Becoming a homeowner puts you in control of an investment that you can leverage for a lifetime. Perhaps even generations. Put your dreams into view and own your future with PSECU’s First-Time Homebuyer program1.
PSECU First-Time Homebuyer Program Features:
- Finance up to 100% of the purchase price (No minimum down payment required)
- No private mortgage insurance (PMI) required
- Low PSECU-related closing costs
- Starting April 15, grant options available for those who qualify
- No income limitations
Additional PSECU First-Time Homebuyer Product Info:
- Fixed- and adjustable-rate options available
- Terms available for 10, 15, 20, 25, or 30 years
- Down payment assistance allowed
- Borrower is required to have 1% of total loan amount in reserves
- Up to 3% seller assistance allowed
- Maximum loan amount of $726,200
- borrower(s) must not have owned a home in the last 3 years
- At least one borrower must take and complete an approved homebuyer education course (PSECU mortgage consultants will provide links to qualified course options)
Owning a home doesn’t have to be a dream anymore. Gone are the days of a minimum 20% down payment–saving that much money for a home purchase just isn’t a reality for many people. PSECU’s First-Time Homebuyer program was designed to help credit-worthy borrowers realize their goals of home ownership by eliminating the barriers of a large down payment and the additional monthly cost of PMI.
We recognize the tremendous impact owning an asset like a home can have on anyone’s financial stability and future. The credit union philosophy of “people helping people” drives us to offer products that create opportunities and growth for our members, enabling them to own their future.
Ready to get started? Allow us to be the first ones to say, “welcome home.”
Own Your Future – Apply Today
FAQs
What qualifies as a “first-time homebuyer”?
A first-time homebuyer is someone who has never had a mortgage before, or, for our First-Time Homebuyer program, someone who has not owned a home or been named as the owner on a mortgage in the last 3 years.
Are the required education courses free?
Yes! While they are not conducted by PSECU, our mortgage consultants will provide you with a list of qualifying course options.
1Additional options for first-time homebuyer products/terms available. PMI may be required. Contact one of our mortgage consultants to find out which one is right for you.
Equal Housing Lender
