Best mortgage lenders for first-time homebuyers in May 2026

With elevated interest rates, limiting housing stock and existing owners staying put, buying a house has never been more challenging. First-time buyers need flexible down payment options, generous grants and excellent customer service. CNBC Select has chosen the best mortgage lenders for new buyers across various categories, including borrowers with poor credit, military families and buyers looking to close quickly. For more information on how we made our selections, see our methodology . Talk to us We want to hear your story. Do you have a financial success, goal or stressor you're comfortable sharing with a reporter? Please fill out this quick form . Best mortgages for first-time homebuyers Best for low down payments: Rocket Mortgage Who's this for? You can put 1% down with the ONE+ loan by Rocket Mortgage . You won't have to pay for private mortgage insurance with this product, making it an excellent option for qualifying first-time homebuyers who haven't saved up much for a down payment. Standout benefits: If you purchase your house through the Rocket Homes network, you may be eligible for a 1.25% rebate on closing costs, up to $10,000. Conventional, FHA, VA, HomeReady, Home Possible, Rocket ONE+, jumbo, refinancing, home equity loan 10-, 15- and 30-year fixed-term conventional loans, 30-year VA and FHA loans, custom mortgages with fixed-rate terms from 8 to 29 years. …