Your first home
First-Time Buyer Programs
Low down payment loans, grants and flexible approval paths for buyers purchasing their first home.
How First-Time Buyer programs work
Buying your first home involves a set of programs most people never hear about, because nobody has a commercial incentive to tell them. Down payment assistance, grants, and low-down-payment loan products exist at the state, county and municipal level, and they can often be layered together.
North Carolina and South Carolina both run housing finance programs aimed at first-time buyers, and eligibility is broader than most people assume. In many cases you do not need to be literally purchasing your first home ever, buyers who have not owned in the past three years frequently qualify.
The other half of this is knowing what happens next. Most first-time buyers are not confused about money so much as about sequence: what to do first, what a pre-approval actually means, what happens at closing. We walk through all of it in plain language, and there are no wrong questions.
Common around ConcordKannapolisCharlotteRock Hill
FAQ
First-Time Buyer questions
How much do I actually need saved?
Less than most people think. Several programs allow three to three and a half percent down, some allow zero, and down payment assistance can cover part of what remains. The honest answer depends on your situation, which is what the first conversation is for.
Do I qualify if I owned a home years ago?
Frequently, yes. Many first-time buyer programs define the term as not having owned a home in the past three years, so a previous purchase does not necessarily disqualify you.
What is the difference between pre-qualified and pre-approved?
A pre-qualification is a preliminary estimate based on information you provide. A pre-approval involves verifying that information, and it carries far more weight with a listing agent. In a competitive market, that difference can decide whether your offer is taken seriously.
How long does the whole process take?
From accepted offer to closing is commonly around thirty to forty-five days, though it varies with the property and the program. The parts you control, gathering documents promptly, make more difference than most buyers expect.
Other programs worth a look
- Conventional Loans Competitive rates, flexible terms and low monthly payments for buyers with good credit and steady income.
- FHA Loans Government-backed financing built for buyers with limited savings or a shorter credit history.
- VA Loans Financing for veterans, active-duty service members and eligible surviving spouses.
- USDA Loans Zero-down financing for eligible homes in rural and many suburban areas across the Carolinas.
- Jumbo Loans Financing for homes priced above conforming loan limits, with underwriting handled personally.
- DSCR Loans Investment property financing that qualifies on the rental income the property produces, not on your personal tax returns.
Let's find out what you qualify for.
Start with a conversation. If it makes sense to go further, we will, and if it does not, you will know that too.