Mortgage
See today’s rates on fixed, adjustable, HELOC and specialty mortgage products.
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Every home loan the Fire Family needs.
First-Time Homebuyer.
Buying your first home is a big step, and you don’t have to take it alone.
Talk to a Loan Consultant.
Our consultants know the firefighter situation inside out.
HELOC.
Turn the equity you have built into flexible, accessible credit.
Dream Home Certificate.
Earn a competitive rate on your down payment while you search.
VA Loans.
Your military service earned this benefit. Here is how to use it.
Reverse Mortgage.
Turn the equity you have built over a career into retirement income.
Construction Loans.
Finance your build and permanent mortgage in a single close.
Land Loans.
Secure your lot now and build when the time is right.
Vacation Homes.
Buy your place to decompress today and retire into tomorrow.
Move & Save.
Don’t leave your rate behind when life takes you somewhere new.
RateDrop.
If rates drop, we can lower yours without starting over.
Home Buying and Selling.
Keep more of your money at closing with the Home Rewards program.
Your first home loan, built around you.
Our First-Time Homebuyer 7/1 ARM eliminates PMI with as little as 3% down*, giving you a lower monthly payment from day one. With a 60-day rate lock and RateDrop* eligibility, it is built to make your first home more financially accessible.
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No PMI with 3% down -
60-day rate lock* included
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RateDrop eligible after close
RATEDROP
Lower your rate without starting over.
If rates drop after closing, RateDrop lets you lower your rate with no appraisal, no income docs and no full closing process required.
MOVE & SAVE
Take the rate you earned with you when you move.
Moving to a new home? Bring your current Firefighters First rate to your new purchase and lock it in for three full years while you settle in.
DREAM HOME CERTIFICATE
Earn more while you save for your down payment.
Earn a competitive annual percentage yield (APY) on your down payment savings while your application is active. Make unlimited additional deposits throughout the term and withdraw penalty-free at closing.
Fixed or adjustable? Here is how to choose the right mortgage.
The most important early decision is choosing between a fixed and adjustable rate. Here is what sets them apart.
Lock in your rate for the life of your loan.
A fixed-rate mortgage keeps your payment the same every month regardless of market conditions. It’s a strong fit if you plan to stay long term or want protection if rates rise. And if you’re still searching for the right home, our Lock While You Shop guarantee means we’ll honor your quoted rate for up to 60-days on portfolio loans, so you can take your time without losing your rate.
Start with a lower rate during the fixed period.
An Adjustable-Rate Mortgage (ARM) starts with a fixed rate for a set period then adjusts periodically based on a market index. The lower initial rate means lower early payments, making an ARM a smart choice if you plan to move or refinance before the fixed period ends.
Five ARM options to match your planning horizon.
Firefighters First offers five ARM structures with loan amounts up to $2,000,000 on each:
15/15 ARM: Fixed 15 years, adjusts once for the remaining 15 years. Cap: 5% at the single adjustment.
3/1 ARM: Fixed 3 years, adjusts annually. Caps: 2% first adjustment, 2% annual, 6% lifetime.
5/1 ARM: Fixed 5 years, adjusts annually. Caps: 2% first adjustment, 2% annual, 5% lifetime.
5/5 ARM: Fixed 5 years, adjusts every 5 years. Caps: 2% first adjustment, 2% per adjustment, 5% lifetime.
7/1 ARM: Fixed 7 years, adjusts annually. Caps: 2% first adjustment, 2% annual, 5% lifetime.
Everything you need to know
about mortgages.
Where does Firefighters First Credit Union lend?
Firefighters First Credit Union offers mortgages in Arizona, California, Colorado, Florida, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Tennessee, Texas, Utah and Washington for standard mortgage products. First Mortgages are available in all 50 states. For mortgages in all other states, we have partnered with Credit Union Mortgage Association to ensure members across the country still have access to Firefighters First Credit Union mortgage lending. Contact us for details.
What is a 60-day rate lock?
Lock While You Shop. On select loan programs, Firefighters First Credit Union is able to honor the personalized rate quote we provide to you for up to 60 days while you search for the perfect home, avoiding any unpleasant budget surprises if mortgage rates increase.
What is the difference between a fixed rate and an adjustable rate mortgage?
A fixed-rate mortgage locks your rate for the full loan term. Your principal and interest payment never changes. An ARM starts with a fixed rate for a defined period, then adjusts based on a market index. ARMs typically offer lower initial rates in exchange for the possibility of adjustment after the fixed period ends.
What is PMI and when is it required?
Private Mortgage Insurance (PMI) is typically required on conventional loans when the down payment is less than 20% of the purchase price. It adds to your monthly cost and protects the lender, not the borrower. Firefighters First Credit Union’s First-Time Homebuyer 7/1 ARM eliminates PMI even with a down payment as low as 3%, which is one of its primary advantages.
What is RateDrop?
RateDrop is a Firefighters First program that allows you to lower your mortgage rate to the current market rate after closing, without a full refinance. No appraisal or income documentation is required.
What is Move & Save?
Move & Save is a Firefighters First program for existing mortgage members who are purchasing a new home. It allows you to bring your current Firefighters First rate to your new purchase and lock it for 3 years, protecting you from rate increases during a move.
Do you work with firefighter income patterns?
Yes. Our mortgage consultants are experienced with shift-based income, overtime, secondary employment and other income structures common among firefighters. We have the flexibility to work with employment and family situations that may not fit a standard lender’s template.
APR = Annual Percentage Rate.
ARM = Adjustable-Rate Mortgage.
Representative Example: A $350,000 mortgage loan financed at 6.5% APR for 30-year fixed would result in 360 payments of $2,212.24. Taxes and insurance premiums are not included in the payment and the actual payment obligation may be greater.
60-Day Rate Lock: Offer valid on primary residences and second homes. Not valid on loans sold to Fannie Mae.
First-Time Homebuyer 7/1 ARM: This is a fixed-rate loan for the first 7 years, then adjusts annually for the remaining term (30 years total). For a $400,000 loan at 5.625% Rate, 6.011% APR, estimated payment for first 84 months: $2,302.63. First adjustment capped at 7.625%, estimated payment $2,739.69. Subsequent annual adjustments limited to 2% per change, lifetime cap 5% above initial rate (maximum 10.625%, estimated maximum payment $3,429.37). Index: One-Year Treasury Constant Maturity (currently 4.35%). Taxes and insurance not included. Eligibility: First-time homebuyer per HUD definition (no home ownership in past 3 years), primary residence only, minimum 720 FICO, no delinquencies in past 2 years, 2-year employment history, 3 months reserves, debt-to-income ratio at or below 45%, loan-to-value up to 97%, down payment as low as 3%, no PMI, mandatory impound account, loan limit up to conforming high balance ($1,249,125). Rate slightly higher than standard 7/1 ARM. Not all applicants will qualify.
ARM Payment Examples: See individual ARM product pages for full representative payment disclosures.
RateDrop: HELOCs are eligible at no cost. Fee of $1,000 applies to loans at or below $806,500. Fee of $1,500 applies to loans above $806,500. No appraisal, income documentation or closing required. One-page modification agreement required. For ARMS, the fixed-rate portion will be reset. For example, if you have a 7/1 ARM and after 3 years you modify, you receive a new rate fixed for another 7 years.
Mortgages available in Arizona, California, Colorado, Florida, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Tennessee, Texas, Utah and Washington. For mortgages in all other states.
NMLS ID #649058.
Firefighter Insurance Services is an independent agency licensed in all fifty states and DC. CA Resident License Number #0G87848.
Fire Family Foundation is a nonprofit 501(c)(3) organization, Tax ID #36-4613248.
Firefighters First Credit Union is not affiliated with or endorsed by the U.S. Department of Housing and Urban Development (HUD), or the U.S. Department of Veterans Affairs (VA).