First-Time Home Buyers

First-time homebuyers can receive up to $7,500 in a down-payment grant that doesn't have to be paid back. Instead of scrambling to cover 3% of a home's down-payment cost (depending on your loan program), eligible BECU members need only come up with 1% – BECU pays the rest of the down payment. To offer an example, if you secured a home loan worth $300,000, your down payment would only be $3,000 instead of $9,000.

Home loans available under this program include conventional, fixed and a 5/5 ARM (adjustable rate mortgage). Learn more about the First-time Home Buyer Grant Program.

Origination fees are fees charged by a lender to cover the cost of processing the loan, typically 1% of the lean amount (e.g., pay $4,500 on a $450,000 loan). At BECU, we  know how hard it is to save for your home, and offer all our members no origination fees* on fixed-rate or adjustable-rate mortgage loans.

What do I need to get pre-qualified?

To help get you started with pre-qualifying, gather all of the materials on the Purchase Checklist.

A simple way to determine what you may qualify for (without having to submit all your personal information) is to use our mortgage calculators. This is a great option for members who aren't quite ready to begin the loan process, or those who just want to know what they can afford. Select the loan type and terms you're interested in and provide minimal information related to income, monthly debts and down payment. We'll run the numbers and let you know if you're pre-qualified.

Please note: A pre-qualification through the Mortgage Calculator is not a guarantee your loan will be approved, nor is it a commitment to lend. All information used to determine your pre-qualification must be verified by BECU.

BECU Home Rewards 

If you're just starting your search for your first home, Home Rewards** can help you navigate the process. This service connects you with a member advocate who then matches you with a knowledgeable agent in your area. They will help you find the perfect home for you, while the member advocate ensures you're getting everything you need during your search. Learn more about BECU Home Rewards.

BECU offers educational seminars for first-time homebuyers that will help prepare you for home ownership. When you attend a first-time home buying self-paced course, live seminar, or two-part webinar, we'll reward you with a $250 coupon*** that can be applied to your closing costs on a BECU home loan.

Learn more about BECU's Home Ownership Seminars