First-time homebuyer loans: Best options and how to qualify

Fox Money, a personal finance hub by Credible Operations, Inc., offers content independently from Fox News Media. First-time homebuyers face challenges like saving for a down payment and navigating the buying process. Various first-time homebuyer loans are available, including FHA, VA, USDA, conventional, FHA 203(k) renovation loans, and region-specific options. Qualifications typically include a minimum credit score of 620 and a down payment of 3%. Lenders assess credit score, down payment, debt-to-income ratio, and other eligibility requirements.