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First Time Home Buyer Programs

These programs provide less stringent qualification requirements and reduced rates. Therefore, it is easier for the first-time buyer to qualify for a new home. In addition,  non-first-time buyers may consider another low down payment loan program.

FHA Home Loans 

FHA loans are mortgage loans that are insured by the Federal Housing Administration. As a result, are the easiest to qualify. Available for single family, multifamily and manufactured homes. Also, condos on the FHA approved list are eligible. However, county loan limits apply, so call us to determine what works best for you.


  • 96.50% Financing
  • First-time buyer status not required
  • Gift funds are allowed
  • Seller may contribute up to 6% of purchase price towards closing costs pre-paid and escrows
  • Minimum 580 credit score with CharterStone Mortgage
  • FHA 203K renovation loans available

VA Home Loans 

VA loans are mortgages offered to service members, veterans and eligible surviving spouses. Accordingly, The VA governs eligibility for these loans. As a result, VA Mortgages have exceptional benefits. For example, they have no monthly mortgage insurance as well as lower rates.


  • 100% Financing including refinancing
  • Seller may contribute up to 4% of the purchase price towards closing costs prepaid and escrows.
  • No monthly mortgage insurance
  • Waiver of VA funding fee for vets with an eligible certificate
  • VA Construction Loans
  • VA Renovation Loans

97% Financing Fixed Rate

A conventional loan program that allows a 3% down payment. More importantly, are available for both first-time buyers as well as current homeowners.  Eligible for single-family homes, townhomes. In contrast to FHA allow for condos that not required to be on an approved list.


  • Down payment and closing costs can be a gift.
  • The seller may contribute up to 3% of the purchase price to closing costs pre-paid costs and escrows
  • 97% Standard program does not require first-time homebuyer status
  • 97% First-time Homebuyer Allows for lower rates and private mortgage insurance than 97% Standard Program.


Renovation Loans 

These mortgages allow the purchase price and repairs to be financed in one loan. No experience required and are perfect for taking advantage of good value on a fixer-upper.

Working with CharterStone Mortgage

Digital Application and Remote Online Closings

Lock Your Rate and Shop for Your Dream Home

Lower Rates and Fees

Experienced Loan Advisors

Reduced PMI Rates

Fast Closings

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