First Time Home Buyer

Few experiences can compare with the excitement of shopping for your first home—except maybe being handed the keys!

American Mortgage Solutions, with offices in Louisville and Cape Coral, is here to help you get to that moment quickly and affordably by matching you with the right loan.

We Match You With the Ideal Loan to
Purchase Your First Home

Every first time homebuyer has a different situation. That means that there is no single type of loan that is perfect for all customers shopping for their first homes.

Some buyers may benefit most from a conventional loan. Others might do better with a government-backed lending product.

Here at American Mortgage Solutions, we offer both.

Conventional

A conventional conforming loan is one that is eligible for Fannie Mae or Freddie Mac to purchase. That means that it does not exceed the conforming loan limits. Down payments for conventional mortgages can be as low as 3%, and interest rates can be adjustable or fixed. Their flexibility and affordability makes them suitable for many borrowers shopping for their first homes. Learn more

Jumbo

Sometimes a first time homebuyer might need to borrow above the conforming loan limits. Non-conforming loans, or “jumbo” loans, make it possible to finance a larger home purchase. Learn more

FHA

Among first time homebuyers, one of the most popular products is the FHA loan, backed by the Federal Housing Administration. Borrowers do not require perfect credit to take out this type of mortgage, and can qualify for low interest rates. You can make a down payment as low as 3.5% for this type of home loan. Learn more

VA

If you are buying a home as a veteran, active duty service member, or eligible surviving spouse, you may apply for a mortgage backed by the US Department of Veterans Affairs called a VA loan. Zero down payment, no mortgage insurance requirement, affordable interest rates, and easy credit qualifications make this one of the most competitive options in existence to finance a home purchase. Learn more

USDA

Shopping for a home in a rural area gives you the opportunity to apply for a USDA mortgage to buy your first residence. This income-based loan program lets you move in with zero down and affordable rates. Learn more

FHA 203k Loans

If the first home you want to buy is a fixer-upper, you can roll together the purchase and repair costs with an FHA 203k loan. Learn more

Bank Statement Loans

Many first time homebuyers are self-employed, and run into obstacles with the traditional application process when they are unable to provide a W2. If the big banks turned you away for this reason, our bank statement loan program will allow you to successfully purchase your first home without a W2. Learn more

Why Work With American Mortgage
Solutions on Your First Home Loan?

Here are a few reasons to buy your first home with us:

• We love working with first time homebuyers. The excitement of borrowers shopping for their first homes is contagious, and we look forward to the moment they become homeowners. Doing our part to make that happen quickly and easily is one of the most rewarding parts of our jobs.
• We are here to answer every question you have about the home buying process. We receive a lot of questions like, “What rate will I qualify for? What score do I need? What down payment do I need to make?”
• We make the mortgage process stress-free and easy. Over the 20+ years we have been in business, we have learned how to streamline the steps in the mortgage process, making it as effortless as possible to buy a home.
• We offer the flexibility you need. If the big banks turned you away, you will find the loan product you are looking for here. We can work around obstacles and match you with a solution that fits your needs. You do not need perfect credit or traditional employment status to qualify for a competitive loan.
• We are always available to you. Whenever you have a question or concern, just give us a call. Our friendly team will be here to assist you.

Buy Your First Home Now in FL or KY

Don’t wait any longer to make your dream of owning your first home come true. To schedule your consultation now, please give us a call at (502) 327-9770 in Kentucky or at (239) 766-8344 in Florida. We also work with first time homebuyers in Colorado, Indiana and Tennessee.