- Additional restrictions on maximum loan amount may apply. Amount financed limited to the lesser of the sales price or appraised value, plus up to $2,000 for closing costs. The interest paid on the loan portion greater than the home's fair market value is not tax deductible for federal income tax purposes. Consult a tax advisor for further information about the deductibility of interest and charges. An origination fee of 1.00% of the loan amount (cap of $2,500) is charged for processing the loan. No application fees or credit report fees. The home must be the primary residence for the borrower. Private mortgage insurance is not required. Loans are available for terms of up to 30 years.
- The FHLBA Grant cannot be used with SECU’s First-Time Homebuyer's Mortgage Program.
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Crunch the numbers
Determining your target purchase price will keep your house hunt realistic and approachable. Review your assets, debts, and income to determine the loan amount you may qualify for using our payment calculators.
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Check your credit
Your credit score plays a big part in your mortgage interest rate and fees. Take action to improve your score by paying your accounts on time, as well as checking and correcting errors on your credit report.
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Research mortgage types
Knowing your options helps you choose the right mortgage for your house and financial goals. Luckily, there are lending programs designed specifically for first-time buyers, such as the SECU First-Time Homebuyer’s Mortgage.
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Get pre-qualified
SECU offers quick, no-cost, no-obligation pre-qualifications. Getting pre-qualified can help you better understand the home loan amount you can afford, strengthen your offer, and potentially close faster on your dream home.
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Choose and apply for a mortgage
Choose a mortgage loan product that aligns with your goals and work with an SECU mortgage loan specialist to begin the mortgage application process.
Explore programs for first-time homebuyers
SECU offers lending programs tailored to your needs as a first-time buyer.