Community Resource Federal Credit Union
Community Resource Federal Credit Union

First Time Homebuyer


HomeSweetHome is a premier mortgage program offering an affordable, low, down payment financing solution tailored specifically for first-time homebuyers. With HomeSweetHome, achieve your dream of homeownership without breaking the bank. Let us guide you through the process and secure your path to your new home sweet home!


    Let CRFCU help you achieve the dream of Homeownership!

      Key Program Benefits

      • As little as 3% Down Payment
      • Up to 6% in Seller Concessions
      • Reduced PMI
      • Affordable Interest Rates
      • No Points
      • Loan Terms up to 30 Years

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      Key Program Requirements

      • Loan to be Retained in Portfolio by Credit Union
      • For Borrowers At or Below Area Median Income Limit
      • One or More Borrowers Must Be a First-Time Homebuyer
      • Homebuyer Education Course Required
      • Mandatory Escrow for Taxes & Insurance
      • Financing for 1-2 Unit Primary Residence
      • 660 Minimum Credit Score
      • 43% Maximum DTI

      First Time Homebuyer – HomeSweetHome

      Product Eligibility Matrix.
      Portfolio StatusRetained
      *Some loans may be non-saleable
      Borrower EligibilityOne or more borrowers must be first-time homebuyers
      (A first time homebuyer defined as a borrower that has not owned a
      home in the last 3 years)
      Income LimitsCombined borrower income not to exceed the Area Median Income
      Homebuyer EducationHomebuyer education required for all borrowers
      Loan PurposePurchase
      OccupancyPrimary Residence
      Loan AmountUp to conforming loan limit
      Property Eligibility1 to 2 Units, Condominiums, Double-Wide Manufactured Homes
      Loan TermFixed Rate, up to 30 Years
      Loan to Value Ratio'sMaximum 97% LTV for Single Family and Condo's
      Maximum 95% LTV for 2 Unit and Manufactured Homes
      Maximum 105% CLTV
      *Exceptions may be made by the credit union
      Credit ScoreMinimum 660
      *Exceptions may be made by the credit union
      Qualifying Ratio'sMaximum 43%
      *Exceptions may be made by the credit union
      EscrowMandatory escrow account for taxes and insurance
      PricingLoan level pricing adjustments waived
      PMIAvailable if seller concessions do not exceed 3%
      Automatic PaymentsFully executed ACH authorization required prior to closing