Top Mortgage Programs for First-Time Homebuyers in 2025

By Eric Jurmo

From Saving Homes to Selling Them. As a Detroit Firefighter, Eric Jurmo spent many years saving homes and lives. Injured in the line of duty, he had to find a new profession. What he found was a new passion: Real Estate.

If you’re looking to buy your first home in 2025 with minimal upfront costs, I’ve got some helpful insights for you. I recently spoke with Keith Kampe, a sales manager at Flagstar Bank, where we discussed several mortgage options for first-time homebuyers.

Keith shared details about programs offering down payment assistance. These include options for no down payment and others that provide up to $7,500. We also talked about options for first-time homebuyers and self-employed buyers, as well as professional mortgage programs, and strategies for buying a home before selling.

This interview provides valuable tips on how these programs can assist with home buying and make homeownership more accessible. Watch the entire video or use the timestamps to dive right into the topics that matter most to you.

00:00 – Introduction

00:08 – Meet Keith Kampe & Flagstar Bank

00:20 – Best Mortgage for First-Time Buyers

01:10 – Flagstar Gift Program: $7,500 Assistance

01:39 – Using Gift Money for Homebuying

02:01 – Buying Down Interest Rates

02:32 – MSHDA Down Payment Assistance

03:01 – MSHDA Loan Terms & Repayment

03:35 – Choosing the Best Program

03:41 – MSHDA Class Requirements

04:13 – Self-Employed Homebuyers: Mortgage Challenges & Solutions

04:22 – Flagstar’s Bank Statement Loan Program for Self-Employed Buyers

04:47 – Alternative Loan Options: Business Bank Statement Analysis

05:14 – Using Recent Business Income for Mortgage Approval

05:54 – Mortgage Programs for Medical & Professional Careers

06:13 – Zero Down & No PMI Loans for Professionals

07:37 – Mortgage Solutions to Buy Before You Sell

08:35 – Avoiding a Contingency with Gifted Funds

08:48 – How Re-Amortization Works

10:06 – Special Loan Programs for Professionals

10:30 – Final Thoughts and Next Steps

I hope you gained some practical insights from our conversation. If you’re ready to take the next step or have any questions, feel free to call me at 586-713-8524 or email me at eric@soldbyericteam.com. I’m here to guide you through the home-buying process.