Mortgage Insights – 10/6/26 – First-Time Home Buyers: What You Need to Know Before You Buy
On this week’s Your Money Matters Radio Show, we focused on First-Time Home Buyers — who they are, what qualifies them, and most importantly, how many options are actually available in today’s market.
Listen to the full 10/6/26 episode here: https://www.haystackhelpradio.com/wp-content/uploads/2026/10/Haystack-10-06-26-REPEAT-Your-Money-Matters-Mortgage-Insights.mp3
Did you know over 31% of today’s buyers are first-time buyers? And historically, homeowners have a net worth dramatically higher than renters. Homeownership is still one of the most powerful wealth-building tools available.
Here’s what we covered:
What is a First-Time Home Buyer?
If you haven’t owned a home in the past 3 years, you may qualify.
Loan Options Available:
- Conventional – as little as 3% down
- FHA – 3.5% down, flexible credit & higher DTIs
- VA – 0% down for eligible veterans
- USDA – Zero down in eligible rural areas
- Non-QM – Bank statement & asset-based options for self-employed borrowers
There is no “one-loan-fits-all” anymore. Your goals, payment comfort, credit profile, and long-term strategy matter.
Down Payment Assistance (DPA)
There are over 2,000 assistance programs nationwide — city, county, state, and national options. Some offer 1–5% assistance, sometimes structured as a silent second mortgage. Income limits can apply.
Gift Funds? Yes.
Family gifts (not loans) and gift of equity may be allowed depending on the program.
Pre-Approval vs. Pre-Qualification
One of the most important takeaways: submit for a true Pre-Approval, not just a Pre-Qual. Know your payment, rate, APR, term, closing costs, and qualification guidelines before you shop.
Self-Employed Borrowers
We discussed how tax returns, depreciation, bank statements, and asset income are evaluated — and what alternative programs may be available.
As rates continue to move, preparation is everything. Whether you’re 6 months or 12 months out, the right strategy starts now. If you’re considering buying your first home, let’s build a plan that fits your goals.
Be sure to tune in every Tuesday from Noon–12:30 PM on KLZ 560AM for Your Money Matters.
With gratitude,
Kurt Rogers
Managing Broker | Affordable Interest Mortgage
NMLS #217147 | IMB #2191655
Equal Opportunity Lender | Regulated by the Division of Real Estate
(720) 895-0500 | www.aimortgage.net
