First-Time Homebuyers Loan Rates as Low As
APR Effective 12/4/2025*
6.224
%
APR
30-Year Fixed
6.390
%
APR
FHA 30 Year Fixed
6.273
%
APR
7 Year ARM (7yr/6mo)
Adjustable after year 7
*See important information about rates, fees and other costs
If you're new to the world of home loans, we have experienced home loan advisors and resources to help you on your first home buying journey.
We have down payment assistance options available to help members get into their new homes — from specialized loan products to our First-Time Homebuyer Grant. Contact us to see if you're eligible today.
Limited-Time Offer¹
We've increased our income limits — you may qualify for a $1,000 lender credit.
Make an AppointmentFirst-Time Homebuyer Features and Benefits
First-time homebuyers can receive up to $8,000 in a down payment grant that doesn't have to be paid back. Instead of scrambling to cover 3% of a home's down payment cost (depending on your loan program), eligible BECU members need only come up with 1% — BECU pays the rest of the down payment. For example, if you secured a home loan worth $300,000, your down payment would only be $3,000 instead of $9,000.
Home loans available under this program include conventional, fixed and a 5/5 ARM (adjustable- rate mortgage). Learn more about the First-Time Homebuyer Grant Program.
An origination fee is a fee charged by a lender to cover the cost of processing the loan, typically 1% of the loan amount (e.g., pay $4,500 on a $450,000 loan). At BECU, we know how hard it is to save for your home, so we offer all our members no origination fee3 on fixed-rate or adjustable-rate mortgage loans.
To help get you started with pre-qualifying, gather all of the materials on the Purchase Checklist.
A simple way to determine what you may qualify for (without having to submit all your personal information) is to use our mortgage calculators. This is a great option if you aren't quite ready to begin the loan process, or if you just want to know what you can afford. Select the loan type and terms you're interested in and provide minimal information related to income, monthly debts and down payment. We'll run the numbers and let you know if you're pre-qualified.
Please note: A pre-qualification through the Mortgage Calculator is not a guarantee your loan will be approved, nor is it a commitment to lend. All information used to determine your pre-qualification must be verified by BECU.
First-time homebuyers in Washington may qualify for up to 4% down payment assistance through a no-interest second mortgage with no payments for 30 years.4 Funds can also be used toward closing costs. Income limits apply (up to $180,000 household income), and buyers must complete a free homeownership class. This program is even available to buyers with no credit score.
If you're just starting your search for your first home, Home Rewards5 can help you navigate the process. This service connects you with a member advocate who then matches you with a knowledgeable agent in your area. They will help you find the perfect home for you, while the member advocate ensures you're getting everything you need during your search.
BECU offers educational seminars for first-time homebuyers that will help prepare you for home ownership. When you attend a first-time homebuying self-paced course, live seminar, or two-part webinar, we'll reward you with a $250 coupon6 that can be applied to your closing costs on a BECU home loan.
Have questions? Our mortgage advisors have answers.
Homebuying Calculators
Video: How the Homebuying Process Works
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Boeing Employees Credit Union NMLS ID 490518.
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.
1IMPORTANT INFORMATION ABOUT THIS OFFER: Offer available on the first 200 locked qualifying mortgage loan applications received between July 1, 2025 and December 31, 2025. The loan must be an eligible HomeReady purchase loan and borrower(s) must have total qualifying income less than or equal to 50% of the applicable area median income (AMI) limit for the subject property's location. At least one borrower must be a first-time homebuyer, meaning they have not owned a residential property in the last three years. Credit may be used to satisfy the 3% minimum contribution for all loans secured by one-unit properties or loans secured by two- to four-unit properties with LTV ratios less than or equal to 80% – all additional funds must comply with requirements for source of funds. For loans secured by two- to four-unit properties with LTV ratios greater than 80%, the credit may be applied to down payment after the 5% minimum contribution is met. The full amount of the $2,500 credit will be applied toward down payment or closing costs, including escrows and mortgage insurance payments, directly through the transaction. No cash will be paid to borrower(s) or deposited to borrower(s)' deposit accounts. Any federal, state, and local taxes imposed on the acceptance of a grant are solely the responsibility of the applicant. Applicants should consult their own accountant(s) or tax advisor(s) to determine tax implications, if any.
2In 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 is 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.
3Offer applies to purchase and refinance transactions. BECU reserves the right to terminate this offer at any time without notice.
4To 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 $180,000. 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. Home loan programs, terms and conditions are subject to change without notification. BECU reserves the right to change or cancel this program at any time without notice.
5Home Rewards is a program provided by Prime Alliance Real Estate Services, LLC and is not affiliated with BECU. Certain restrictions apply. Offers subject to change without notice. Please contact your assigned member advocate for additional information regarding these buyer/seller benefits. Real Estate services provided by carefully selected local real estate agent.
6$250 coupon will only be offered for first time homebuyers who have attended a Live Seminar, Two Part Webinar, or a First Time Homebuying Self-Paced Course. Limit one coupon per loan. Loans are subject to credit approval and other underwriting criteria. Certain restrictions apply. Home Loan program rates, terms and conditions subject to change without notice. This special offer may be used only by the primary borrower and will be credited toward closing costs upon the completion of your new BECU home loan. This offer cannot be combined with any other offer. This offer cannot be used in connection with any loan modification. Offer valid for new home loans that close within 120 days of course completion date. Good only for purchase of a first home. Home must be the primary residence of the borrower. Closing cost credit cannot exceed the amount of the closing costs charged.