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First-Time Homebuyer: What Type of Mortgage Is Best for Me?

C Spaker
Christopher Spaker, AMP
President, CNB Mortgage Company
[email protected]
(585) 385-2370 x50955


I'm a first-time homebuyer, and I don't have a lot of cash to put down on a house. What type of mortgage would be best for me?


If you are a first-time homebuyer and don't have a lot of money for a down payment on a home, you may want to consider obtaining a mortgage through a government mortgage lending program such as those offered through the Federal Housing Administration (FHA) and the Department of Veterans Affairs, formerly known as the Veterans Administration (VA). Generally, these types of mortgage programs are an excellent choice for first-time homebuyers with moderate incomes, because the interest rates are set below current rates and little or no down payment is required. Consult your mortgage lender to see if you are eligible for either an FHA or VA mortgage.

In addition to government mortgage lending programs, many mortgage lenders offer special programs for first-time homebuyers that require little or no down payment. Shop around and compare the mortgage rates and terms that various lenders offer to find a mortgage that is geared toward first-time homebuyers. 

A CNB Mortgage Loan Originator is always available to discuss programs and options available to fit your specific need as a first-time homebuyer. Contact one today: Pittsford (585) 385-2370, Canandaigua (585) 394-9100 

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Source: ©2016 Broadridge Investor Communication Solutions, Inc. This material provided by Christopher R. Spaker, AMP.

Home Town Funding d/b/a CNB Mortgage Company - Licensed New York Mortgage Banker, NYS Department of Financial Services, NMLS ID 213408

CNB Mortgage Company is a wholly owned subsidiary of Canandaigua National Bank & Trust.