First Time Home Buyer Loans

If you’re a first-time home buyer looking for a home loan, we’re here to help!

Gulf Coast Bank Home Loans offers mortgage loans for first time home buyers in areas we serve including metro New Orleans & Baton Rouge as well as Florida & Texas.

Click here to find a loan officer near you

Buying Your First Home

One of the favorite parts of our job is helping someone buy their first home! Clients often tell us they feel a wide range of emotions during the process ranging from doubts about being about to buy a home to questions about the process and finally the pride and joy of closing and moving into their very own home!

Having lots of questions is a normal part of the process. Please get in touch with a loan officer near you to answer your initial questions and find out your options.

Home Loan Programs for First Time Buyers

Mortgage lenders are committed to helping people buy their first home. That’s why there are a number of programs specifically designed to accommodate buyers with:

  • Low & no-down payment options
  • Flexible credit score requirements
  • Grants & down payment assistance
  • Purchasing rural property

FHA, VA & USDA are popular options for first time home buyers in addition to conventional loans for well-qualified buyers.

Please note that lending guidelines for these programs change regularly. We recommend contacting a loan officer near you to find out which programs you may qualify for.

2 Tips for First-Time Home Buyers

It’s ok to feel a bit overwhelmed when you’re starting the process of buying a home! Here are a few tips that may help:

#1 - Know Your Down Payment Options

There are a lot of down payment options available to first time home buyers and many of them do not require a 20% down payment. It’s a good idea to explore state and local down payment assistance options as well as researching options for soft second mortgages from local governments.

Low or no-down payment program guidelines vary from state to state. Contact one of our loan officers to explore what options are available in your area.

Even if you qualify for a low or no-down payment home loan, you’ll want to have some additional savings when you own a home.

Your mortgage loan may require a certain amount of cash in reserves in order to close the loan. Plus, owning a home means being prepared for maintenance and upkeep expenses as well as the unexpected improvements or repairs which may be needed.

#2 - Know Your Buying Power

It’s always a good idea to find out exactly how much of a home you can comfortably afford BEFORE you start looking for the perfect home in the perfect location.

We have a number of helpful mortgage payment calculators available on our site which make a great place to start.

However, nothing beats a pre-qualification letter from one of our mortgage loan officers!

During the pre-qualification process, we’ll run a credit check and calculate your income in order to estimate your mortgage payment options. We’ll have a chance to discuss tax and insurance ranges in the areas you’re looking at as well as local lending options.

House shopping as a pre-qualified buyer means your offers will be taken seriously by sellers!

Do you have any questions?

Gulf Coast Bank Home Loans has branches in metro New Orleans and Baton Rouge as well as Loan Production Offices in Florida & Texas.

If you are ready to get started, you can pre-qualify today. 

Pre-qualify Now