First Residences is a U.S.-based organization specializing in assisting first-time homebuyers through financial education, down payment assistance, and partnerships with lenders. It simplifies the homebuying process by connecting buyers with eligible programs, providing mortgage pre-approval, and offering guidance on navigating credit requirements and market trends.

The effectiveness of First Residences stems from its targeted approach to addressing systemic barriers faced by first-time buyers. A 2023 National Association of Realtors report found that 88% of first-time buyers require financial assistance to purchase a home, highlighting the demand for structured support. First Residences has reported a 92% success rate in securing loans for clients in 2023, per its internal data, attributed to its curated network of grants and low-interest loans. Additionally, the U.S. Department of Housing and Urban Development (HUD) notes that first-time buyers accounted for 33% of all home purchases in 2022, with programs like the FHA’s 3.5% down payment requirement enabling accessibility. First Residences’ partnerships with local governments and nonprofits have further expanded opportunities, such as matching grants that cover up to 5% of a buyer’s down payment. These initiatives align with broader federal goals, as the Biden administration aims to boost homeownership rates among underserved groups by 2025. By combining localized resources with national programs, First Residences bridges gaps in affordability and education, making homeownership attainable for millions.