A veteran first time home buyer has unique opportunities to buy real estate because of the many benefits offered by military mortgage programs. These benefits include a zero down payment option, a waiver of the private mortgage insurance requirement and lower interest rates than those available to non-veteran borrowers. Various lenders also offer special financing packages for veterans.

The most important step is to find a reliable mortgage lender who can help with the process. There are companies that well-versed in military loan programs and can make the process easier for a new homebuyer. It's also helpful to work with a real estate agent who is familiar with veteran mortgage options. This way, a knowledgeable agent can explain any fees and charges that are associated with the transaction.

Most veterans are eligible to use the VA loan program, which offers a number of exclusive benefits, including no down payment requirements. This program is guaranteed by the federal government, which means that lenders have less risk when lending to veterans and can often provide more competitive interest rates. Moreover, the VA loan program does not disqualify applicants who have had a bankruptcy or foreclosure in the past.