Your down payment should be earning while you search.
The Dream Home Certificate earns a competitive 5.75% Annual Percentage Yield (APY) on your down payment savings while you search. Make unlimited deposits throughout the four-month term and withdraw penalty-free at closing with no fees taken from your funds. An active Firefighters First mortgage application is required to open.
Save for your down payment while you house hunt.
Earn a competitive 5.75% APY while you save for your dream home. Unlimited deposits, penalty-free access at closing and available exclusively to members with an active Firefighters First mortgage application.
Dream Home Share Certificate
| Term | Min – Max. Balance | Dividend Rate | APY |
|---|---|---|---|
| 4 Months | $5,000 | 5.60% | 5.75% |
Here is how the Dream Home Certificate works.
Opening is straightforward and the account is built to flex around your home search timeline. Here is what to expect from start to closing day.
Start your mortgage application first.
Open your mortgage application with Firefighters First Credit Union, then contact our Real Estate team to open the Dream Home Certificate with a minimum deposit of $5,000.
Add funds at any time during the term.
Once open, you can deposit additional funds at any point during the four-month term. There is no limit on how much you can add as you continue saving toward your down payment.
Withdraw penalty-free at closing.
When you are ready to close, your full balance is available for withdrawal without penalty as long as the funds go toward a qualifying home purchase financed through Firefighters First Credit Union.
What happens if your search goes past four months.
If your mortgage application remains active after the initial term, the certificate automatically rolls into a six-month Dream Home Share Certificate at the then-current rate, with the same unlimited deposit and penalty-free withdrawal provisions
What happens if your application is no longer active.
If your mortgage application is no longer active at the end of the initial term, the certificate rolls into a standard six-month share certificate at prevailing rates.
After the six-month Dream Home Certificate matures.
Once the six-month Dream Home Certificate matures, it converts to a standard six-month share certificate regardless of your mortgage application status at that time.
What makes the Dream Home Certificate different.
A competitive fixed rate from day one.
You lock in a competitive rate the moment you open the account, so your down payment savings are working hard from the start regardless of how long your home search takes.
Unlimited additional deposits during the term.
Unlike a standard certificate, you can keep adding to your balance throughout the term. Whether you are saving from each paycheck or depositing a lump sum, your contributions are always welcome.
A penalty-free withdrawal at closing.
When you find your home and close, you can withdraw your full balance without penalty. Your savings are there exactly when you need them, not locked away on a schedule that does not match your timeline.
Built for the reality of homebuying.
Most people do not know exactly when they will close when they start saving. The Dream Home Certificate accounts for that uncertainty with a flexible structure designed around how homebuying actually unfolds.
No fixed withdrawal date to work around.
Standard certificates require you to time your maturity to your closing date. The Dream Home Certificate removes that pressure entirely, giving you access to your funds at closing regardless of where you are in the term.
A unique product within the Firefighters First lineup.
The combination of a competitive rate, flexible deposits and a penalty-free closing withdrawal makes the Dream Home Certificate unlike anything else in the Firefighters First savings product lineup.
Everything you need to know about Dream Home Certificate.
Who is eligible for the Dream Home Certificate?
You must have an active mortgage application with Firefighters First Credit Union to open a Dream Home Certificate. If you do not yet have an application open, contact our Mortgage Consultants to get started.
What is the minimum deposit to open?
The minimum opening deposit is $5,000.
Can I add funds after opening?
Yes. Unlimited additional deposits are permitted throughout the four-month term.
When can I withdraw without a penalty?
One penalty-free withdrawal is permitted during the term, provided the funds are used as a down payment on a home financed through Firefighters First Credit Union. All other early withdrawals may be subject to penalties.
What happens when the certificate matures?
If your mortgage application is still active at maturity, the certificate automatically rolls into a six-month Dream Home Share Certificate at the then-current rate, with the same deposit and withdrawal provisions. If your application is no longer active, it rolls into a standard six-month share certificate at prevailing rates. After the six-month Dream Home Certificate matures, it converts to a standard six-month share certificate regardless of mortgage status.
Is the 5.75% APY guaranteed for the full term?
Yes. The rate is fixed for the duration of your certificate term. The rate displayed is subject to change for new accounts opened after any rate adjustment.
APY = Annual Percentage Yield.
To qualify for the Dream Home Share Certificate, the member must have an open mortgage application with Firefighters First Credit Union. The initial term is 4 months with a minimum balance of $5,000 and allows unlimited additional deposits. One penalty-free withdrawal is permitted during the term, provided the funds are used as a down payment on a home financed through Firefighters First Credit Union. All other early withdrawals may be subject to penalties. At maturity, if the member still has an open mortgage application, the certificate will automatically roll into a 6-month Dream Home Share Certificate at the then-current rate, which also allows unlimited deposits and one penalty-free withdrawal under the same down payment condition. If there is no open application at that time, it will instead roll into a standard 6-month share certificate at current rates. Upon maturity of the 6-month Dream Home Share Certificate, it will convert to a standard 6-month share certificate at prevailing rates regardless of mortgage status. Rates are subject to change, and all funds used for penalty-free withdrawals must be verified as going toward a qualifying home purchase with Firefighters First Credit Union. Terms and conditions are subject to change without notice. All loans subject to credit approval. Federally insured by NCUA.
* Certain restrictions, limitations, and exclusions apply. See terms and conditions for details.