Types of Loan Programs

As a first-time home buyer, there are several different loan programs that you could use. These include:

FHA Loans

This loan type is great for first-time homebuyers. FHA loans have less strict requirements, which makes them easier to qualify for. At Amerina Services, LLC,  we offer this loan type all the way down to a 500 credit score. FHA mortgages have a maximum loan-to-value ratio of 96.5% which means the down payment is only 3.5%. There are many advantages to FHA loans including low-interest rates, higher debt-to-income ratios accepted, adjustable and fixed-rate options, and more.

VA Loans

If you are a veteran, you may be able to qualify for a VA loan. These loans require no down payment or mortgage insurance. This makes them the cheapest type of mortgage available. If you are a veteran, we can help you determine if this is the right loan option for you and figure out if you qualify.


USDA loans are best for people looking to buy in rural areas. If you are looking to buy your first home in a USDA eligible location, you may qualify for this type of loan, which would allow for no down payment and a low mortgage rate.

Fannie Mae and Freddie Mac

Fannie Mae and Freddie Mac loans are two government sponsored entities that help first-time homebuyers. With a conventional 97 mortgage that a Fannie Mae and Freddie Mac loan can provide, the down payment could be as low as 3%.

If you are looking to buy your first home, let Amerina Services, LLC guide you through the home-buying process. We can provide you with the knowledge, understanding, and guidance to make your experience fun as it should be! Our team can help you find the right loan program based on your specific situation to make your homeowner dreams a reality! Contact us today to get started.