Need a prequalification letter?
Make an offer for your next home purchase with confidence! Request a prequalification letter today.Request letter
Limited-time offer
Apply for your home-grown home loan and receive a free appraisal, now until July 31, 2025.¹
With an easy, online application and one-on-one guidance, you’ll be home in no time!
Get homebuying right the first time
Buying your first home is a big decision. Mountain America is here to help. Our team of mortgage experts will guide you through the first-time homebuyer loan process, ensuring you have an easy, worry-free experience. Best of all, you won't have to make a big down payment.
First-time homebuyer loan details
- Get loans up to $645,200—loan limits may be higher depending on the county limits.
- Seller can contribute up to 3% toward closing costs.
- There are no prepayment penalties.
First-time homebuyer program benefits
- Get up to 100% loan-to-value financing.*
- Pay as little as $1,000 down.
- Private mortgage insurance is not required.
- Choose from fixed- and adjustable-rate options.
- There are no income limitations.
- Speed up closing with our Quick Close℠ electronic mortgage process.
Estimate Your Mortgage Payments*
Today's interest rates
100% First-time Homebuyer
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30-Year Fixed Mortgage (New Purchase)
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40/15 First-time Homebuyer
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30-Year FHA
Today's rate
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FAQs for first-time homebuyers
Who is considered a first-time homebuyer?
How do you qualify for a first-time homebuyer loan?
How do you apply for a first-time homebuyer loan?
To apply for a first-time homebuyer loan, you will want to first get preapproved by a lender. The lender will check your credit history and then will need to verify your income and assets. You’ll need to provide the following for financial verification:
- Recent pay stubs
- Most recent W-2 form
- Last two years of tax returns
- Bank statement
- Proof of down payment
Additional items may be required depending on an individual’s unique situation.
Is a first-time homebuyer loan worth it?
How much can first-time homebuyers afford?
Which loan is best for first-time homebuyers?
Mountain America's first-time homebuyer program is an excellent choice for the reasons listed above. FHA loans are another great option as they offer a low down payment and are often more flexible with credit requirements.
Begin your journey to homeownership
Get started today by applying online or calling 1-800-277-7703. If you still have questions, schedule an appointment with one of our mortgage specialists.
Apply nowMeet with a specialist
Meet with a Loan Officer
Our mortgage experts will answer your questions, help assess your financial situation and recommend the best mortgage program for your situation.
*Loans on approved credit. Actual APR based on creditworthiness. Information and interactive calculators are made available as self-help tools for independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regard to individual circumstances. All examples are hypothetical and are for illustrative purposes. Seek personalized advice from qualified professionals regarding all personal finance issues. Actual rate, payment and costs could be higher. The payment amount does not include homeowner's insurance or property taxes which must be paid in addition to your loan payment. Get an official loan estimate before choosing a loan. Some limitations on loan amounts may apply based on county limits and/or loan product. FHA county loan limits apply for FHA loans.
‡ APR = Annual Percentage Rate
- Loans on approved credit. Membership required—based on eligibility. Free appraisal on new purchases and construction loans only. Not available on refinance loans. Cannot be combined with other offers. Limit one per household. Offer valid on applications received between 3/1/25 and 7/31/25 for loans that close no later than 8/31/25. Limited-time offer. Offer can change or be withdrawn at any time.
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