An ecstatic husband and wife each hold a key to their new home financed with a special mortgage program.

Mortgage Programs

Special Mortgage Programs and Loans

Find the assistance you need. See if you’re eligible for a special mortgage program or loan.

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These special mortgage programs can help take some stress out of homebuying, so you can focus on getting home. And don’t worry, our mortgage lending partners will work with you to find the best programs and loan options for you. Let’s get started.

First-Time Homebuyer Product

The First-Time Homebuyer Product can help make buying your home more affordable. You may qualify if you’ve never owned a home or haven’t owned one in three years or more.

Qualified members could tap into a specific subsidy up to $12,500. (Funds are subject to change.)
Members must contribute $1,000 of their own funds towards the down payment and/or closing costs.
At the time of application and at closing, your household must have incomes at or below 80 percent of the area median income.
Homebuyers must complete the credit union’s prescribed homebuyer counseling, debt management planning, and default prevention program.

Keep in mind, the First-Time Homebuyer Product funds can run out quickly, so we recommend members apply for the program as early in the year as possible.

The funds can only be used with the Fixed-Rate Mortgage, not with the First-Time Homebuyer Mortgage or Adjustable-Rate Mortgage.

If you have questions or want to find out more about the program, contact our Experience Center.

A woman in her living room on her mobile phone is excited she could qualify for a special mortgage program to buy a house.

Community Partners Product

FHLBA’s Community Partners Product helps with home purchase assistance for essential workers and other qualified members, whether you’ve owned a home before or not.

Members must contribute $1,000 of their own funds towards the down payment and/or closing costs.
At the time of application and at closing, your household must have incomes at or below 80 percent of the area median income.
Homebuyers must complete the credit union’s prescribed homebuyer counseling, debt management planning, and default prevention program.
The maximum subsidy amount is $15,000. This amount may change annually.

Young couple touring a home and learning about community partners program

FHA Loans

The Federal Housing Administration (FHA) has loans designed to help low- to-moderate income people, often first-time homebuyers, become homeowners.

People aged 62 or older, those making energy efficient updates, and manufactured housing and mobile home buyers may also find FHA loans helpful.

These loans :

Have low down payment and closing costs.
Allow qualification with a lower credit score than traditional mortgages.

Speak with a Mortgage Center associate.

VA Loans

The Department of Veterans Affairs (VA) offers loan programs to help service members, veterans, and their families buy homes.

Qualified members may have the ability to finance up to 100% of the home purchase and get reduced closing costs
VA Loans may not require Private Mortgage Insurance (PMI)

The VA sets the terms for loan qualification and guarantees any loan made under the program.

The VA can help you determine benefits and eligibility and assist members with issuance of a Certificate of Eligibility (COE). If members have already bought and sold a home that was financed through a VA loan, their eligibility may be restored quickly.
Spousal status is evaluated the same for all borrowers. If members are applying for a VA loan with a co-borrower who is not their legal spouse, the VA requires specific underwriting requirements.
Member veterans and current service members can access their eligibility online. Registration is free, immediate, and provides information on many benefits for service members, veterans, and their families. With your COE, you have evidence that the VA will “stand behind” your loan. Obtaining a COE does not guarantee approval.

Home loans that get you moving

Mortgage Loans

Let’s get you settled. Check out our mortgage options and find the loan that works for you.

Adjustable-Rate Mortgage

An adjustable-rate mortgage (ARM) is a home loan that adjusts your rate after a period of either 5 or 10 years, depending on which ARM you choose.

learn more

Fixed-Rate Mortgage

With a consistent interest rate for the entire term of your loan, our fixed-rate mortgage lets you settle in with peace of mind.

learn more

Visit the Mortgage Center

We've partnered with the Credit Union Mortgage Association (CUMA) for a streamlined homebuying process. Apply online through the Mortgage Center and a CUMA agent will reach out to you to talk next steps to prequalification.

For the best member experience, use the Mortgage Center with a computer.

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