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Compare First-Time Home Buyer Mortgage Lenders & Programs

These mortgage lenders cater to first-time home buyers with low down payments, grant programs and educational materials.

For first-time home buyers, finding the right mortgage can be a big challenge. You want to work with a lender that can give you the best rate, the right term and the lowest closing costs, as quickly and efficiently as possible. NerdWallet has picked standout mortgage lenders for first-time home buyers.

Applied filters: Purchase, Credit score: 720, ZIP: 97818, Veteran: No

Showing top 3 matches in OR

Rocket Mortgage, LLC

NMLS#3030

Rocket Mortgage, LLC

NerdWallet rating

Min. credit score

620

Min. down payment

3%

Pros

  • Offers down payment and closing cost assistance.
  • Largest lender, by volume, of FHA loans in 2025.
  • Borrowers can apply via mobile app.
View Ratesat Rocket Mortgage, LLC
NBKC

NMLS#409631

NBKC

NerdWallet rating

Min. credit score

620

Min. down payment

3%

Pros

  • Competitive interest rates and fees.
  • Offers most common loan types, as well as a handful of specialty loans.
  • Payouts are available to borrowers whose loans don’t close on time.
View Ratesat NBKC
Rate

NMLS#2611

Rate

NerdWallet rating

Min. credit score

580

Min. down payment

3%

Pros

  • Fully underwritten mortgage approval in as little as one day for qualified borrowers.
  • Generous selection of loans, including government-backed, interest-only, jumbo and renovation.
  • Advertises a fixed-rate HELOC that can be funded in as few as five business days.
View Ratesat Rate
What type of loan is best for a first-time home buyer?

The best mortgage for you as a first-time home buyer is the loan for which you're most qualified. And that depends on a number of factors, including your credit score. With a credit score of at least 580, you may find that a loan backed by the FHA is your best option. With a credit score around 620 or higher, a conventional loan might be a better option, and could require an even lower down payment of 3%.

What programs are available for first-time home buyer?

Many grants, special loans and down payment assistance programs are available to borrowers looking to buy their first home. These first-time home buyer programs are offered by agencies in the state where you live.

Why should I shop multiple lenders?

You could save thousands of dollars by shopping around. However, many consumers don’t do that. In a 2015 report, the Consumer Financial Protection Bureau found that 77% of consumers apply to only one lender or broker when seeking a mortgage. By shopping just three different lenders, borrowers could save more than $3,500 in just the first five years, according to the CFPB.

» MORE: Calculate your mortgage payment

Methodology

NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.