First Time Home Buyers
Are you have a first-time home buyer? We have a program to get you into your first house!
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.
- 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.
- 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.