First-Time Homebuyers

Buying your first home is a major milestone—but it doesn’t have to be overwhelming. At HomeBound Lending, we specialize in helping first-time homebuyers across California navigate the process with confidence. From pre-approval to closing day, we’re with you every step of the way, offering personalized mortgage solutions and expert guidance.

Whether you’re just starting your search or ready to make an offer, our team is here to help you find the right financing for your goals and budget.

Why First-Time Buyers Choose HomeBound Lending

• Low Down Payment Options — Qualify for as little as 3% down with select Conventional Loan programs*, or choose government-backed loans like FHA, which offer down payments as low as 3.5%*.

• Down Payment Assistance (DPA) — We help you explore California-based programs that offer grants or deferred-payment loans to reduce upfront costs.

• Flexible Credit Guidelines — Don’t have perfect credit? No problem. We work with lenders who offer options tailored to first-time buyers with limited credit history.

• Expert Guidance — From your first question to closing day, our experienced team provides step-by-step support so you feel empowered throughout your homebuying journey.

Down Payment Options

Many buyers believe a 20% down payment is required—but that’s not always the case. Qualified first-time buyers in California may put down as little as 3% with select Conventional Loan programs.*

If your down payment is below 20%, Private Mortgage Insurance (PMI) will be included in your monthly payment. The good news? PMI can typically be removed once you reach 20% equity in your home.

What You’ll Need to Qualify

To get started as a first-time homebuyer, you’ll generally need:

• Verifiable income and steady employment

• A minimum credit score (usually 580+ for FHA or 620+ for Conventional)

• A manageable debt-to-income (DTI) ratio—typically 43–50%, depending on the loan program

• A down payment (which may be lowered through assistance programs)

Affordable Homeownership Is Within Reach

We know how important affordability is—especially for first-time buyers. That’s why we work closely with you to match your financial profile with the best mortgage options, including FHA loans, Conventional loans, and first-time homebuyer assistance programs across California.

And when you’re ready for the next step—whether it’s refinancing or moving up—we’ll be there for that too.