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Best mortgages for first-time buyers

By HawkLend Editorial · Updated May 13, 2026 · 8 min read
CE
HawkLend Editorial Team
Independent rate analysis · reviewed by senior editor

How we picked

First-time buyers usually need three things: a low down payment, flexible credit thresholds, and a lender who can hand-hold through the process. Below are the lender programs purpose-built for first-time buyers, including FHA, VA, and conventional 3% down options.

1

Wells Fargo Dream. Plan. Home.

Best grant program

  • Up to $10K down payment grant
  • $5K closing cost grant in eligible areas
  • Conventional 3% down
  • Eligible area only
6.74% APR See My Rate
2

Rocket Mortgage ONE+

Best 1% down

  • Just 1% down required
  • Rocket grants the remaining 2%
  • No PMI on this product
  • Income limits apply
6.49% APR See My Rate
3

Bank of America Affordable Loan Solution

Best low-down conventional

  • 3% down conventional
  • No PMI
  • Down payment assistance up to $10K
  • Income limits in some markets
6.55% APR See My Rate
4

Chase DreaMaker

Best for Chase customers

  • 3% down conventional
  • Reduced PMI
  • $5,500 grant in eligible areas
  • Income limits apply
6.62% APR See My Rate
5

Veterans United

Best VA lender

  • 0% down VA loans
  • VA expert advisors
  • Top VA volume nationwide
  • VA-eligible borrowers only
6.45% APR See My Rate

Bottom line

The right pick depends on your credit profile, timing, and how much you're borrowing. Run a soft-pull comparison through HawkLend to see which of these providers will actually approve you and at what rate — takes about two minutes, no impact to your credit.

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