Homebuying is easier with our first-time mortgage programs.
Buying your first home can be overwhelming, but with our tailored mortgage programs, we make it easier for you. From understanding your options to securing the best rates, we’re here to guide you every step of the way.
Get a 0.25% rate discount when buying your first home3
Our experts will help you navigate the homebuying process
Which mortgage option is right for you?
| FHA Loans | Fixed-Rate Mortgages | Adjusted-Rate Mortgages (ARMs) |
|---|---|---|
| More lenient income and credit requirements | Choose a term that works for you | Choose from 3/1, 5/1, 7/1 or 10/1 ARMs |
| Put as little as 3.5% down2 | Down payments of 5% to 20%2 | Down payments of 5% to 20%2 |
| Up to 100% of your down payment can be a gift from a family member or friend | 0.25% rate discount for first-time homebuyers or Baltimore City home purchases3 | 0.25% rate discount for first-time homebuyers or Baltimore City home purchases3 |
| Learn More | Learn More | Learn More |
Disclosures
1Conventional loan rates, based on an 80% loan-to-value ratio. Rate is current as of September 16, 2024, and subject to change. Your actual rate may be higher based on your credit score, loan amount, repayment term, collateral, credit history and ability to repay. Subject to verification of collateral. Adequate property and flood insurance is required. MECU membership required.
2 Minimum down payment varies by mortgage program. Private Mortgage Insurance may be required on loans with a down payment less than 20%.
3 Buying Into Baltimore and First-Time Home Buyer rate discounts are not available on all loan types. Discounts cannot be combined. Certain conditions apply.