In September 2025, Yahoo Finance curated a list of the best mortgage lenders for first-time home buyers, focusing on benefits like down payment assistance and lender credits. Truist Bank stood out with its Community Homeownership Incentive Program, while NFCU excelled in interest rate protection for military members. TD Bank offered a broad selection of loan products, but only in limited states. Chase Bank boasted an abundance of online resources. Better Mortgage provided a full-service digital experience. Bank of America offered a suite of loan products and grants. Pennymac emerged as a top FHA lender. Citibank offered a 3% down payment program. Rate provided face-to-face service but scored low in customer satisfaction. U.S. Bank committed to offering down payment assistance for minorities.

For first-time home buyers, government-backed loans like FHA, VA, and USDA loans offer low down payment options. A 30-year mortgage term is recommended, and a 620 credit score is preferable. An FHA mortgage is relatively easier to get approved for due to lenient credit score requirements. Yahoo Finance’s methodology for scoring mortgage lenders includes factors like interest rates, affordability, loan costs, rate transparency, and online features. No advertiser or sponsorship influences ratings. Editorial disclosure clarifies that the information is accurate as of the publish date and advises checking the lender’s website for the most current information.

Read more at Yahoo Finance: Best mortgage lenders for first-time home buyers of September 2025