Bank like a financial pro with the Alliant mobile app. Make payments, deposit checks, manage cards and so much more.
Renovate your kitchen, pay off high-interest debt, or have access to emergency funds when you need it with an Alliant Home Equity Line of Credit.
Browse new and used vehicle inventory, and qualify for a rate discount when you buy!81
Separate each of your savings goals into an Alliant Supplemental Savings Account so you can visualize your progress.
By Michelle Huffman
Buying — and financing — as a first-time homebuyer can be overwhelming. There’s a lot of tips for buying a home the first time, from friends and relatives, agents and lenders, and troves of content on the internet. It can be confusing to find your way through it all.
Generally speaking, there are some clear-cut mortgage options for buyers as they take steps for buying a home for the first time. So we will focus on standard mortgage options that first-time buyers should consider.
First, some buying a home for the first time tips:
While there is a slightly longer list of mortgage options out there, most first-time homebuyers will be looking at a conventional loan, either a fixed-rate mortgage or an adjustable-rate mortgage.
While most loans qualify as either a fixed or adjustable-rate mortgage, there are specific programs that offer these mortgages with certain qualifications. A popular option for first-timers is the FHA loan. Backed by the Federal Housing Authority, this program offers loans with as little as 3.5% down, and helps buyers that may have lower credit scores. Other programs include a VA loan, specifically for service members, veterans and surviving spouses, USDA loan for rural properties, or specific state or local programs.
The Alliant Advantage Mortgage Program helps qualified first-time homebuyers overcome some common barriers to homeownership, like down payment and high monthly payments, by offering 0% down, no-PMI loans for qualifying buyers up to $500,000.
While a loan officer can help you answer any of your questions, there are a few things to really pay attention to:
Talking with a loan officer will allow you to explore all of these options. Don’t be afraid to talk to several lenders and ask as many questions as possible until you understand your mortgage options.
Learn more about Alliant mortgages.
Check out these other mortgage tips:
Get even more personal finance info, tips and tricks delivered right to your inbox each month.
Thanks for subscribing to Alliant's Money Mentor newsletter! You will now receive personal finance tips in your email inbox each month.
You are leaving Alliant’s website to enter a website hosted by an organization separate from Alliant Credit Union. The products and services on this website are being offered through LPL Financial or its affiliates, which are separate entities from, and not affiliates of, Alliant Credit Union.The privacy and security policies of the site may differ from those of Alliant Credit Union.
You are leaving an Alliant Credit Union website and are about to enter a website operated by a third-party, independent from Alliant Credit Union. Alliant Credit Union does not manage the operation or content of the website you are about to enter. Alliant Credit Union is not responsible for the content and does not provide any products or services at this third-party website. The privacy and security policies of the site may differ from those of Alliant Credit Union.