What can I expect

Is your income too high or too low? Too low and you likely won't be approved for either. If by too high, you mean you make too much to qualify for a down payment assistance or low-down payment loan program, that does not mean you don't qualify to be a first-time home buyer. A Commercial loan would typically be used to purchase a property you are NOT planning to live in and in most cases would require a minimum of 20% down. If you are planning to live in it and have at least 3.5% for a down payment, FHA could be your source. With 5% down, conventional loans are available. You should be working with a licensed Mortgage Broker. Reach out and let me see if we can help. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ At NEXA, we've got you covered. We are licensed in all states except MA and NY and we are pending approval in VA, so give us a call. ~ www.ApplyYes.com 480-889-9000.

Commercial loan? Only if you are buying a commercial property, and then there is no such thing a first time home buyer programs in the commercial world anyway. If you are buying a regular home to live in, while you may have too much income for a first time home buyers program, standard financing starts with as little as just 3% down payment. I lend in MN, WI, IA, SD, ND. Visit my web site at FirstTimeHomeBuyer-MN.com - Cambria Mortgage, NMLS 274132