First-Time Home Buyer Loans

We make homeownership accessible for our Indiana and Michigan members with loans designed for first-time buyers.

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First-Time Home Buyers Program

Why choose Everwise for your first-time home buyer loan?

We’ve eliminated the traditional barriers to buying a home, helping Indiana & Michigan residents keep more of their savings. Our program offers four key advantages:

Local assistance

Your first home should feel exciting, not overwhelming. We guide borrowers every step of the way.

Down payment assistance

You might qualify for grants up to $5,0001 to offset closing costs and other new-home expenses.

Reduced down payment options

Purchase your new home with a down payment as low as 3%.

Lower monthly payments

Enjoy budget-friendly stability with fixed rates and discounted private mortgage insurance (PMI).

Let's talk.

Buying a home comes with a lot of questions. Our experienced professionals are here to help you understand your options, navigate the process, and move forward with confidence—at your pace.

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State funding resources

How do I find homebuyer assistance?

Indiana Residents

Buying in Indiana? We’ll help you apply for programs from the Indiana Housing and Community Development Authority (IHCDA) that may offer down payment assistance and tax credits.

Michigan Residents

Michigan buyers can access programs through the Michigan State Housing Development Authority (MSHDA), including down payment assistance and potential tax savings, with guidance from our team.

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Mortgage insights

Confidence starts with research.

Happiness couple enjoying after have bought the new home
Home Buying

How much house can I afford?

Owning a home is about having a place to call your own. But in a market with changing rates and prices, the financial side can feel heavy. You might find a house you love, plug the numbers into a calculator, and see a monthly payment figure. But does that number tell the whole story?
Home Buying

First-time home buyer checklist – Indiana & Michigan

Your essential guide to buying a home in Indiana or Michigan. This simple checklist helps you get ready, find a loan, and close on your new home with confidence.
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Home Buying

What first-time home buyer programs are available in Indiana?

Buying your first home is big. If you're buying in Indiana, many programs can help. The process can feel complex, but we're here to guide you and empower your choices.

Explore other mortgage tools

Mortgages

Get a clearer picture of your monthly payment.

See how home price, down payment, and rate affect what you’ll pay.

Mortgages

Get pre-qualified.

Start the same secure application used when you’re ready to move forward — with no obligation.

Good to know

FAQs

Who qualifies as a first-time home owner?

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

What documents do I need to apply?

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)

Self-Employed:

  • 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

Purchase

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

Refinances

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

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

How do I sign my mortgage documents electronically?

Log in through the Finish or Check Status page. Enter the authorization code, then the last 4 digits of your Social Security number, then accept the eConsent agreement and follow the Docusign instructions.

How do I upload documents for my mortgage application?

Visit the Finish or Check Status page, sign in to your mortgage application, then go to the Documents tab and upload your files.

1The amount could change from one year to the next.

Subject to membership eligibility requirements. Loans subject to credit approval. Borrower must be a resident of Indiana or Michigan, and for home loans property must be in Indiana or Michigan. All credit union programs, rates, terms, and conditions may change without notice.