Buying a home for the first time comes with a lot of assumptions. About what it costs. About what you need to qualify. About how long it takes to be ready. Most of those assumptions are based on outdated information—things people heard from family, read in a headline, or calculated on their own without knowing all the options.

The result is that a lot of people who could be buying a home right now have decided they cannot. Here is where that thinking tends to go wrong.

"I Don't Have Enough Saved for a Down Payment"

This is the assumption that stops more first-time buyers than anything else. The 20% down payment idea has been passed around for so long that most people treat it as a rule. It is not a rule. It never was.

FHA Loans

FHA loans require as little as 3.5% down. On a $300,000 home, that is $10,500, not $60,000. For buyers with credit scores and income that qualify, this is often the most accessible path into homeownership.

Movement Boost

For buyers who do not have enough saved for a 3.5% down payment, Movement Boost can cover the entire 3.5% FHA down payment, with an additional 1.5% available to put toward closing costs. Some buyers are getting to closing having spent significantly less out of pocket than they thought possible. Movement Boost is available for first-time and repeat buyers nationwide, with the exception of New York.

Local Down Payment Assistance Programs

There is an entire category of programs most buyers have never heard of. Bond programs, down payment assistance programs, and Mortgage Credit Certificates are funded through local, state, county, and city agencies across the country. They exist specifically to help buyers in their area, and the eligibility requirements are broader than most people assume.

These programs vary by location, which is why most buyers only discover them in a conversation with a loan officer who knows what is available in their specific market. A lot of people who have ruled themselves out actually qualify.

VA Loans

For buyers who have served or are currently serving in the military, VA loans offer zero down payment with no private mortgage insurance required. A lot of eligible veterans and service members either do not know the full scope of what they have earned or assume the process is more complicated than it is. If military service is part of your story, this is one of the most powerful financing options available and worth understanding before you assume you need to save for a down payment at all.

USDA Loans

USDA loans offer 100% financing with no down payment required for buyers purchasing in eligible areas. The geographic range includes many suburban communities and small towns, not just remote farmland. If you are open to areas outside major city centers, this could be one of the most powerful options available to you—and one of the least talked about.

"Rates Feel Too High Right Now."

Rates have moved around a lot over the past few years, and waiting for them to drop to a specific number before buying is a strategy that has kept a lot of buyers on the sidelines longer than they intended. As of late June 2026, the 30-year fixed rate averaged 6.49%, lower than the 6.77% average from this same time last year and well below the 7.79% peak reached in October 2023. (Freddie Mac) No one can predict where rates go next, and most experts are not forecasting a dramatic decline anytime soon.

What buyers can control is the payment structure. A seller-paid temporary buydown can lower the payment for the first one to three years of the loan. When a seller or builder covers the cost—which is increasingly common in today's market—that relief comes at no extra cost to the buyer. And if rates do come down during that period, refinancing into a lower rate is always an option.

Waiting for the perfect rate is a moving target. Structuring the loan to work at today's rate is something a buyer can actually act on.

"I'm Self-Employed, a Freelancer, or Do Gig Work. I Probably Won't Qualify."

Standard mortgage programs want W-2s and two years of consistent employment history from the same employer. For someone whose income comes from clients, contracts, platforms, or multiple sources, that requirement can feel like a wall.

It does not have to be.

Non-QM loan programs exist specifically for borrowers whose income does not show up neatly on a tax return. Bank statement loans, for example, qualify buyers based on actual deposits rather than what a tax return shows after deductions. Asset utilization and 1099 income are also accepted documentation paths.

The assumption that self-employment makes homeownership out of reach is one of the most common—and most fixable—misconceptions a loan officer encounters. The path looks different, but for most self-employed buyers it exists.

"I Make a Moderate Income. I'm Not Sure a Conventional Loan Is in Reach."

A lot of buyers assume conventional financing is only for people who earn well above average or have significant savings. That assumption leaves a wide range of creditworthy buyers on the sidelines.

Fannie Mae HomeReady and Freddie Mac Home Possible and HomeOne were created specifically for low to moderate income buyers who have steady income and good credit but may not have a large down payment or high earnings. Down payments as low as 3%, more flexible income guidelines, and options that recognize creditworthy buyers come in more situations than traditional programs account for.

These programs exist because the conventional market recognized that standard guidelines were leaving real buyers behind. If your income feels like the barrier, it may not be.

"I'm a Medical Professional With Significant Student Debt. My Debt-to-Income Is Too High."

Years of school and residency mean the income potential is there, but so is a significant amount of student debt. Most mortgage programs look at that debt load and pump the brakes.

Movement Medical is built specifically for this situation. Up to 100% financing with no mortgage insurance required. For eligible borrowers in residency or fellowship, deferred or income-based student loan payments may be excluded from the debt-to-income calculation entirely. And if you have a signed employment contract with a start date up to 150 days out, you may be able to qualify before your first paycheck arrives.

The program is open to MDs, DOs, dentists, pharmacists, veterinarians, CRNAs, and residents, fellows, and interns. If you assumed student debt would hold you back from buying a home, it may not have to.

"I'm Ready to Start Looking but I'm Afraid Rates Will Go Up Before I Close."

For a first-time buyer who is not yet under contract, the idea of starting a search without knowing what rate they will end up with could be anxiety-inducing.

Lock and Shop lets buyers lock their rate before they find a home, with no purchase contract required to get started. That means a buyer can search knowing exactly what their rate is, without the uncertainty of watching it change while they look. In a market where conditions may not stay as favorable as they are today, that certainty removes one of the most common reasons first-time buyers stall out.

Homeownership Starts With the Right Guidance

Every assumption above leads to the same outcome: a buyer who decides not to start because they are certain the answer is no.

The assumption that self-employment disqualifies you. The belief that a moderate income closes the door on conventional financing. The idea that you need tens of thousands saved before you can even have a conversation. None of those assumptions hold up once a buyer actually talks to a loan officer.

The right question is not "how high are rates right now?" The right question is "what options exist for my specific situation?" That question has a real answer, and for most first-time buyers, that answer is more encouraging than they expected. Fill out the form below, and let's talk.