– For the first time home buyer, conventional loans are available in a variety of terms (30, 20, 15 years) for a fixed-rate loan. There is also the option for choosing an adjustable rate mortgage (arm). While these loans do require a down payment of 20%, most lenders will accept a minimum down payment of 5%.
First Time Land Buyer Grants 6 First-Time Homebuyer Grants and Programs That Will Get You Into. – Looking for help buying a home? These first-time homebuyer grants and programs can help you reach your goal of homeownership faster.