First Time Home Buyer Programs

There are still many great First Time Home Buyer Programs available today, many with zero down payment. 

Most programs require that the borrower have at least decent credit, and must have a stable job with documentable income.

Also, always make sure you're working with a great real estate agent. Because down the road if you decide to sell your home with House Buyers Cash, it's always easier to work with the agent who helped you find it in the first place.

Here is a breakdown of things you need to be prepared for to qualify:

Income and Job History

You must have stable income that can be documented. This means 2 years in the same line of work with no significant unexplainable gaps. If you are a W2 employee of a company, you will need to supply 2 years W2s as well as 30 days worth of paystubs. If you receive commission income or bonuses, the lender will take a 2 year average of those amounts for qualifying.

Self-employed individuals will have to supply 2 years of tax returns, and the underwriter will use a 2 year average of bottom-line income (after expenses) to qualify you.

We can help you determine if you have enough income to qualify and how much home you can afford.


Even if you are applying for a First Time Home Buyer Program that requires no down payment, you will need to have money for closing costs, unless you are working with a seller who has agreed to pay your closing costs. Some lenders will also require a month or two worth of mortgage payments for a reserve account.


Generally speaking, your credit score must be above 620 for most programs, and you must have a clean credit history for the past 12 months. If your score is below 620, we can help you with tips on how to improve it, and we have several lenders who are still offering financing with scores below 620. First Time Home Buyer Programs require that you are at least 2 years out of bankruptcy if you have filed, and 3 years past a foreclosure in order to qualify.

Common First Time Home Buyer Programs

Some of the more common First Time Home Buyer Programs are: FHA (3.5% down payment), VA (0% down payment), and USDA (0% down payment).

There are also down payment assistance grants that can help if you don't have enough for a down payment.  The most common one is CHFA which stands for Colorado Housing Finance Authority.

The RJ Baxter Team is known for our same-day pre-approvals and is a top First Time Home Buyer Mortgage Lender. Find out fast what you qualify for by talking to one of our home loan professionals.

Lakewood & Denver First Time Home Buyer Mortgage

To learn more about first time home buyers mortgages in Lakewood & Denver call us by phone on 303-670-0137 or via email at The RJ Baxter team is your trusted Lakewood and Denver mortgage lender and loan officer near you.


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