Buying your first home is both exciting and overwhelming. In 2025, the housing market continues to pose challenges with rising prices, stricter credit requirements, and financial uncertainty for many buyers. That’s why choosing the right mortgage lender can make or break your homeownership journey. A good lender won’t just provide a loan; they’ll guide you with resources, programs, and assistance tailored to first-time buyers.
This guide highlights the best mortgage lenders for first-time home buyers in August 2025, based on loan options, customer satisfaction, special programs, and affordability. Whether you’re seeking low down payments, military benefits, or quick online approvals, we’ve got you covered.
| Lender | Best For | Key Benefits | Need to Know |
|---|---|---|---|
| Truist Mortgage | Overall first-time buyers | Low/no down payments, lender credits, medical professional perks | Below-average satisfaction scores |
| Navy Federal Credit Union | Military-connected borrowers | Rate protection, VA loan alternatives, $1,000 rate match guarantee | Membership limited to military families |
| TD Bank Mortgage | Wide loan options | Broad loan products, fee discounts, strong borrower education | Only available in 15 states + DC |
| Chase Bank | Online resources & tools | Dozens of calculators, $5,000 fast-closing guarantee, VA credits | Advertised rates assume high credit & large down payments |
| Better Mortgage | Quick digital loan approval | 24-hour loan commitments, fast closings, bundled digital services | Rates assume 20% down + excellent credit |
| Bank of America | Customer satisfaction & grants | Up to $17,500 in assistance, high satisfaction, medical programs | Programs vary by state, linked to existing customer accounts |
| Pennymac | FHA loan borrowers | Nation’s 2nd-largest FHA lender, $1,000 credit, cash-back incentives | Below-average satisfaction ranking |
| Citibank | Closing cost grants | 3% down, no PMI, $7,500 lender assistance | Rates include discount points, stricter requirements |
| Rate (Guaranteed Rate) | Online & face-to-face service | Same-day approval, non-qualified mortgages, branch service | Customer satisfaction rated below average |
| U.S. Bank | Minority & underserved borrowers | $100M toward minority ownership, up to $12,500 assistance | Advertised rates assume 25% down + 740 FICO score |
Best Overall First-Time Buyer Lender: Truist Mortgage
Truist Mortgage stands out for its strong support programs, making it one of the most beginner-friendly lenders.
Key Benefits:
- Community Homeownership Incentive Program: Provides low or no down payments, lender credits, and no mortgage insurance for qualified borrowers.
- Special perks for medical professionals: Includes waived mortgage insurance and exclusion of student loans from debt-to-income (DTI) ratios.
Need to Know:
- Rates often include one discount point by default, so borrowers should adjust based on preferences.
- Customer satisfaction scores are below average compared to peers.
Best Lender for Military-Connected Borrowers: Navy Federal Credit Union
If you are active-duty, a veteran, or a military family member, Navy Federal Credit Union (NFCU) is the top pick.