Top Banks for First-Time Home Buyers in 2023

US Bank stands out for its first-time homebuyer assistance programs, which often include reduced down payment options and closing cost assistance. Their focus on financial education and mortgage counseling helps novice buyers navigate the purchasing process more knowledgeably.

• Largest bank in the United States by assets

• Comprehensive banking solution with a wide presence

• Combines traditional and modern services

• Allows managing everything in one place

Chase Bank stands out in this ranking for its first-time homebuyer assistance programs, which often include help with down payments and closing costs. Its extensive branch network and online resources also simplify the process for new homeowners.

• Simplicity and transparency

• Strong commitment to customer satisfaction

• Offers an incentive of up to $500 for new customers

• Competitive rewards programs

Capital One stands out in this ranking for offering a variety of mortgages tailored for first-time homebuyers, including options with low down payments and down payment assistance programs. Their streamlined application process and available educational tools help new buyers navigate the complex housing market.

• Second Most Trusted Bank in 2025

• Ranks Highest in Overall Satisfaction for the Fifth Consecutive Year

• Outperformed the Industry Average in U.S. Credit Card Satisfaction

• Ranked First in Online Banking

Citibank stands out in this ranking for offering programs and resources specifically designed for first-time homebuyers. Its commitment is reflected in educational tools and financing options that facilitate homeownership.

• Customer recognition

• Strong commitment to customer satisfaction

• Competitive rewards programs

• Offers up to $325 as a bonus

PNC Bank offers specific programs and resources tailored for first-time homebuyers, such as down payment assistance and financial education. Their streamlined application process and dedicated loan officers help novice buyers navigate the complexities of homeownership.

• Reinforces its reputation as a payment innovator

• Generates positive feelings among its customers

• Commitment to customer satisfaction

• Has received accolades for customer satisfaction in previous years

SunTrust Bank stands out in this ranking for its dedicated first-time homebuyer assistance programs, including grants and low down payment loans. Their streamlined application process and personalized mortgage counseling help novice buyers navigate the complexities of homeownership.

• Truist offers assistance to simplify the process

Bank of America provides specific programs and resources tailored for first-time homebuyers, such as down payment assistance and closing cost support, making it easier to enter the housing market. Their focus on financial education and personalized support helps novice buyers navigate the complex process of purchasing a home.

• Utilizes innovative technology to meet customer needs

• Offers programs such as 'Preferred Rewards'

• Provides better returns on savings

• Offers interest rate discounts on auto or mortgage loans

Wells Fargo stands out for offering a variety of assistance programs for first-time homebuyers, including reduced down payment options and grants. Its extensive reach and resources help guide buyers through the complex home-buying process.

• Offers useful and accessible products

• Generates complete satisfaction

• Launched a major change to widespread acclaim

• Customers show notable satisfaction with the mobile app

Guaranty Bank stands out for offering mortgage programs specifically designed for first-time homebuyers, including low down payment options and expert advice. Their commitment to financial education and a simplified application process make it an ideal choice for those taking their first steps in homeownership.

• Competitive interest rates

• Streamlined application process

• Personalized mortgage advice

• Flexible payment options

Quicken Loans stands out as a top lender for first-time homebuyers in 2023 due to its innovative online application process and commitment to transparency. They offer tools and resources designed to simplify the mortgage experience, which is particularly valuable for those purchasing their first home.

• Allows for equipment upgrades or home renovations

• Personalized mortgages and conditions tailored to your needs

• Fixed interest rate for the entire life of the loan

• Apply for your mortgage 100% online