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First-Time Homebuyers

Helping First-Time Homebuyers make their move.
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    For every reason you want a home, we have a way.

    Your own space. A big backyard. A heated garage. No matter what motivates you to buy your first home, Wings can help you make the move into homeownership. We'll be by your side every step of the way – with knowledgeable, helpful Loan Officers, free homebuyer education, and friendly Wings service throughout the life of your loan.

    Free homebuyer education for you.

    Prepare yourself for your home buying 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. However, at Wings, first-time homebuyers can put as little as 3% down with a 30-year fixed-rate mortgage.

    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.

    The down payment difference.

    Percentage Down Loan Amount Total Down Payment

    3%

    $200,000

    $6,000

    10%

    $200,000

    $20,000

    20%

    $200,000

    $40,000

     

    Let us help you get the financing you need.

    We make it easy to apply for a mortgage. Apply today using our simple, online application and a Loan Officer will work with you to finalize your loan.

    Apply Now

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    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. 

    3The HomeAdvantage program is made available to you through a relationship between Wings Financial Credit Union and CU Realty Services. Program Cash Rewards are awarded by CU Realty Services to buyers and sellers who select and use a real estate agent in the HomeAdvantage network. Home buyers or sellers are not eligible for Cash Rewards if they use an agent outside this network. Using Wings Financial Credit Union 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 Credit Union may have specific rules on how your Cash Rewards will be paid out. Cash Rewards incentives are available in most states; however, are void where prohibited by law or by the lender. Please consult with your credit union to get details that may affect you.

    APR = Annual Percentage Rate.
    Payment Example – The APR and monthly payment examples assume a loan amount of $200,000, a 3% down payment, 360 total monthly payments, and $1,089 estimated borrower pre-paid finance charges. Monthly payment amount of $969.30 assumes a rate of 4.125% and 4.171% APR for a 30-year fixed rate. For example purposes only; rates are subject to change without notice. If the down payment is less than 20%, mortgage insurance may be required on the loan and could result in an increased APR and payment.