First-Time Home Buyer Grants

Grants Available for Down-Payments and Closing Costs

BECU's first-time homebuyer grant awards eligible members with up to 2% (maximum of $6,500) of the down-payment or closing costs on their first home.* Both you and your future home must be eligible to receive grant funds.

Many of our members are qualified home buyers – they simply need help clearing the hurdle of a down payment. That being said, each grant recipient must apply, qualify for, and close on their new home using a BECU conventional fixed or adjustable-rate loan.

Are You Eligible?

You may be eligible for grant funds if you can answer “yes” to the below questions:

  • Are you a BECU member (or eligible to become one)?
  • Are you a first-time homebuyer?

  • Are you willing to attend a homeownership course?

  • Do you have a good payment history?

  • Can you pay part of the down payment? (Additional closing costs may be required.)

  • Is your income (and the total income of all borrowers on the loan) less or equal to 100% of the Area Median Income (AMI)?

Is Your Future Home Eligible?

Your potential purchase may qualify if you can answer “yes” to the below questions: 

  • Is the application amount no more than $484,350?
  • Is the home a single-family residence (one-unit home, condo or townhouse)?
  • Will this property be your primary residence with the intention of staying in the property for three years or more?
  • Is the home in a BECU-served community (Washington and South Carolina states; Idaho counties of Benewah, Bonner, Kootenai or Latah)?

How to Reserve the Fund

This fund is limited and is reserved on a first-come, first-serve basis. Your first step is to speak with a BECU Mortgage Advisor.  Come prepared to discuss the process to qualify for both a loan and the first-time homebuyer grant program. Your second step is to ensure availability of the funds. You'll need to request that BECU set aside funds for your grant.

Contact BECU to get started

  • Call us: 800.233.2328, ext. 5772. 
  • Make an appointment to speak with an advisor in person.
  • Stop by your nearest BECU location

BECU Home Rewards

Home Rewards is an additional program available to BECU members that pairs the home buyer with a certified real estate agent.  Members who purchase their home using a credit union certified real estate agent can receive $300 to $6,000 cash back at closing.** This can be on top of your First Time Home Buyer grant for additional savings.

Contact a Home Advisor to learn more about Home Rewards

The Home Rewards program is not affiliated with the grant program, and is a service available to all BECU members. Home Rewards is just one more way to keep costs down.

*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, all of which may not be listed here. BECU reserves the right to alter or change grant criteria or lending requirements.

**Home Rewards is a program provided by Prime Alliance Real Estate Services, LLC and is not affiliated with BECU. OneSource Solutions, Inc. is not affiliated with BECU. Certain restrictions apply. Offers subject to change without notice. Reward based on sale price and limited or not available in all areas.