PNC Bank ; Bank of America Mortgage ; Chase Mortgage ; Ally Bank ; CitiMortgage ; Better ; Valley Bank Community Advantage/Plus Programs
The important things to know about a mortgage are: ; It’s a specific type of loan for buying a property or land. ; It’s a long-term loan that is paid back over many years. ; It is tied to your home as collateral, which means that if you fail to make your repayments on a mortgage, the mortgage lender can repossess your home and sell it to cover the debt.
Mortgages explained ; What is a mortgage? · A mortgage is a loan taken out to help you buy a home. Most mortgages last between 20 to 30 years, but the term can be longer or shorter. You’ll make monthly repayments throughout this term, including interest on the loan. The loan is tied to your home, until you pay it off. This means if you don’t make your repayments, the lender could take back – or ‘repossess’ your home and sell it. Learn more about how mortgages work ; What is a first t...
Best mortgage lender, Best for, Minimum credit score, Minimum down payment ; Rocket Mortgage, Low down payment, 620 for most loan types, 1% ; Ally, Online pre-approval, 620 for most loan types, 3% ; Chase, Existing customer discounts, Not disclosed, 3% (0% for VA) ; Flagstar, New construction or renovation loans, 620 for most loan types, 3.5% (0% on select professional, new home, renovation, and VA loans) ; Guild Mortgage, Buyer guarantees, 620 for most loan types, 3% ; New American Funding, Fast closing, 620 for most loan types, 3%
Ways we can help ; Find out how much you could borrow ; Different types of mortgages ; Online decision in principle ; Got a mortgage question?
Britain’s second-biggest mortgage lender has relaxed its affordability criteria for first-time buyers as rates finally begin to fall...
Mortgage calculator · Before you start searching for your first home, you’ll want to find out how much you might be able to borrow, and how much your mortgage could cost. Our online mortgage calculator tool will help to give you a rough idea in a few minutes, and will also show you our latest rates. Mortgage calculator · Already started a mortgage calculation? · Log on to your mortgage journey ; Agreement in Principle (AIP) · An Agreement in Principle confirms how much you could be eli...
Getting onto the property ladder can be a big step. First time buyer mortgages from Halifax can help. Find out more about our rates, deals and offers here.
Some 63% of first-time buyer mortgages taken out between January and December 2023 were in joint names
Experts offer advice for potential first-time buyers thinking of navigating chaotic mortgages market