best mortgage loan for first time buyer

There are loan programs that cater to first-time home buyers, such as the FHA loan, which allow for down payments as little as 3.5%. Even some conventional loans allow for down payments as low as 3 percent. And certain loans, such as VA loans for veterans and military or USDA loans for buyers in rural areas, don’t require a down payment at.

Here’s how to find the best FHA loan lender for you and your particular. but has branches in only about two dozen states. Ideal for first-time home buyers or those with weaker credit. Citibank.