First-Time Homebuyer Loans

Zero Down Payment Programs

These zero-down payment programs are designed for first-time homebuyers. As a result, they are easy to qualify. In addition, they carry lower than conventional mortgage rates having no monthly mortgage insurance.   

USDA Home Loans

This loan program is restricted to rural geographical areas for low to moderate-income families.   Not only does the USDA help families reach the American Dream, but it also helps underserved communities grow.  USDA home loans offer low fixed rate with no monthly mortgage insurance.
As a result, this is one of the most affordable loan programs.      

USDA Home Loan Features

  • 100% Financing, no down payment required 
  • 30-Year Fixed Rate Loan 
  • Grants, Gift Funds, and Mortgage Credit Certificates allowed
  • Home must be in a USDA approved area
  • Single Family homes, Condo, PUDs, single and double-wide manufactured homes allowed 

VA Home Loans 

A VA home loan benefits active duty and qualifying veterans to achieve the American Dream with zero down payment. VA Loans are excellent for first-time homebuyer loans or experienced buyer.  Most importantly, this government-insured loan has no maximum Debt to Income Ratio (DTI) restrictions. Veterans have qualified to purchase a home with over 70% DTI.    In addition, we make it easy by getting the Certificate of Eligibility for you. Let us do the work, and you enjoy your home – you earned it. 

Who Is Eligible for a VA Loan?


  • A qualifying active duty member or veteran of the U.S military, reservist, National Guard, and Coast Guard. 
  • Un-remarried surviving Spouse, a service member. 
  • Surviving Spouse of certain totally disabled veterans whose disability may not have been the cause of death.  

Low Down Payment Loans

These low-down payment loans are for first-time homebuyers and seasoned buyers. They offer a 3% down payment, reduced monthly private mortgage payments, and other benefits.    

Standard 3% Down Payment

First-time homebuyer status is not required however is allowed.  This program provides a 3% down to the 2019 single-family loan limit of 485,350. This program is perfect for first-time buyers or experienced.  Allows fixed-rate monthly payments for single-family homes, condominiums, townhomes, and Planned Urban Developments. 

Loan Program Benefits


  • Low down payment 
  • Low fixed rate monthly mortgage payment  
  • Low or no reserves required
    Lower monthly mortgage insurance through CharterStone Mortgage
  • Single-family homes, Condominiums, Townhomes, and Puds 

HomeReady and Home Possible 

These programs are limited to first-time homebuyers only and are designed for low to moderate-income households. In addition, they offer flexible credit and income qualifications.  

Loan Program Benefits 

  • 3% down payment 
  • Gift Funds allowed 
  • Flexible Income allowed 
  • Rate and monthly PMI payment reductions. 

**CharterStone Mortgage is not affiliated with or acting on behalf of or at the direction of FHA, VA, USDA, or the Federal Government.

Programs are subject to change without notice. All applicants must meet underwriting guidelines from the lender that are subject to change without notice and must meet all Federal and State regulations. This information is not guaranteed to be accurate due to changing financial and economic environment.  

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