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A quick form is all it takes to check your eligibility for down payment assistance, first-time buyer programs, and special financing — no credit impact.
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STILL NOT SURE?
Kindred Mortgage — First-Time Homebuyer FAQ
Find answers to our most frequently asked questions here.
Kindred Mortgage — First-Time Homebuyer FAQ
Do I need 20% down to buy a home?
Nope! That’s a myth. You can buy with as little as 3% down (conventional) or even 0% down with VA or USDA loans. Some programs even help cover your down payment.
Are there programs to help with the down payment?
Yes! Many state and local programs offer grants or forgivable loans to cover part (or all) of your down payment and closing costs. You don’t have to be low income or a first-time buyer to qualify with Kindred Mortgage.
Can I get help even if I’ve owned a home before?
Absolutely. Most people qualify again if they haven’t owned a home in 3 years — and some programs have no ownership restriction at all.
Credit & Approval
What credit score do I need to buy a home?
Many buyers qualify with a 580 credit score or higher. We even have programs for lower scores — so don’t assume you’re out just because your credit isn’t perfect.
Will checking my Buying Power hurt my credit?
Not with Kindred Mortgage. We use a soft credit pull — no Social Security number, no hard inquiry. You can safely check what you qualify for.
I have student loans or debt — can I still get approved?
Yes. Lenders just look at your debt-to-income ratio (DTI) — how much debt you have compared to your income. We’ll help you structure it so you can still qualify.
Income & Employment
I’m self-employed or work on 1099 — can I still buy a home?
Definitely. We have bank statement and no-income-documentation loan options for business owners, freelancers, and gig workers.
What if I just started a new job?
If it’s in the same line of work or a strong position, you can usually still qualify. Some programs even accept offer letters as proof of income.
Loan Types & Costs
What’s the difference between FHA, VA, and Conventional loans?
• FHA = Great for lower credit & small down payments (3.5% down).
• VA = For veterans & active military (0% down).
• Conventional = For buyers with stronger credit (3%–5% down).
What are closing costs?
They’re the fees to finalize your loan — usually 2%–5% of the home price. Some DPA programs help pay these, and you can sometimes ask the seller to cover part.
Can I use gift money for my down payment?
Yes, many loans allow gift funds from family to help you qualify.
Timing & Process
How long does it take to close on a home?
Usually 20–30 days from application to keys — faster if you’re pre approved and have your documents ready.
When should I get pre approved?
Before you start house hunting. It helps you know your price range and makes your offer stronger when you find a home you love.
What happens after I apply?
We’ll verify your info, review your credit and income, and match you with the best loan program. You’ll get your Buying Power Score and a preapproval letter.
Rates & Refinancing
Should I wait for rates to drop?
Not necessarily. You can always refinance later, but home prices are still rising. Buying now locks in your price before homes get more expensive.
Can I refinance after I buy?
Yes — anytime! Most people refinance when rates go down or they’ve built equity.
Eligibility & Location
Are these programs only for certain states?
Kindred Mortgage offers programs in multiple states, including Georgia, Florida, and California, with access to local down payment programs in each area.
What if I want to buy a condo or townhouse?
Most programs allow both — some even allow manufactured homes or multi-unit properties if you live in one unit.
Communication & Support
Who will I be working with during the process?
You’ll have a dedicated loan officer and support team — we keep everything transparent, and you’ll get text updates every step of the way.
What if I’m not ready to buy yet?
That’s okay! We’ll still run your Buying Power Score and give you a custom plan so you know what to work on for the future.
Final Section – Quick Confidence Boost
I feel nervous about the process — where do I even start?
Totally normal! Just start with your Buying Power Check — it’s fast, free, and doesn’t affect your credit. Once we see where you are, we’ll show you exactly what steps to take next.
