Welcome back to First Keys: Your Guide to Buying a Home for the First Time!

Welcome back to First Keys: Your Guide to Buying a Home for the First Time!

In this series, we’re breaking down the entire homebuying journey, step by step, to help first-time buyers feel informed, prepared, and confident.

Last post, we covered the main part in buying a new home, Financing & Budgeting! In this post we will breakdown loan programs and incentive options you might qualify for!

Programs & Tools

Think you need a huge down payment or perfect credit to buy your first home? Think again. Many first-time buyers are surprised to learn they qualify for programs designed to make homeownership more affordable and accessible.

From down payment help to flexible loan options, these programs can save you thousands, and get you into your new home sooner than you thought possible.

Here’s a breakdown of common first-time homebuyer programs you might be eligible for:

1. FHA Loans

Backed by the Federal Housing Administration, FHA loans are a popular choice for first-time buyers. They offer:

• Lower down payment options (as low as 3.5%)
• More flexible credit score requirements
• Competitive interest rates

If you’re just starting to build credit or don’t have a large down payment saved, this might be a great fit.

2. USDA Loans

If you're buying in a designated rural or suburban area, a USDA loan could be a powerful tool. Features include:

• 0% down payment
• Low mortgage insurance
• Competitive interest rates

Bonus: Some Keystone’s communities qualify for USDA financing,ask your Neighborhood Specialist if your dream neighborhood is eligible!

3. VA Loans

Available to active-duty military members, veterans, and eligible spouses, VA loans offer:

• 0% down payment
• No private mortgage insurance (PMI)
• Reduced closing costs

It’s one of the most generous programs available, and a well-earned benefit for those who’ve served.

4. Keystone Incentives with Approved Lenders

At Keystone, we offer closing incentives for buyers who use one of our Approved Lenders. These incentives vary by community and can be used to:

• Pay toward your down payment
• Lower your closing costs
• Pay down your interest rate
• Make interior upgrades in our Design Studio

Ask your Neighborhood Specialist for details about what’s available in your desired community!

Final Thought:

You don’t have to navigate home financing alone,and you may qualify for more help than you realize. Taking the time to explore first-time buyer programs can make a big difference in your homebuying journey.

Not sure where to start? Contact us and we can connect you with trusted lenders who will walk you through your options and help you make the most of every opportunity!