Loan Expert Team
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What is a First-Time Homebuyer Program?
First-time homebuyer program is a gov-sponsored program designed to help individuals who have never owned a home before to purchase their first home.
You must meet certain income requirements.
You must have a credit score of at least 620.
You must attend homebuyer education courses.
You must be a first-time homebuyer, meaning you have not owned a home in the past three years.
Exploring First-Time Buyer Programs
Who They're Ideal For
Ameritrust-Mortgage is your trusted partner in the journey to homeownership. Our mission is to provide you with exceptional service and guidance as you embark on this exciting milestone.
Simplified Process
Buying your first home can feel overwhelming. We simplify the process with easy tools and expert guidance, helping you navigate confidently.
Expert Guidance
Our mortgage experts guide you at every step, simplifying terms and loan choices to keep you informed and empowered.
Transparent Communication:
At Ameritrust-Mortgage, we value transparency, offering clear guidance with no hidden fees or surprises.
Customized Solutions
Every homebuyer is unique, so we tailor solutions to your needs, from first-time buying to refinancing.
Streamlined Application Process
Our online application is quick and simple. Apply from home, with support ready to help.
Trusted Partner
Choose Ameritrust-Mortgage for a trusted partner dedicated to helping you achieve your homeownership dreams with unwavering support
Start Your Journey Today
Ready for homeownership? Complete our lead form or loan application to start your journey today!
Program Perks
Benefits of a First-Time Home Buyer Program
There are several advantages to participating in a first time home buyer program, including:
Lower down payments make buying a first home easier.
Lenient credit score requirements enable more buyers to qualify.
Reduced interest rates make homeownership more affordable.
Assistance with closing costs eases financial strain.
Grants and incentives help achieve homeownership goals.
Down Payment Assistance for First-Time Home Buyers
Down payment assistance programs offer grants or loans to help first-time buyers cover partial or full down payments, easing a major homebuying hurdle.
The Americans Dream Down Payment Initiative
Provides grants specifically for first-time buyers.
Learn More
The good neighbor next door program
Offers a 50% discount on homes for eligible responders and educators.
Learn More
The national homebuyers fund
Offers grants of up to 5% for down payment or closing costs.
Learn More
Non-QM Loan Programs
At Ameritrust Mortgage, we understand that every borrower is unique. That's why we offer a variety of <strong>Non-QM loan programs to suit different financial situations. Whether you are self-employed, have an inconsistent income, or need a loan that considers alternative credit criteria, we have the right solution for you.
DSCR Mixed Use
Asset depletion is a financial strategy utilized by lenders to assess a borrower's eligibility for a loan.
- 2 Month Bank Statement
- ITIN Program to 80%
- Min FICO. 700
- Max LTV. 75%
1099 Loans
Our 1099 loans, provide flexible financing solutions tailored to your needs.
- Upto 50% DTI Ratio
- Interest Only Available
- 1/2 Year Form
- Uses 1 or 2 years of 1099 forms to qualify borrowers.
Foreign National Loans
A specialized loan program for foreign nationals, providing tailored financing solutions.
- $ 3M Max Loan Amount
- Asset Utilization allowed as an eligible doc option
- Available for those with different types of visas (e.g., E2, H1B, L1).
Profit & Loss Only
Specialized mortgage products for financing units that are operated as part of a hotel or resort.
- Min FICO. 660
- Max LTV. 85%
- 6 Months and 12 Months term available.
Bank Statement Loans
Bank statement loans assist self-employed borrowers with mortgage qualifications.
- Upto 50% DTI Ratio
- Cash Out up to 80% LTV
- Primary, 2nd Home, Investment
- Utilizes 12-24 months of personal or business bank statements.
DSCR Loans
Specialized financing option for real estate investors or commercial property owners.
- 1003 With no income/job
- Min FICO. 620
- Max LTV. 80%
- Copy of leases for the properties in question
Platinum ITIN Loans
For real estate investors who do not have a Social Security Number but possess an ITIN
- Max 75% Cash Out
- 24-Month Bank Statement Option
- Available for primary, second homes, and investment properties.
Bridge Loans
Provide borrowers with immediate access to funds for a down payment or to cover expenses.
- Loan Amounts up to $9M
- Terms: 6-60 Months
- Rates: 9.50% - 12.99%
- Secured by existing or new property.
The Requirements
No homeownership in the past three years.
Meet program-specific income limits.
Credit score of 620+ (varies by program).
Complete required homebuyer education.
Budgeting Basics
Understand your financial situation, including saving for a down payment, factoring in closing costs, and budgeting for ongoing homeownership expenses like mortgage payments, insurance, and maintenance
Mortgage Options
Explore various mortgage options available to first-time home buyers, including FHA loans, VA loans, USDA loans, and conventional loans, to find the best fit for your financial situation and needs.
Home Buying Process
Familiarize yourself with the steps involved in the home buying process, from pre-approval and house hunting to making an offer, home inspection, and closing, to ensure a smooth and successful experience.
Have Questions?
Curious about anything?
Below you can find the answers to frequently asked questions.
Anything Unclear or Need Some Help? Relax, We Are Here for You 24/7
Relax and take comfort in knowing that our 24/7 support ensures you're never alone on your financial journey.
Customer Service
Please provide your query, and we will assist you as quickly as we can.
- Contact Us
- Business Hours Monday - Friday 8:00 AM to 5:00 PM PST
Stay Connected
+1 ( 888 ) 499 - 9060
info@ameritrust-mortgage.com
Address: 17341 Irvine Blvd., Suite 285, Tustin, CA 92780
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- +1 ( 888 ) 499 - 9060
- 17341 Irvine Blvd., Suite 285,
- Tustin, CA 92780
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