First-Time Homebuyer Programs

So, you’re ready to buy your first home. Hold on tight, you’re in for the most exciting ride of your life! 

The road to homeownership has its twists and turns, but we’re here to be your guide. You’ve got the green light; we’ll put the pedal to the metal and get you into your new home fast.

As a first-time homebuyer, you may be eligible for additional benefits that will leave you with a little extra cash.

Some of the affordable home loan programs we offer include:

  • HomeReady Mortgage®

    • Down payment as low as 3% for primary residence
    • Flexible income requirements
    • 30 year fixed-rate mortgage
    • Lender paid PMI program available
    • Can accommodate a variety of down payment assistance programs

    Borrower must complete an accredited home ownership course to qualify.

    Income restrictions may apply.

  • FHA Mortgage

    • Down payment as low as 3.5%
    • No income restrictions
    • Financing for up to four family property
    • Terms up to 30 years
    • Renovation loans are available
    • Can accommodate a variety of down payment assistance programs
  • One-Rate Mortgage

    • Down payment as low as 3%
    • Competitive rates are available
    • Can accommodate a variety of down payment assistance programs

    The One Rate product is available only in the following counties in New Jersey: Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union, Warren. Income restrictions may apply. Subject to credit approval.

  • First Home Club

    Do you need down payment assistance in purchasing your first home? Who doesn’t?

    You may qualify for up to $7,500 in down payment and closing cost assistance!

    We have partnered with the Federal Home Loan Bank of New York and are pleased to offer down payment and closing cost assistance to qualified first-time homebuyers who reside in, and are looking to purchase a home in New Jersey or New York.

    Learn More

Get Started

To learn more or get started on any of our first-time homebuyer programs, please contact one of our Mortgage Representatives.

What people are saying

As a first-time homebuyer, Lakeland Bank's expertise and willingness to ensure understanding of intricate details was extremely valuable. While the process wasn't without its hurdles, we could rest assured that our best interests were in mind and that Lakeland Bank had our back.

Caitlin & Ken B.

Watch their story