First Time Home Buyers
SFCU can assist you in achieving the American dream of home ownershipApply Now
Buying your first home is a very exciting moment! One you'll treasure forever, along with other major life milestones like your first car, your first paycheck...
Owning a home can be a significant first step in attaining financial independence. We can help you eliminate rent payments, build equity, and feel the personal satisfaction of calling a home your own.
Sonoma Federal Credit Union specializes in First Time Home Buyers and has a wide variety of loan programs available. And no one works harder than Sonoma Federal Credit Union to assist you in achieving the American dream of home ownership.
Listed below are our low down payment programs available:
- 5.0% down payment with “lender” paid private mortgage insurance (PMI)
- 3.5% down payment Federal Housing Administration (FHA)
- 3.0% down payment for HomePath properties (no appraisal & no PMI)
- 10% down payment with “borrower” paid private mortgage insurance (PMI)
- 20% down payment without private mortgage insurance
Loan terms include 15, 20, 30, and even 40 years; with a variety of fixed and adjustable rate options to be sure you get the loan that is right for you.
Periodically, we have grant down payment loans or other subsidized financing available. These loans have income restrictions based on the county where you buy the home. These loans typically require a zero to 1/2% down payment.
Buying your first home is an enormous investment, both financially and emotionally. We can make your first home buying experience simple & easy—we are local and are ready to meet with you face to face to guide you through to your first dream home.
*Ask us about our list of Realtors to start your search for your new home.Apply for your home loan now!