First-Time Homebuyers
First-Time Homebuyers who finance through Bay Federal save an average of $4,000* in closing costs!1
Make Homeownership Your Reality
Financing your home can be challenging. Bay Federal is a home lending partner here to make your financing journey simpler.
- Owner Occupied
- First-Time Homebuyer (has not owned a property in the past 3 years)
- 680+ qualifying score
- Loan Amount up to High Balance limits
($1,149,825 for Santa Cruz and San Benito County, and $920,000 for Monterey County) - Up to 97% LTV – as low as 3% down payment2
- No closing costs1
- Free Appraisal
- ITIN lending available
Home Loans for California
If you would like a Bay Federal Home Loan Consultant to contact you, please submit the following information. Please know we can only assist with home purchases in the state of California.
All loans are subject to approval of credit, income verification, assets, and property valuation. Bay Federal Credit Union membership required. For more information, visit any Bay Federal Credit Union branch or call a Bay Federal Home Loan Consultant at 831.479.6000, or toll-free at 888.4BAYFED, extension 8304. Bay Federal Credit Union is registered with the Nationwide Mortgage Lending System (NMLS). Bay Federal Credit Union ID #403635.
*Closing cost savings based on average loan amount of $458,100. Annual Percentage Rate (APR) of 6.375%, on a 30 year fixed First-Time Home Buyers Program. Actual savings may vary.
1No closing costs include lender fees, appraisal fees, title fees, and escrow fees. First-Time Homebuyer Program available to those that have not owned a property in the last three years. Offer valid on owner-occupied single-family residences for those with a credit score of 680+. Maximum loan amounts up to $1,149,825 in Santa Cruz and San Benito Counties, and $920,000 in Monterey County. Mortgage insurance required for loan amounts greater than 80% loan to value. Offer applicable on purchase transactions in the State of California. Offer not available on refinances. Other restrictions may apply. Terms and conditions are subject to change without notice. All loans are subject to approval of credit, income verification, and property valuation. Bay Federal Credit Union membership required at the time of closing. For more information visit any Bay Federal Credit Union branch or call a Bay Federal Home Loan Consultant at 831.479.6000 or toll-free at 888.4BAYFED, extension 8304. Bay Federal Credit Union is registered with the Nationwide Mortgage Lending System (NMLS). Bay Federal Credit Union ID #403635.
297% financing is available to qualified first-time home buyers with a credit score of 620 or greater who meet underwriting approval and eligibility criteria. Loan amounts up to $1,149,825 in Santa Cruz and San Benito Counties, and $920,000 in Monterey County. Requires mortgage insurance approval. Property must meet specific occupancy and unit requirements. Some loan amounts only eligible for FTHB only.