Who Counts as a "First-Time Homebuyer"?
Under federal HUD and Fannie Mae guidelines, anyone who has not owned a primary residence in the past 3 years qualifies as a first-time homebuyer—even if you owned a home earlier in life!
As Little as 3% Down ⏱ 2 Minutes
Compare First-Time Homebuyer Mortgages & Low Down Payment Programs
You do NOT need 20% down to buy a home. Compare 3% down conventional loans, reduced PMI programs, and closing cost grants.
Why Comparison Shopping Saves Money & Time:
Not all lenders participate in state housing grants or offer reduced-PMI HomeReady/Home Possible programs. Comparing matches you with certified first-time buyer lenders.
- ✓ Conventional 97, HomeReady & Home Possible loans with just 3% down
- ✓ Reduced Private Mortgage Insurance (PMI) rates that cancel automatically at 20% equity
- ✓ Access to lender closing-cost credits and local down payment assistance
$32,400+ Lifetime Interest Saved
0% to 3% Min Down Payment
Soft Pull to Compare Credit Check
100% Free Comparison • Takes 60 Seconds • No Obligation
Compare Free Home Mortgages Quotes
Enter your details once below—we'll match your lowest First-Time Homebuyer Loans options in 60 seconds.
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Side-by-Side Comparison: Single Provider vs. ClickQuoteSave.com
See why thousands of consumers and business owners compare first-time homebuyer loans & 3% down mortgage quotes before signing:
| Comparison Factor | Single Retail Provider | ClickQuoteSave Comparison |
|---|---|---|
| Minimum Down Payment Required | 10%–20% Traditional Bank | ✓ 0% (VA/USDA) to 3% (Conventional/FHA) |
How to Compare Home Purchase Mortgages Quotes in 3 Easy Steps
1. Select Home Purchase Mortgages in Our Form
Enter your contact info and target property area in 60 seconds.
2. Receive Competing Loan Estimates
Compare interest rates, APRs, and closing costs side-by-side.
3. Lock Your Rate & Get Your Pre-Approval Letter
Shop for your dream home knowing you locked in the lowest monthly payment.
Specialized Home Purchase Mortgages Comparison Guides
Explore our long-tail comparison guides for home purchase mortgages:
$285/mo Savings
Compare 30-Year vs. 15-Year Fixed Mortgage Rates
Retail banks build heavy branch overhead into their 30-year fixed rates, while wholesale lenders and online direct lenders pass 0.25%–0.625% lower rates directly to consumers.
Read Guide & Compare Quotes → $6,500 at Closing SavingsFirst-Time Homebuyer Loans & 3% Down Mortgage Quotes
Not all lenders participate in state housing grants or offer reduced-PMI HomeReady/Home Possible programs. Comparing matches you with certified first-time buyer lenders.
Read Guide & Compare Quotes →Frequently Asked Questions About First-Time Homebuyer Loans & 3% Down Mortgage Quotes
Can gift funds from family be used for the 3% down payment?
Yes! Both 3% down Conventional and 3.5% down FHA programs allow 100% of your down payment and closing costs to come from an eligible family gift.