Your First Home Is Closer Than You Think.
Specialized programs with lower down payments, down payment assistance, and reduced rates — designed to make homeownership accessible for qualifying first-time buyers.
As Low As 0–3%
Min. Down Payment
Up to $35,000+
Down Payment Assistance
As Low As 580
Credit Score
Vary by Program
Income Limits
Overview
We Help First-Time Buyers Cross the Finish Line
Buying your first home is one of the biggest financial milestones of your life — and the system can feel overwhelming. Between saving for a down payment, understanding credit requirements, and navigating the application process, the barriers can seem insurmountable. That's exactly why first-time buyer programs exist.
At Lumen Mortgage, we specialize in identifying every first-time buyer program you qualify for — from Fannie Mae HomeReady to FHA to state and local down payment assistance grants — and walking you through a side-by-side comparison so you choose the option that gets you into your home fastest at the lowest possible cost.
Who This Is For
Key Features
What Makes This Program Work
Down Payment Assistance
We work with state and local DPA programs that can provide up to $35,000+ in grants or deferred-payment second mortgages to cover your down payment and closing costs.
Below-Market Rates
Programs like HomeReady and Home Possible offer pricing advantages — including reduced PMI costs — for low-to-moderate income buyers.
Low Down Payment
Conventional first-time buyer programs start at 3% down; FHA starts at 3.5%; VA and USDA programs offer zero-down options for eligible buyers.
Homebuyer Education
Many DPA and preferred rate programs require a short online homebuyer education course. We'll point you to the right resource — it's often free and takes only a few hours.
Credit Flexibility
First-time buyer programs paired with FHA financing accept credit scores as low as 580. We also offer credit counseling guidance to help you qualify faster.
Paired Programs
Many buyers qualify for multiple layered programs simultaneously — such as a HomeReady loan + local DPA grant + county closing cost assistance.
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Requirements
General Qualifications
Ready to See If You Qualify?
Every borrower's situation is unique. Give us 15 minutes and we'll review your financial picture, identify every program you qualify for, and walk you through your options — at no cost and with no obligation.
Licensed in Oregon & California · NMLS #1498678
FAQ
Common Questions
From the Blog
Further Reading
OregonOregon First-Time Homebuyer Programs You May Not Know About
Oregon has several programs specifically designed to help first-time buyers get into a home with less money down and better rates. Here's what's available and how to qualify.
First-Time BuyersWhat Credit Score Do You Need to Buy a Home in 2026?
Your credit score is one of the first things lenders look at — but the minimum varies by loan type. Here's a clear breakdown of what's required and how to improve your score before you apply.
Loan TypesFHA vs. Conventional Loans: Which Is Right for You?
These two loan types cover the majority of home purchases in the U.S. — but they work very differently. Here's a side-by-side breakdown to help you make the right call.
What Our Clients Say
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Ready to Get Started?
Our loan officers will review your scenario, walk you through your options, and guide you from application to close — with full transparency at every step.