First Time Homebuyer Relax … it’s time to get moving.

It’s not always the right time to buy a home – and that’s ok! Sometimes after reviewing your financial situation and goals, it’s better to continue your current path.

As a First Time Homebuyer, you may need to establish your credit more before purchasing your first home. Building your credit takes some work, but taking out an auto loan or using a credit card regularly and making regular payments could help build your credit.

No matter what happens on your path to homeownership, Founders is here to answer your questions every step of the way. Our Mortgage Loan Officers will be honest with you and you can trust they are working for you and in the best interest for your future. To speak with a Mortgage Loan Officer call 800-845-1614.

How much home can I afford?

Click here to use our loan calculators and find out how much home you can afford. As a general rule of thumb, the purchase price of your home should not be higher than three times your annual household income.

How much house do I need?

Determining how many bedrooms, how big of a backyard and how much space you need are a few things to consider before beginning your home search.

What kind of home do you want to buy?

There are many types of homes – a home in a neighborhood, a townhome in a development, a condo in a building, and many more. Knowing the type of home you want to buy is important so you can understand the additional fees you may incur. Homes in neighborhoods could have Homeowners Association dues, which could be a costly expense.

What can’t I buy with Founders First Time Homebuyer Program?

Our First Time Homebuyer Program does not include mobile homes or building a custom home. We do have products available for these types of homes and a Mortgage Loan Officer will be glad to help you find the right product for you. To speak with a Mortgage Loan Officer call 800-845-1614.

What other responsibilities come with home ownership?

As a homeowner, you are responsible for all aspects of that home – the home itself, the yard or land the home is on, and all the things that make the home function. This includes appliances, heating and cooling units and more. It’s always a good idea to have extra money in savings and available in case one of these expensive items needs to be repaired or replaced.

Build equity

You can build equity in your home and increase your overall financial assets if your property value increases.

Tax Benefits

You may be able to deduct mortgage interest and property taxes for tax benefits. Consult with your tax advisor regarding tax deductibility.

Build credit

You can build your credit by making your mortgage payments on time.

Make sure you are financially prepared.

Saving for a down payment for buying a house can take years, but remember the higher your down payment is, the less you will need to finance. Founders First Time Homebuyer Program only requires the applicant has a minimum of $1,000.00 in the transaction. This minimum includes closing costs, prepaids or a down payment.

Review your current financial bills and debts.

While securing your mortgage loan, it’s a good idea to pay outstanding bills and not take out any new debt.

First Time Homebuyer Program

• 100% Financing
• No PMI (Private Mortgage Insurance)
• No origination fee or discount points
• Up to $350,000 maximum loan amount
• Check our current loan rates

Adjustable Rate

• With an adjustable rate, mortgage payments are typically lower at the beginning of the loan term, but could increase at specified times during the life of the loan.
• Interest Rate can change throughout the life of the loan and can go up or down, based on current market conditions.

Even if you apply for your Mortgage Loan online, a Mortgage Loan Officer will reach out to you regarding the details of your request and to review your credit report. Our trained Mortgage Loan Officers are also able to review your situation and make sure you are getting the right Mortgage for your financial situation.

To keep the application process as smooth as possible, be sure you sign and return any required documents to your Mortgage Loan Officer quickly.

Our Mortgage Loan Officers will continue to communicate with you every step of the way including when appraisals need to be scheduled, when your closing appointment will be and any actions you need to take to get in the home of your dreams.

To speak with a Mortgage Loan Officer, please call 800-845-1614

Apply Now

Managing your Founders Mortgage is easy! You can conveniently access and pay your Mortgage in Founders Online or by visiting an office near you. If you have questions regarding your Mortgage Loan, our Mortgage Loan Officers are always available to assist you.