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FIRST-TIME HOMEBUYER MORTGAGE — ONLY 3% DOWN REQUIRED

If you've been waiting until you have 20% saved, you may be waiting longer than you need to. Selfreliance FCU offers a conventional fixed-rate mortgage with only 3% down — as little as $9,000 on a $300,000 home — with no income restrictions and flexible down payment sources including gifts and assistance programs.

3% Down — Standard Option

Open to members at every income level — no earnings cap or minimum

  • As little as 3% down - that's $9,000 on a $300,000 home
  • There are no Area Median Income (AMI) restrictions limits
  • One-unit principal residence (For the home you'll actually live in - not a rental or investment property)
  • Private Mortgage Insurance (PMI) is required
  • Homeownership Education is required in some cases
  • At least one person on the loan must be a first-time buyer, and all borrowers must occupy the property1
  • Your payment stays the same every month — fixed rate, up to 30 years
  • Down payment can come from personal savings, gifts, or other eligible sources

QUESTIONS?

WE HAVE ANSWERS

What is mortgage insurance?

When you put less than 20% down, lenders require Private Mortgage Insurance (PMI) — a monthly fee that protects the lender. Your specialist will walk you through exactly what to expect in your monthly payment.

How long does the process take?

Many members receive a pre-qualification decision within a few business days. From pre-qualification through loan application to closing, the process typically takes 30–45 days.

Do I need to be a Selfreliance FCU member?

Yes — joining takes a few minutes. Ask about membership when you speak with a specialist.

READY TO TAKE THE FIRST STEP?

Buying a home is one of the biggest decisions you will ever make. You do not have to figure it out alone. Our mortgage specialists are here to listen, answer your questions, and help you find the right path forward - in English or Ukrainian, free of charge.

Call 888-222-8571 or book your appointment online today.

Disclosures
1 Mortgages with down payments as low as 3% (up to 97% loan-to-value, or LTV) are available only for owner-occupied, one-unit primary residences. Private mortgage insurance (PMI) is required for loans with less than a 20% down payment. For example, a $300,000 30-year fixed-rate purchase mortgage with 97% LTV has an Annual Percentage Rate (APR) of 6.531% and a repayment schedule of 360 monthly payments of approximately $1,969.72,which includes PMI. Monthly payment amount does not include any property taxes, homeowners' insurance premiums, and homeowners association (HOA) fee; the actual payment will be greater when such items are included. Subject to approval of application. APR is based on an assessment of individual creditworthiness and our underwriting standards. All Selfreliance FCU loan programs, rates, terms, and conditions are subject to change at any time without notice.

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