First Time Homebuyer
Relax … it’s time to get moving.
Purchasing your first home can be intimidating, scary and stressful. If you are purchasing your first home in South Carolina or North Carolina, our First Time Homebuyer Program may be the perfect fit for your mortgage needs.
- Adjustable Rate Loan options with initial rate unchanged for first 7 years
- Upon first 7 years of the loan, the rate will adjust annually up to 2% per adjustment and 6% over the lifetime of the loan
- Fixed Rate Loan option not available with First Time Homebuyer Program
- Double Wide Manufactured Homes do not qualify for our First Time Homebuyer Program
- Mortgage Vocabulary
- Founders Mortgage Loan Originators
Rates and terms vary depending on the type of loan, loan to value ratio, credit evaluation and underwriting requirements. APR is subject to increase or decrease. Pay only 4.27% APR on your first mortgage loan with 360 monthly payments of $295.27 for each $60,000.00 borrowed. The payment can increase to $467.93 in the 10th year of the loan. Up to 100% LTV and no origination fee. Flood, property insurance, and taxes, if applicable, are not calculated in the payment example. Actual payment obligation will be greater if an escrow account is required. All loan programs, rates, terms, and conditions are subject to verification of information, your credit history, the location and type of property and other factors as determined by the Credit Union and may change at any time without notice.
1 Offer for no origination fee is only available for specific mortgage products for first time home buyers.
2 Founders Insurance Services offered through Founders Financial Group, LLC, doing business as Founders Insurance Services. Insurance products not underwritten by Founders Financial Group, LLC, or any affiliated company.
Not NCUA Insured - No Credit Union Guarantee - May Lose Value - Not Deposits - Not Insured by any Federal Government Agency.
Estimate your affordability so you know your price range.Which Mortgage is better for me?
Compare the cost of up to three mortgages.