First-Time Homebuyers

Grants and 100% Financing Options.

Are you a first-time homebuyer eager to take the exciting step towards homeownership? Congratulations! Owning your first home is a significant milestone in life, and we’re here to guide you through the process. One of the key considerations for first-time buyers is financing, and that’s where we come in. In this comprehensive guide, we’ll explore grants for down payments, 100% financing options, and the various types of 100% loans available to make your homeownership dream a reality.


No matter which type of loan that you choose, it comes with the HomeRate Mortgage Guarantee: Quick quotes, low rates, & fast closing times.

Grants for Down Payments:

Many first-time homebuyers find the prospect of saving for a down payment daunting. However, there are various grants and assistance programs designed to ease this financial burden. These grants can significantly reduce or even eliminate the need for a down payment, making homeownership more accessible than ever before.

Common types of down payment assistance include:

Government Grants: Federal, state, and local governments often offer grants to assist first-time homebuyers. These grants may cover a portion or the entire down payment, helping you get into your new home with minimal upfront costs.

Nonprofit Organizations: Several nonprofit organizations are dedicated to helping individuals and families achieve homeownership. They provide grants and financial education to make the process more manageable.

Employer Programs: Some employers offer down payment assistance as part of their benefits package, helping employees achieve their homeownership goals.

Community Programs: Many communities have initiatives aimed at revitalizing neighborhoods and promoting homeownership. These programs may provide grants or low-interest loans to encourage first-time buyers.

Specialized Programs: Depending on your circumstances, you may qualify for specialized grants, such as those for veterans, teachers, or healthcare workers.

100% Financing Options:

If you’re looking to purchase your first home with little to no down payment, 100% financing options are worth exploring. These mortgage programs eliminate the need for a traditional down payment, allowing you to finance the entire purchase price of your home.

Types of 100% Financing Loans:

VA Loans: If you’re a veteran or active-duty service member, VA loans offer excellent 100% financing options. These loans are backed by the U.S. Department of Veterans Affairs and often have competitive interest rates and flexible qualification requirements.

USDA Loans: The U.S. Department of Agriculture offers USDA loans for eligible rural and suburban homebuyers. These loans require no down payment and often have lower interest rates compared to conventional mortgages.

Homerate Mortgage DPA Loan: DPA Loans are down payment assistance loans that offers 100% financing to families. These loans come with competitive terms and are a great option for those who qualify. You get a traditional for mortgage and a DPA 2nd mortgage to cover the down payment.

Doctor Loans: 100% financing options specifically designed for medical professionals, including doctors, dentists, and veterinarians. These programs recognize the unique financial situations of healthcare professionals.

State and Local Programs: In addition to federal programs, many states and local governments offer 100% financing options to promote homeownership in their communities. THDA Loans, CNE Loans, and GA Dream are available in TN and GA. These programs often have varying eligibility criteria, so it’s essential to check with your local housing authority.

Reach Out To Us

70% of first time homebuyers think they have to save a 20% down payment, but its simply not true., As a first-time homebuyer, you have access to a wide range of grants and 100% financing options to help you achieve your homeownership goals. Our team of experts are here to assist you in navigating these options and finding the perfect solution for your unique circumstances. Don’t hesitate to reach out to us to get started on your journey towards owning your first home.


If you would like to know the rate for which you qualify, Apply Online, and we will give you an accurate assessment of what you qualify for. If you have any questions, just click Contact Us or call us at (615) 325-8200.

HomeRate Mortgage saves local home owners money. Our ultimate goal is to create lasting relationships with each of our clients so that we may continue providing excellent service for many years to come. You can explore our conventional loans, VA loans, or Jumbo loans programs