Maryland: The state of Maryland offers several loans through the Maryland Department of Housing and Community Development. For details on these loans, please go to this page.
Massachusetts: The state of Massachusetts offers a variety of loans through the Massachusetts Department of Housing and Community Development. For information on these loans, please go to here.
Michigan: The state of Michigan offers only one home buyer loan program through the Michigan State Housing Development Authority. For details of the program, please visit here.
Minnesota: The state of Minnesota offers several loans through the Minnesota Housing Finance Agency. For information on these loans, please go to this link.
Mississippi: The state of Mississippi offers a variety of loans through the Mississippi Home Corporation. For information on these loans, please click here.
Missouri: The state of Missouri offers two loans through the Missouri Housing Development Commission. For details on these loans, please visit here.
Montana: The state of Montana offers several loans through the Montana Department of Commerce, Housing Division. For details on these loans, please go to this webpage.
Nebraska: The state of Nebraska offers several loans through the Nebraska Investment Finance Authority. For information on these loans, please visit this page.
Nevada: The state of Nevada offers three loans through the Nevada Housing Division. For details, please go to this link.
New Hampshire: The state of New Hampshire offers several home buyer loans through New Hampshire Housing. For information on these loans, please go to this webpage.
New Jersey: The state of New Jersey offers several loans through New Jersey Housing and Mortgage Finance Agency. For information on these loans, please visit this webpage.
New Mexico: The state of New Mexico offers several home buyer loans through the New Mexico Mortgage Finance Authority. For information on these loans, please visit here.
New York: The state of New York offers a variety of loans through the New York State Housing Finance Agency. For details on these loans, please go to this webpage.
North Carolina: The state of North Carolina offers several loans through the North Carolina Housing Finance Agency. For information on these loans, please visit the North Carolina’s webpage.
North Dakota: The state of North Dakota offers a multitude of loans through the North Dakota Housing Finance Agency. For details on these loans, please go to here.
Ohio: The state of Ohio offers several first time home buyer loans through the Ohio Housing Finance Agency. For information on these loans, please visit this webpage.
Oklahoma: The state of Oklahoma offers a variety of loans through the Oklahoma Housing Finance Agency. For details on these loans, please visit here.
Oregon: The state of Oregon offers several loans through Oregon Housing and Community Service. For information on these loans, please visit this page.
Pennsylvania: The state of Pennsylvania offers several loans through the Pennsylvania Housing Finance Agency. For more details on these loans, please go to here.
Rhode Island: The state of Rhode Island offers two first time home buyer loans. For details on these loans, please visit here.
South Carolina: The state of South Carolina offers a variety of loans through the South Carolina Housing Finance and Development Authority. For information on these loans, please visit this page.
South Dakota: The state of South Dakota offers two loans through the South Dakota Housing Development Authority. For details on these loans, please visit here.
Tennessee: The state of Tennessee offers three loan programs through the Tennessee Housing Development Agency. For details on these loans, please go to the This page.
Texas: The state of Texas offers three home buyer loans through the Texas Department of Housing and Community Affairs. For details on these loans, please visit here.
Utah: The state of Utah offers two first time home buyer loans through the Utah Housing Corporation. For details on these two loans, please go to this webpage.
Vermont: The state of Vermont offers two loans through the Vermont Housing Finance Agency. For details on these two loans, please visit here.
Virginia: The state of Virginia offers a variety of loans through the Virginia Housing Development Authority. For information on these loans, please visit the Virginia First Time Home Buyer Loans webpage.
Washington: The state of Washington offers several loans through the Washington State Housing Finance Commission. For more details on these loans, please go to here.
West Virginia: The state of West Virginia offers several home buyer loans. For more information on these loans, please click here.
Wisconsin: The state of Wisconsin offers several first time loans through the Wisconsin Housing and Economic Development Authority. For more information on the various loans available, please visit this webpage.
Wyoming: The state of Wyoming offers severa loans through the Wyoming Community Development Authority. For more information on these loans, please go to this page.