The first-time homebuyer guide that actually helps.
You probably have more questions than answers right now, and that’s exactly where you should be. We have laid out what buying a home actually looks like, the loan options built for first-time buyers, and the ways we help you save along the way. Read straight through, or jump to whatever you need.
The homebuying process, step by step.
1. Starting at square one.
New to all this? Start here to look at the journey ahead, from pre-approval all the way to closing day.
2. Set yourself up early.
A few smart moves early on make everything smoother later. Here are our top tips for first-time buyers.
3. Know the timeline.
See what a typical timeline looks like, plus simple ways to keep things moving and close sooner.
4. See what fits your budget.
Get a quick answer before you start shopping. Our affordability calculator does the math for you.
5. Get the full picture.
Ready to go deeper? Speak with a mortgage consultant to begin your journey.
Loan options built for first-time homebuyers.
No PMI 7/1 adjustable-rate mortgage (ARM).
Our 7/1 ARM is built for first-time buyers. Put as little as 3% down with no private mortgage insurance, which keeps your monthly payment lower from day one. You get a fixed rate for the first seven years, then the rate adjusts. A smart fit if you expect your income to grow or you don’t plan to stay forever.
Low down payment conventional loans.
Finance your first home with as little as 3% down. Private mortgage insurance (PMI) lets you buy sooner and can be removed later as you build equity. Choose a fixed rate for steady, predictable payments year after year, or an adjustable rate for lower payments early on.
Free Homebuying Workshop.
Our free Homebuying Workshop breaks down everything a first-time buyer needs to know. Join a live virtual session, or watch on your own schedule.
No events at this time. Please check back later.
DREAM HOME CERTIFICATE
Save your down payment while you look.
Saving for a down payment shouldn’t mean watching your money sit still. With an open mortgage application, our Dream Home Certificate earns a competitive return and gives you the flexibility first-time buyers need.
HOME REWARDS PROGRAM
There is a better way to buy and sell.
Stop paying full commission on your next move. Firefighters First members earn a 20% rebate on buyer’s agent commission and pay just 1.5% to list. Free to enroll, no obligation and no Firefighters First Credit Union mortgage needed.
Start your first home purchase with confidence.
Take the first step to become a first-time homebuyer. Apply today and move forward with clarity, speed and support at every stage.
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).