We work with a variety of loan options, including FHA, VA, and USDA loans, to ensure that you receive the best terms possible. Whether you need help with closing costs, credit guidance, or understanding your mortgage options, our team will walk you through every step of the process.
Buying your first home is a big milestone—and GWFR Lending is here to make it easier. Our First-Time Buyer programs are designed to guide you through every step of the home buying process with competitive rates, low down payment options, and personalized support. Whether you’re just starting your search or ready to make an offer, our expert lending team will help you secure the right mortgage solution for your needs. Discover how GWFR Lending can simplify your path to homeownership and help you buy with confidence.
FHA home loans are mortgage loans that are insured against default by the Federal Housing Administration (FHA). FHA loans are available for single family and multifamily homes. These home loans allow banks to continuously issue loans without much risk or capital requirements. The FHA doesn’t issue loans or set interest rates, it just guarantees against default.
FHA loans allow individuals who may not qualify for a conventional mortgage obtain a loan, especially first time home buyers. These loans offer reasonable credit expectations, and flexible income requirements.
A conventional loan is a type of loan that doesn’t have government backing or insurance, unlike FHA, VA, and USDA loans, which are insured by the government. Conventional mortgage loans, whether conforming or non-conforming, usually require a slightly larger down payment than some government loans. However, conventional loans offer more flexibility and fewer restrictions for borrowers, especially those borrowers with good credit and steady income.
If you dream of owning a home in a peaceful, rural, or suburban setting, a USDA home loan could be the perfect financing option for you. Backed by the U.S. Department of Agriculture, USDA loans provide 100% financing, meaning no down payment is required. These loans also offer below-market interest rates and reduced mortgage insurance costs, making homeownership more affordable for low-to-moderate-income families.
A 203k loan is a special type of mortgage that allows you to purchase or refinance a home and roll the cost of repairs or renovations into one loan. Ideal for buyers looking at fixer-uppers or homeowners wanting to update their property, 203k loans simplify financing by covering both the purchase price and the cost of improvements.
Instead of taking out separate loans for buying and fixing up a home, a 203k loan bundles everything into a single mortgage. Whether you’re making minor updates or major structural repairs, this loan provides the funds you need upfront, helping you transform a property into your dream home.
Designed for veterans and active-duty service members, VA loans offer excellent benefits, including no down payment and competitive rates.
The Veterans Administration provides insurance to lenders in the case that you default on a loan. Because the mortgage is guaranteed, lenders will offer a lower interest rate and terms than a conventional home loan. VA home loans are available in all 50 states. A VA loan may also have reduced closing costs and no prepayment penalties.
It replaces your current mortgage with a new loan that has a higher balance, using the extra funds to pay off your debts.
When you begin the mortgage pre-approval process, lenders typically perform a soft credit pull to give you an idea of what you might qualify for—this does not affect your credit score. However, once you move forward with a full mortgage application, a hard credit inquiry is required, which may have a small, temporary impact on your score. At GWFR Lending, we guide you through every step and only proceed with credit checks when you’re ready, so you can make informed decisions with confidence.
Not necessarily! Many first-time home buyer programs are designed to be accessible, even if your credit score isn’t perfect. In fact, some programs accept scores as low as 580, especially if you’re using an FHA loan. While a higher score can unlock better rates and terms, GWFR Lending specializes in helping buyers at all credit levels find the right path to homeownership. We’ll work with you to explore options that match your unique financial picture.
© 2025 All Rights Reserved
