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First-Time Homebuyers

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Here, homebuyers get a lot more than a great rate.

At Wings Financial, everything we do is focused on setting members up to succeed. That's why we offer one of the most comprehensive suites of home-buying resources you'll find, including free homebuyer education, HomeAdvantage® search support and cash rewards, plus friendly Wings service for the life of your loan.

13% minimum down payment available for new-purchase, 30-year fixed-rate mortgage for first-time homebuyers only and adjustable-rate mortgages (ARMs) for all borrowers. Additional third-party closing costs will apply.

2Additional third-party closing costs will apply. Please speak to a Loan Officer for details.

 3HomeAdvantage is available to you through your membership with Wings Financial Credit Union. Cash Rewards are available to members who register to use HomeAdvantage and who use a real estate agent in the HomeAdvantage network to buy or sell their home. Using Wings Financial for a mortgage is not a requirement to earn Cash Rewards. Cash Rewards amounts are dependent on the commissions paid to the agent. Wings Financial may have specific rules on how your Cash Rewards will be paid out. Cash Rewards are void where prohibited by law or the lender. Please consult with your credit union to get details that may affect you.

43% minimum down payment with no PMI available for first-time homebuyers' new purchase on all Adjustable-Rate Mortgages. Additional third-party closing costs will apply. No-PMI option rate is 0.25% higher than Adjustable-Rate Mortgage rates published at

540-year amortization available for first-time homebuyers’ new purchase on a 5/1 Adjustable-Rate Mortgage with a 10% minimum down payment. No-PMI option available with an additional rate add-on of 0.25%. Not available on jumbo loans. Membership with $5 Share Savings required before closing.

Compare your down payment options.

Loan Amount Total Down Payment











Adjustable-Rate Mortgage Rates

Adjustable-Rate Loan
(up to $726,200)
Purchase Rate
As Low As1
15/1 ARM - 30 Year 6.000% 6.051% $350,000 $2,098.43
10/5 ARM - 30 Year 6.000% 6.072% $350,000 $2,098.43
10/1 ARM - 30 Year 5.875% 5.947% $350,000 $2,070.38
7/1 ARM - 30 Year 5.250% 5.349% $350,000 $1,932.71
5/1 ARM - 30 Year 5.000% 5.135% $350,000 $1,878.88
5/1 ARM - 40 Year 5.250% 5.385% $350,000 $1,746.05

General Terms for all Loans:
1Rates are based on an evaluation of your credit history and other factors, so your rate may differ.
2The APR (Annual Percentage Rate) and monthly payment examples assume a 20% down payment and $1090.50 estimated borrower pre-paid finance charges. If the down payment is less than 20%, private mortgage insurance (PMI) may be required on the loan and could result in an increased APR and payment.

$950 loan origination fee - Additional third-party closing costs will apply.

Additional Adjustable-Rate Mortgage (ARM) Terms:
Adjustable-Rate Mortgage (ARM) rates are subject to change according to product terms.
ARM product with 10% down payment (90% LTV) with no PMI are subject to a rate add on of 0.125%.
ARM product with 3% minimum down payment (97% LTV) with no PMI are available to first-time home buyers only subject to a rate add on of 0.50%.
3% minimum down payment (97% LTV) available to all homebuyers on ARM products but is subject to PMI.

Membership with a $5 Share Account required.

Free homebuyer education

Prepare yourself for your homebuying journey with Wings Financial's home buying seminars, featuring knowledgeable real estate professionals. Plus, receive a $100 Wings Visa® Gift Card if you attend a home buying Seminar and use Wings for your mortgage!

Register Today

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Common Questions About Buying Your First Home.

See All FAQs

How do I know how much I can afford as a first-time homebuyer?

With Wings, you can get pre-approved before you start looking for your home, so you'll know how much you can afford.

How much of a down payment will I need as a first-time homebuyer?

Down payment requirements may vary by loan type. Wings offers more flexible options for first-time homebuyers. Learn more about programs for first-time homebuyers here

What is escrow?

An escrow account is a common feature of a mortgage loan. An escrow account makes it easier to pay necessary expenses on your property – like taxes and insurance – by incorporating them into your monthly mortgage payment, rather than paying them in lump sums.

What is Private Mortgage Insurance (PMI)?

PMI is typically required if your down payment is less than 20% of the home's value. It is designed to protect the lender in case you stop making payments on your loan.

Our Loan Officers are here to help.

Buying a home is one of the biggest purchases most people will make. Whether you're ready to apply or just gathering information, Wings Loan Officers are here to help answer your mortgage loan questions.

Contact Us Today

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