Core Insights - The article provides a guide to the best mortgage lenders for first-time homebuyers in 2026, focusing on criteria such as first-time buyer loans, low down payment options, and down payment assistance [1] Group 1: Best Mortgage Lenders - Chase offers a minimum credit score of 620 for conventional loans and 680 for jumbo loans, with a down payment minimum of 3% for conventional loans and 3.5% for FHA loans [2] - Veterans United Home Loans requires a credit score of 620 for conventional and VA loans, with a down payment minimum of 3% for conventional loans and 3.5% for FHA loans [2] - Bank of America has a credit requirement of 620 for conventional loans and a down payment minimum of 3% for conventional loans and 3.5% for FHA loans [2] - Better requires a credit score of 620 for conventional loans and 580 for FHA loans, with a down payment minimum of 3% for conventional loans and 3.5% for FHA loans [2] - PenFed Credit Union requires a credit score of 620 for conventional loans and 700 for jumbo loans, with a down payment minimum of 3% for conventional loans and 3.5% for FHA loans [2] - PNC Bank has a credit requirement of 620 for conventional loans and 600 for FHA loans, with a down payment minimum of 3% for conventional loans and 3.5% for FHA loans [2] - Wells Fargo requires a credit score of 620 for conventional loans, with a down payment minimum of 3% for conventional loans and 3.5% for FHA loans [2] Group 2: Mortgage Lender Types - Different types of mortgage lenders include banks, credit unions, independent institutions, and mortgage brokers, who can help find loan offers from various lenders [3] - First-time homebuyers should consider their goals and preferences, such as the type of loan, duration of stay, and support needs, to narrow down lender choices [4] Group 3: First-Time Homebuyer Programs - First-time homebuyer programs typically offer lower interest rates, reduced down payment requirements, and other savings options, such as lower mortgage insurance premiums [7] - Grants for first-time homebuyers may be available to assist with down payments or closing costs, often not requiring repayment if certain conditions are met [8] - The amount needed for a down payment varies, with options as low as 3% for conventional loans and no down payment for eligible military members or rural buyers [9] Group 4: Methodology - Bankrate evaluates over 75 lenders based on affordability, availability, and borrower experience, assigning a Bankrate Score out of five stars, with top lenders generally scoring 4.8 stars or higher [10]

RT Uché Perkins Sr. (@JustAFamilyMan_)First, I used the MMP, which is a state run program that helps first time homebuyers with down payment and closing cost assistance. Through MMP, I was able to get grants from local, state, and federal sources. ...

We know with the new home buyers that are out there, especially among millennials, and I think the average age still right now is sitting at about 38 for the new home firsttime home buyer. What are the tips that they should be keeping in mind even if they don't have that parental or familial help. It's challenging.It means that they need to be putting away 28% if they can of their income over the next decade to try and build it up. And that's really hard if you're not getting that much more against the incr ...