A FTHB (First-Time Homebuyer) loan is a mortgage program designed to help people buying their first home, often offering lower down payments, reduced interest rates, or down payment assistance to make homeownership more affordable and accessible.

Federal Programs

• FHA Loan (Federal Housing Administration) – allows lower down payments and more flexible credit requirements.

• VA Loan (Department of Veterans Affairs) – for eligible veterans, service members, and some surviving spouses, offering zero down payment.

• USDA Loan (U.S. Department of Agriculture Rural Development) – zero down payment loans for homes in qualifying rural areas.

• Fannie Mae HomeReady® & Freddie Mac Home Possible® – conventional loan programs with as little as 3% down and flexible underwriting.

State & Local Programs

• Down Payment Assistance (DPA) Programs – state or county grants/loans to cover down payment or closing costs.

• First-Time Homebuyer Tax Credit / MCC (Mortgage Credit Certificate) – provides a tax credit on mortgage interest.

• State Housing Finance Agency (HFA) Loans – special programs administered by state housing authorities.

Common General Labels

• “First-Time Homebuyer Program”

• “Down Payment Assistance Program”

• “Homeownership Assistance Program”

• “Affordable Housing Program”