First-time homebuyer programs

Boeing Employees Credit Union NMLS ID 490518.

¹ Mortgage loans are subject to membership, credit approval, and other underwriting criteria; not every applicant will qualify. Certain restrictions apply. Home loan programs, terms, and conditions are subject to change without notice.

² In order to qualify for the grant funds, buyers must meet all the First-Time Homebuyer Grant Program criteria as well as loan eligibility and property qualifications, some of which are not listed here. BECU reserves the right to alter or change grant criteria or lending requirements. All federal, state, and local taxes imposed on the acceptance of a grant are solely the responsibility of the applicant. BECU will issue an IRS Form 1099-MISC or W-2 to an applicant where a Form 1099-MISC or W-2 is required by applicable law. Applicants should consult their own accountant(s) or tax advisor(s) to determine tax implications, if any.

³ To qualify for the Washington State Housing Finance Commission (WSHFC) Down Payment Assistance Program (DPA), borrower(s) must be a U.S. citizen, or non-U.S. citizen lawfully present in the United States (includes Permanent Qualified Resident Aliens). Repeat program users are allowed but may only have one outstanding WSHFC loan at a time. Loans in a Trust or closing in a trust are not permitted. Household income must not exceed $215,000. For the purchase of a primary residence in Washington state only. The Home Advantage program includes a second mortgage for 4% of the first mortgage loan amount in Down Payment Assistance. The DPA second will appear as a second lien on title and repayment is due at the time of sale, transfer, refinance, early payoff of 1st mortgage, no longer occupy as primary residence, or 30 years; whichever comes first. Minimum DPA amount is $1,000. Eligible properties include: 1-unit single family residence including approved condo, townhome, PUD; or 2-unit (duplex) single-family residence. All borrowers who will be listed on the Note and Deed of Trust must complete the Homebuyer Education Seminar registered through the Commission and provide a copy of the completion certificate before reserving funds. Program funds may be reserved using a first-come, first-served reservation system. DPA amount will not exceed actual closing costs or down payment amount, and no cash back will be given to borrower(s). Private mortgage insurance may be required. Property insurance is required, and flood insurance may be required. All federal, state, and local taxes imposed on the acceptance of a grant are solely the responsibility of the applicant. BECU may issue an IRS Form 1099-MISC or W-2 to an applicant where a Form 1099-MISC or W-2 is required by applicable law. Applicants should consult their own accountant(s) or tax advisor(s) to determine tax implications, if any. Certain restrictions apply. BECU reserves the right to change or cancel this program at any time without notice.

⁴ Prime Alliance Real Estate Services (PARES) is an independent real estate referral service and is not affiliated with BECU. BECU may refer members to PARES; however, participation is voluntary. BECU home loans are available in WA, AZ, CA, ID, IL, KS, MO, OR, PA, and SC. Due to state law restrictions, PARES cannot offer real estate commission rebates to members in the following states KS, MO, AK, IA, MS, OK, and TN. Offers subject to change without notice. Please consult PARES for complete program details.

⁵ $500 coupon will only be offered for first-time homebuyers who have attended an in-person seminar. An individual is considered to be a first-time homebuyer if they have had no ownership interest (sole or joint) in a residential property during the three-year period preceding the date of the purchase of the security property. This special offer may be used by the borrower by presenting this coupon at the time of application for a new BECU home loan and will be credited toward closing costs upon their new BECU home loan's completion. This coupon may not be combined with other BECU mortgage offers, including the First-Time Homebuyer Grant program, and other restrictions may apply. Speak to your mortgage advisor for details. This coupon cannot be turned into cash or cash-like funds, and the closing cost credit cannot exceed the amount of the closing cost charges and prepaid items. Offer valid for new home loans that close within 365 days of the course completion date. Good only for purchase of a first home. Home must be the primary residence of the borrower. One coupon per loan transaction. Coupon is non-transferable. Mortgage loans are subject to membership, credit approval, and other underwriting criteria; not every applicant will qualify. Certain restrictions apply. Home loan programs, terms, and conditions are subject to change without notice.