First-Time Homebuyer Loans

Buying your first home is a life-changing move. We want you to experience it sooner.

You could spend years of saving just to cover the upfront costs. We've come up with a way to help get your foot in the door.

Reduced down payment

3% down is a lot less money than what's required for traditional mortgages.

Flexible down payment options

Qualified borrowers can use gift funds for down payment

Friendly, local assistance

It's your first home, but relax — we're great at guiding borrowers through the process.

You have a good job and a steady income. What's holding you back is the big chunk of cash needed for down payments, closing costs, and other fees. We might have the answer to all that, with a loan program that offers financial breaks to first-time homebuyers.

  • Fixed-rate loans
  • Reduced down payment requirements as low as 3%
  • Origination fee waived ($850 savings), for borrowers who meet Fannie Mae HomeReady® income requirements
  • May qualify for down payment assistance grant of up to $5,000 
  • Qualified borrowers can use gifted funds toward their down payment
  • Discount on private mortgage insurance (PMI)

Get Pre-Qualified

Knowing how much you can afford is the first step in the home buying process and gets things moving. Show your real estate agent that you are serious with a prequalification letter.

Paying off your mortgage isn't as simple as it seems. For one thing, you have to account for taxes and insurance in your monthly payments. This calculator will help you figure out your amortization schedule -- that is, your payoff timetable. You can also determine what impact paying extra money each month toward principle will have on your loan length and interest charges.

W2 Wage Earner:

  • Pay stubs for the most recent 30-day period
  • Last two years W-2’s and 1099’s
  • Social Security Award Letter (if applicable)


  • Past two years Personal and Business (Corporate/Partnership) tax return forms and schedules.
  • K-1’s for prior two years if applicable
  • YTD Profit and Loss Statement

Asset Verification

  • Most recent two months checking and savings account statements on non-TCU accounts
  • Most recent statements on investment, retirement and/or brokerage accounts.

Additional Information (if applicable)

  • Divorce Decree and Property Settlement- Signed
  • Bankruptcy Papers
  • Copy of Driver’s License or picture ID


  • Signed copy of the Offer to Purchase
  • Listing Brochure or data sheet, if available


  • Current mortgage statement
  • Copy of Homeowner’s Insurance Policy

NOTE: Other verification documents may be required depending upon specific circumstances.

You’re considered a first-time homebuyer if you haven’t owned a home in the last three years. 

Subject to membership requirements. APR = Annual Percentage Rate. The rate examples are current as of 10/04/2022 and are Everwise’s best rate. Rates and terms vary depending on loan to value ratio, credit evaluation and underwriting requirements. PMI=Private Mortgage Insurance, flood and/or property hazard insurance may be required. All Credit Union loan programs, rates, terms, and conditions are subject to credit approval and may change at any time without notice. Payment examples do not include taxes or insurance premiums. The actual payments will be higher; and rates provided are based on current market rates and are informational only. Payment example: Based on a $150,000 home purchase with $145,500 finance after $4,500 (3%) down payment. Assumes a 30-year conventional 6.875% rate (7.522% APR) fixed-rate mortgage, with monthly payments of $955.83. 
You’re considered a first-time homebuyer if you haven’t owned a home in the last three years. 

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Routing Number | 271291826