Your First Home Starts Here - Las Vegas Loan Programs

Your Path to Homeownership Starts Here 

Buying your first home is a milestone worth celebrating, and The Maltese Group is here to help you get there. If you're a first-time homebuyer in Las Vegas, you're not alone. Many residents across zip codes like 89117, 89135, Summerlin, North Las Vegas, and Henderson are exploring their options to purchase a home affordably and confidently. Our team provides personalized support and access to multiple programs that make owning your first home a reality, not just a dream.

We understand that entering the housing market for the first time can be overwhelming. That's why we simplify the process with clear guidance, tailored loan options, and expert support every step of the way.

What Is a First-Time Homebuyer Loan?

First-time homebuyer loans are specifically designed to help individuals who have never owned a home or haven’t owned one in the past three years. These programs often offer lower down payments, reduced mortgage insurance, and flexible credit requirements.

Federal options such as FHA loans, USDA loans, and VA loans (if you're eligible) are often ideal starting points. Conventional options like the HomeReady or Conventional 97 programs also support new buyers. Additionally, Nevada offers statewide down payment assistance programs that can make a big difference when you're trying to purchase your first home.

Benefits of First-Time Buyer Loans

Low or Zero Down Payment Options

Programs like FHA (3.5% down), VA (0% down), and USDA (0% down) help buyers purchase with minimal upfront investment.

Reduced Interest Rates and Monthly Payments

Many programs allow interest rate reductions or provide options to buy down rates at lower costs, saving thousands over time.

Easier Credit Qualification

Some loans accept scores as low as 580. Others may accept lower with strong compensating factors like high income or large reserves.

Lower Mortgage Insurance Costs

Compared to standard private mortgage insurance (PMI), options like HomeReady and FHA provide more affordable insurance coverage.

Flexible Income Guidelines

Some programs allow non-occupant co-borrowers, factor total household income, or use relaxed documentation requirements for self-employed borrowers.

Who Qualifies as a First-Time Homebuyer?

You might be considered a first-time homebuyer even if you’ve owned property in the past. The standard definition includes:

• Not owning a home in the past 3 years
• Divorcees or those separated from a spouse who previously owned the home
• Buyers who have only owned investment properties or inherited property they didn’t reside in

Our loan advisors at The Maltese Group can quickly confirm your status and eligibility.

Available Loan Programs for First-Time Buyers

FHA Loans

Backed by the Federal Housing Administration, FHA loans require just 3.5% down and accept credit scores as low as 580. These loans offer flexible debt-to-income (DTI) ratio guidelines and lower barriers to entry.

VA Loans

For eligible veterans, service members, or surviving spouses, VA loans provide 100% financing, no PMI, and competitive rates. They’re one of the best options for military families.

USDA Loans

For buyers in qualifying rural and suburban areas of Nevada, USDA loans offer 0% down and income-based eligibility.

Conventional 97 and HomeReady

These conventional programs require just 3% down and offer reduced PMI rates, competitive interest rates, and flexible income limits.

Nevada Housing Division DPA

State programs offer grants and forgivable loans to help cover down payments and closing costs. These can be layered with other loan types for even more support.

Understanding Closing Costs and Down Payments

What Are Typical Costs?

Expect around 2% to 5% of your home’s purchase price for closing costs, including origination fees, title insurance, and appraisal.

Down Payment Misconceptions

You do NOT need 20% down to buy a home. With programs starting at 0% to 3.5%, and state grants available, your true cash requirement could be very low.

Gift Funds and Seller Credits

Family gifts, employer assistance, and seller credits can help cover costs. Our team will walk you through all approved options.