First Time Home Buyers

Are you have a first-time home buyer?  We have a program to get you into your first house!

HomeReady Mortgage

Designed for creditworthy, low-to-moderate income borrowers, with expanded eligibility for financing homes in designated low-income, minority, and disaster-impacted communities.

• Down payment as low as 3%. Ideal for home buyers who can't afford a large down payment. 
• Flexible sources of funds. Extended households may help you qualify. Co-borrowers are not required to live in the home, so relatives and other individuals may assist you with your home purchase.
• Homeownership education to help you succeed. Convenient online education prepares you to buy a home and own a home for the long run.

FHA Mortgage

• Finance a home with a down payment as low as 3.50%.
• Flexible sources for down payment: You can use money from personal savings, gift from a family member, or an approved government down payment assistance program.
• Closing Cost credits may be available.  

This program is perfect for first time home buyers who need a lower down payment and may not have perfect credit.  

VA Mortgage

• A down payment is not required: You can finance up to 100% of the purchase price.
• Private mortgage insurance is not required on a VA loan.
• Lower closing costs.

This program is perfect for active service members or veterans who meet the minimum service requirements.  

Merrimack Valley Credit Union (MVCU) and Bridgewater Credit Union, a division of Merrimack Valley Credit Union (BCU), are here to help.  Contact our Mortgage Consultants to discuss your housing needs, learn about our affordable programs or to apply for a mortgage.