First-Time Home Buyer
Buying your first home shouldn’t be frightening. Focus Federal Credit Union is here to be your guide.
Rates as low as:
7.398%
APR
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* Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regard to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
*Interest rates (APR = Annual Percentage Rate) determined by credit score. Normal credit union underwriting, terms and conditions apply. Rates subject to change. Estimates do not include taxes and insurance premiums. Actual payment obligation will be greater.
Rate effective as of October 8, 2026
First-Time Home Buyer
For most people, buying a house is one of the most expensive and vital purchases they’ll ever make. And although it’s an exciting time, being a first-time home buyer can leave you feeling nervous, stressed, and sometimes overwhelmed.
You’re likely questioning the home buying process. How much house can you afford? Is your credit score high enough? Do you have enough money for the down payment?
You Don’t Know Where to Begin
For most people, buying a house is one of the most expensive and vital purchases they’ll ever make. And although it’s an exciting time, being a first-time home buyer can leave you feeling nervous, stressed, and sometimes overwhelmed.
You’re likely questioning the home buying process. How much house can you afford? Is your credit score high enough? Do you have enough money for the down payment?
We Have the Answers to Get You Started
A positive home buying experience is about getting the details right, from start to finish. Working with a trusted financial partner who cares about your success is the first step. FFCU is here to make your first-time home buying process easier every step of the way.
Financial Guidance
We know everyone’s financial situation is different. We provide you with guidance on what you can afford and work with you to find the best loan option to ensure financial success. Our resources help you avoid surprises.
Home Buyer Education
FFCU first-time homebuyer class provides a detailed explanation of the buying process from start to finish. It will help prepare you for the journey ahead and give you the information to make the best decisions. It will also help you build your financial picture by discussing critical aspects of finances, including income, debt, expenses, savings, and credit score.
Glossary of Terms
During the process, you’re likely to encounter unfamiliar terminology. Deciphering terms is key to building your knowledge base.
We’ll Walk You Through Every Step
FFCU offers loan options with varying down payments and eligibility requirements. We start with a preapproval. It will determine what you can spend when you start shopping for your new home. We’ll need to know your assets, income, and liabilities. And we’ll run a credit report to provide a complete picture of your financial situation. The credit report looks at your ability to pay bills on time, credit card balances, and outstanding debt.
Your credit score will determine your mortgage qualifications and interest rate. The higher your credit score, the lower the interest rate you’ll receive. But you’ll need a minimum credit score of 640. And preapproval is contingent on the property meeting underwriting requirements.
Purchase Your Home Through Us
As a first-time homebuyer, you want to understand the costs associated with buying a new home. When you buy a house, there are upfront costs.
Down Payment
Your down payment will depend on the mortgage type. Some conventional loans allow as little as 3% down. But a small down payment can cost you extra in mortgage insurance.
Closing Costs
These are fees and expenses associated with buying your house. They’re based on the individual purchase but typically range from 2% to 5% of the loan amount. Expected closing costs include title insurance, home inspection, appraisal, and loan origination fees.
You’ll also want to factor in ongoing costs such as homeowner’s insurance, property taxes, and utilities.
Get a Quote Today
Ready to start your home buying adventure? FFCU is here to help you understand the process and make sure you know what you can afford.