First Time Home Buyer Loan Solutions

Couple Applying for Their First Home Mortgage

Transparent mortgage guidance for your first home purchase.

Buying your first home is exciting — and we’re here to make the process simple, clear, and stress-free. Whether you’re just starting to explore your financing options or ready to get pre-approved, ProVisor will guide you from application to closing with confidence.

 

There are multiple mortgage loan programs ProVisor can discuss with you:

 

FHA Loans

FHA loans are known to many as one of the best first-time mortgage loans and are backed by the federal government. FHA loans tend to be easier to qualify for and involve incentives, zero to low down payment options, and allow for fair credit. The downside of these loans is higher costs overall, such as private mortgage insurance (PMI).

Key Points:

  • Known to many as one of the best first-time mortgage loan options
  • Backed by the federal government
  • Easier qualification requirements
  • Incentives + zero to low down payment options
  • Allows fair credit borrowers to qualify
  • Often includes private mortgage insurance (PMI), increasing total cost

Conventional Loans

Conventional loans tend to be chosen by those with good or excellent credit and/or a large down payment. These loans tend to be cheaper than FHA, though they have a higher barrier of entry. ProVisor can discuss the benefits of a Conventional loan for your home!

Key Points:

  • Best for good or excellent credit profiles
  • Ideal for buyers with a larger down payment
  • Can be cheaper long-term compared to FHA loans
  • Higher qualification requirements (credit & down payment)
  • Great option if avoiding PMI with 20% down

USDA Loans

USDA home loans are available in rural and select suburban areas. For USDA loans, no down payment is needed, and they are available to borrowers with very low, low, and moderate income. You also can’t have a lot of debt. All USDA mortgages are 30-year fixed rate only.

Key Points:

  • Available for rural + some suburban properties
  • No down payment required for eligible buyers
  • Designed for low to moderate-income borrowers
  • Borrower must meet income + debt requirements
  • Only available as 30-year fixed loans

WHEDA Loans

Wisconsin Housing and Economic Development Authority, known as WHEDA, supports affordable housing for Wisconsin residents. WHEDA offers low and moderate-income homebuyers 30-year fixed loans with 0% down to begin and no minimum credit score reported. Reduced-cost or no mortgage insurance may also be available.

Key Points:

    •    Designed specifically for Wisconsin homebuyers

    •    0% down payment options available

    •    No minimum credit score reported

    •    Reduced or no mortgage insurance

    •    Great for low to moderate-income buyers

    •    30-year fixed loan terms

VA Loans

Active military personnel, veterans, and qualifying spouses may apply for VA home loans. VA loans require no down payment and often include lower rates than traditional mortgage programs, with no minimum credit score reported. Similar to FHA guidelines, but VA approval is required.

Key Points:

  • For Veterans, Active Duty & eligible spouse borrowers
  • No down payment required
  • Often lower interest rates compared to conventional
  • No minimum credit score reported
  • No PMI requirement → saves monthly cost
  • Requires VA eligibility

*WE ARE NOT OWNED, OPERATED OR AFFILIATED WITH THE VA OR THE FEDERAL GOVERNMENT IN ANY WAY.*

 

How to Buy Your First Home
Step-by-Step Process

1. Get Pre-Approved with ProVisor

This is your vital first step. Knowing your exact budget and having a pre-approval letter makes you a serious, qualified buyer in the eyes of sellers and realtors.

2. Find Your Realtor & Start Touring Homes

With your pre-approval secured, your realtor can immediately tailor your search and you are ready to make a competitive offer when the right home appears.

3. Make an Offer on the Home You Love

Work with your realtor to submit a strong offer, accompanied by your ProVisor pre-approval letter.

4. Formally Start Your Mortgage Plan with Your ProVisor LO

Once your offer is accepted, immediately contact your ProVisor Loan Officer (LO). They will convert your pre-approval into a formal application and initiate the necessary loan processing to meet the contract deadlines.

5. Schedule Inspection & Order Appraisal

These two critical steps happen concurrently. The home inspection ensures the property is structurally sound (for your peace of mind), and the appraisal confirms the home's value meets the lender's requirements.

6. Final Underwriting & Loan Approval Issued

Once all documents, the appraisal, and the inspection review are complete and approved by underwriting, you receive the official Clear to Close (CTC).

7. Final Walkthrough, Closing Day, & Move In!

Complete a final walkthrough to check the home's condition. Then, you sign the final documents, get the keys, and celebrate moving into your new home!

Start Your Home Buying Journey Today

Buying your first home is a major milestone — and you don’t have to figure it out alone. Whether you qualify for FHA, Conventional, USDA, WHEDA, VA, or another program, ProVisor is here to guide you step-by-step from pre-approval through closing day.We’ll review your goals, explain your loan options clearly, help you get pre-approved, and walk with you all the way to the closing table.

Your new home is closer than you think- Take the First Step

Choose how you’d like to begin:

🔹 Get Pre-Approved

🔹 Compare Loan Options

🔹 Talk With a Loan Officer

FREE Rate Quote   Apply Now