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First Time US Homebuyers

Own your dream

Special benefits to help bring your first home within reach

Buying your first home1 is one of the biggest investments you will make. Let us focus on your financing and paperwork, while you concentrate on finding the perfect home. Enjoy a low down payment and reduced closing costs on a 6/1 adjustable rate mortgage.2 

Your personalized approach to a US mortgage

Connect with our experts to begin the journey toward your new home and partner with the same mortgage representative from start to finish.

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    Call us

    Dial +1 212-338-0290 from all regions or view all our toll-free numbers.

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    Visit in person

    View hours for our locations in New York, Washington, DC, and Virginia.

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    More ways to get in touch

    We are here to support all of your financial goals. View all the ways to contact us.

“Reassurance every single step of the way.” 

Watch one member’s experience securing the perfect first home with UNFCU.

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Connect with our mortgage team

Contact us to help you get started on your journey to home ownership in the US. 

Top US mortgage FAQs

This depends on the purpose of your mortgage, how you will use the home, and the mortgage product you choose. Contact a mortgage representative to discuss your options.

A pre-approval confirms that you are “credit” approved for a mortgage. This means that we have analyzed your income, assets, and other key factors to determine that you qualify for a mortgage. As a result, the pre-approval also tells you the amount for which you qualified. You can then look for a home within your budget.  

Since a pre-approval is evidence of your ability to obtain financing, it is useful for real estate agents and sellers. It indicates that you are a qualified buyer. Contact a mortgage representative to start the pre-approval process.

There is no fee to apply. We also offer free pre-approvals.

PMI is required if your mortgage amount is more than 80% of the value or purchase price of your home. The value of your home may not cover the amount due if you are unable to repay the mortgage. This insurance gives the lender added protection in such cases. You pay the PMI each month until the value of your property reaches a certain percentage. Depending on the percentage that is reached, we will either automatically cancel the PMI or you can request a cancellation.

An escrow account is set up at closing. The purpose of an escrow account is to help you budget for expenses such as property taxes and insurance. If you are in a special flood hazard area, your flood insurance will also be covered by the escrow account. 

To fund the escrow account, we add a portion of your property taxes and insurance premiums to your monthly mortgage payment. When your tax or insurance amounts are due, we pay the amounts from your escrow account. This saves you time. It also gives you peace of mind that your tax and insurance bills will be paid on time.

Resources to help you get started

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Financial Wellness

US homes: Rent or buy?

US Mortgages

Mortgage loan calculator

Financial Wellness

Fixed rate & adjustable rate mortgages

US Mortgages

Applying for a US mortgage FAQs

More special programs for US homebuyers

Discover more ways to save when securing a US mortgage with our team.