First-Time Home Buyer
First-Time Home Buyers Loan Rates as Low As
APR Effective 8/17/2018*
30 Year Fixed
FHA 30 Year Fixed
Adjusts every 5 years
If you're a new to the world of home loans, we have the resources to help you as you search for your new home. Use these resources to familiarize yourself with the home-buying process and take advantage of money-saving programs for first-time home buyers . Additionally try our Interactive Home Budgeting Tool to help you determine a monthly mortgage payment that won't break your budget.
Video: How the Home Buying Process Works
Reducing fees is just one more way we can help members combat the skyrocketing prices in today's real estate market. By charging no origination fees* on conventional fixed-rate or adjustable-rate mortgage loans, we can significantly reduce your closing costs.
First-time homebuyers can receive up to $6,500 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. To offer an 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).
Want to get started? Get pre-qualified below.
What do I need to get pre-qualified?
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 for members who aren't quite ready to begin the loan process, or those who just want to know what they 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.
BECU Real Estate Services
If you're just starting your search for your first home, Real Estate Services** 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. Learn more
BECU offers educational seminars for first-time homebuyers that will help prepare you for home ownership. When you attend a first-time home buying self-paced course, live seminar, or two-part webinar, we'll reward you with a $250 coupon*** that can be applied to your closing costs on a BECU home loan.
Resources to Get You Started
Need more information? Come see us.
If you've done all your research but aren't ready to apply just yet, make an appointment, or give us a call at 800-233-2328 . We're nearby, and we'll sit down with you and answer any questions you may have.
*Offer applies to purchase and refinance transactions. The no-fee promotion does not currently apply to government (FHA, VA) loans. Loans are subject to credit approval and other underwriting criteria, and not everybody will qualify. Certain restrictions apply. Home loan programs, terms and conditions are subject to change without notification. BECU reserves the right to terminate this offer at any time without notice.
**Real Estate Services 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.
***$250 coupon will only be offered for first time home buyers who have attended a Live Seminar, Two Part Webinar, or a First Time Home Buying 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.