There are a number of loan programs available that are suitable for first time home buyers. At Greenway Mortgage, we are proud to offer many conventional home loans that are tailored to you based on your current finances. We also offer special government loan program options to help you get into your new home.
FEDERAL HOUSING ADMINISTRATION (FHA) LOANS
These are government-insured loans from the US Department of Housing and Urban Development (HUD) that offer low down payments, making them especially attractive to first time home buyers who are looking to save where they can. The rates on these loans are often lower than conventional products and have less stringent credit requirements.
FHA loans are also often assumable, meaning you can take over the loan from the previous owner, and pass it on to someone else if you decide to move. Learn more.
VETERANS AFFAIRS (VA) LOANS
VA loans are offered by the government to veterans of the armed forces, as well as those currently on active duty, and widows or widowers of veterans. VA loans have less strict requirements and require no down payment. Learn more.
UNITED STATES DEPARTMENT OF AGRICULTURE (USDA) LOANS
For would-be home owners living in smaller towns or rural areas, USDA loans are a great option for fulfilling their dreams of buying a home. Like VA loans, they require no down payment but are subject to USDA eligibility maps. Learn more.
Check out more First-Time Home Buyer Programs Here.
Have you seen our First-Time Home Buyer Video? If not, you can check it out here.
Here at Greenway, we believe the mortgage process should be exciting and fun, not intimidating or confusing. With Greenway by your side to answer your questions and guide you through every step of the process, you'll feel more confident about your decision and super-stoked about your future!
Home Loan Financing
We also know that you probably prefer to do online research about a major purchase before you decide to speak to someone personally. We’re okay with that, which is why we’ve created mortgage resources for the first-time home buyer where you can learn everything you need to know about homeownership.
Loan Approval is Key!
It's important to remember one thing, getting a loan approval is key! Why? It will help you beat out the competition, negotiate with power and let you know how much you can afford.
We believe in giving back! We donate 5% of our annual profits to local and regional non-profit groups and causes. Our employees are also active in the communities we lend in. Visit our website here to learn more and join our causes!
We know that buying your first home can be overwhelming. If you have questions about anything you’ve read, or if you’re ready to begin the mortgage process, we’re here to help! Start the conversation with a licensed Greenway loan officer today!
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The Monmouth County, NJ First Time Homebuyer Assistance Program is designed to provide financial assistance to low income families to purchase an affordable home in the form of a deferred payment second mortgage loan in an amount not to exceed $10,000 for down payment and closing costs (only).
PROGRAM DETAILS & ELIGIBILITY
MUST BE a resident of Monmouth County for 1 YEAR before applying for a grant.
ALL applicants must complete a pre-purchase housing counseling course and provide a certificate of completion with the First-Time Homebuyer application.
MUST BE an individual(s) that never owned a home (except if an applicant has previously owned a home he/she still may qualify if they meet 1 or more of the following criteria:
An individual that has not owned a home in 3 years prior to receiving home assistance.
An individual who is a single parent even if the individual owned a home with his or her spouse or resided in a home owned by the spouse
An individual who is a displaced homemaker even if as a homemaker the individual owned a home with his or her spouse or resided in a home owned by the spouse.
Must be low income. Gross annual income does not exceed 80% of the county median income: