Skip nav to main content.
Home Loans for First-Time Home Buyers

Your dreams begin here

Introducing our DreamStart Home Loan program for first-time home buyers.

What is DreamStart?

DreamStart is our new home loan program designed for first-time home buyers looking to turn their homeownership aspirations into reality. The program combines affordability with personalized assistance from local loan officers who know the challenges and have a suite of solutions.

Take advantage of our special DreamStart options.

Created with first-time buyers in mind, choose the features that are right for you.

wallet-90@2x

Low down payments

Make a down payment as low as 3%. Talk to your loan officer to see if it’s right for you.

property-sold@2x

No-closing-cost option

Choose the no-closing-cost option to help make your initial costs more affordable. No-closing-cost product requires a minimum balance of $200,000 and includes potential savings of up to $2,600 in closing costs.

property-agreement@2x

Up to 40-year terms

Reduce monthly payments and improve cash flow with our special 5/5 ARM.

Benefits

Affordability

DreamStart is crafted to offer more cost-effective solutions for first-time homebuyers with low downpayment options, a no-closing-cost option, and terms up to 40 years.

Flexibility

We understand that your personal circumstances shift and interest rates change, so our team is standing by to help with options like rate reductions, home equity loans, or refinancing.

Personalized service

As a first-time homebuyer, you deserve a mortgage experience tailored to your unique needs. With DreamStart, our local mortgage experts will explore all the options to find the right fit.

Financial security

Homeownership is an investment in your future. By building equity over time, owning a home can provide financial stability and a secure foundation for long-term wealth.

Additional resources

Take the first steps to home ownership by learning what to expect throughout the process.

articles-icon

The power of getting preapproved

Learn the benefits of getting preapproved to show the seller you're serious and get more negotiating power.

Learn More
home_key

The home buying process in 7 steps

Learn about the home buying process with this simple 7-step summary.

Read More
home

Home buying guide

Get more comprehensive information about the home buying process in this easy-to-understand resource designed specifically for first-time buyers.

Explore the E-Book
book

Mortgage learning center

Empower yourself with knowledge by looking through our specially curated collection of helpful resources.

Get Started
additionaltips_icon2

Application checklist

Make sure you have all the right documents and information prepared before you begin the application process.

Get Checklists
home

HomeAdvantage®

Connect with experienced, trustworthy agents – and earn cash rewards at closing.

Get Connected
DreamStart Home Loan

5/5 ARM with flexible repayment terms

Our 5/5 adjustable rate mortgage allows you to spread your loan over the course of up to 40 years. This means lower monthly payments to help you afford the home you love.

Ask your loan officer for more information.

Woman-With-Dog-Feature

Mortgage calculator

Estimate costs and determine how much you can afford.

Monthly Payment
Property Tax: 167
Homeowners Insurance: 100
HOA Fee: 0
Mortgage Insurance: 167
Loan Amount
$
$
Fixed Rate
%
Term Years
Advanced Options

More calculators

Explore these calculators to evaluate your purchase and refinancing options.

View Mortgage Calculators

FAQ

  • Our DreamStart Program is designed to help individuals and families purchase their first home by offering competitive interest rates, flexible terms, and personalized support throughout the buying process. Our goal is to make homeownership accessible and affordable for everyone.

  • Yes! We offer free mortgage consultations to anyone who is interested in buying a home. We can review your income history, financials, and credit score to determine what loan types and amounts might be right for you. Our loan officers are here to help and there are no obligations to apply for a loan. Contact us!

  • Absolutely! Getting preapproved is a great way to show real estate agents and sellers that you are serious about buying a home. Our team is here to help with pre-approvals and any documentation you might need. Learn more.

  • To qualify for our DreamStart Program, you must meet the following criteria:

    1. Be a first-time home buyer (you haven’t owned a home in the last three years with certain exceptions for displaced homemakers and single parents)
    2. Have a steady income and good credit history
    3. Meet the minimum credit score requirements
    4. Have the ability to make a down payment, which may vary based on the loan type
    5. Be a member of RCU or live within the area we serve

    To learn more about our first-time home buyer program, reach out to our team and we’d be happy to discuss what options might be right for you.

  • Yes, a down payment is typically required. However, the amount can vary depending on the loan type. Some loans may offer down payment assistance or require as little as 3% down for qualified buyers. Our team will guide you through the options to find a solution that works for you.

  • The timeline can vary, but typically the home buying process takes 30 to 45 days from application to closing. This depends on factors such as loan approval, property appraisal, and closing arrangements.

  • We love to help anyone get into a new home. Our loan officers are local to the area we serve, and would love to discuss options for your next loan. Low down payments, downpayment assistance, and no-closing cost loans are some of the solutions that might still be available to you as a current or previous homeowner. Reach out to us today and schedule a free no-obligation mortgage review!

Get ready to apply

Ready to make that home your own? Complete our simple online application.

Preapproval

Gain more buying power by filling out our online application before you begin house hunting.

Get Preapproved

Application

Complete our online application in as little as 15 minutes. And if you need more time, you can save your progress and return later.

Apply Now

Have a question?

If you have questions about any part of the home buying process, our mortgage experts are here to help. Schedule an appointment or give us a call at 1 (800) 609-9009.

  • Rate effective 8/27/24 and subject to change. Rate based on 780 credit score, owner occupied, single family residence. Certain restrictions may apply. Rate subject to periodic adjustments after closing. Estimated payment amount for $500,000 loan at 7.83% APR, with 40 year term and 75% CLTV is $3,107.16 (does not include taxes or insurance, actual payment amount may be greater). CA properties only. To be eligible for the DreamStart Home Loan program, borrowers must be a first-time home buyer or have not owned a home in the last three years. CA properties only.

Test Banner This is a test &&&&&& This is a test Learn More