Skip nav to main content.
Apply Now
Home Loans for First-Time Home Buyers

Your journey to home sweet home begins here

From preapproval to closing day, we’ll help with every step of your first home purchase.

Apply for a Mortgage Loan Get Preapproved

Tell us where you are in your home buying journey.

I'm still learning about the process.

Let us help break down the lingo, discuss mortgage options, and answer your questions.

Start Learning
I'm preparing to make a purchase.

Use our calculator to estimate monthly costs, gather the documents you need, and conveniently search for a local agent.

Prepare for a Purchase

Ready to apply?

Once you have the necessary documents ready, apply online here or in person at your local branch.

Apply Now

Learn More

Take the first steps to home ownership by learning what to expect throughout the process.

Article Icon

The Power of Getting Preapproved

Learn the benefits of getting preapproved to show the seller you're serious and get more negotiating power.

Learn More
House and key icon

The Home Buying Process in 7 Steps

Learn what to expect in the home buying process with this simple 7-step summary.

Read More
House icon

Home Buying Guide

Get more comprehensive information about the home buying process in this easy-to-understand resource designed specifically for first time buyers.

Explore the E-Book
Book icon

Mortgage Learning Center

Empower yourself with knowledge by looking through our specially curated collection of helpful resources.

Get Started

Video

How does an ARM work?

Learn how an adjustable rate mortgage (ARM) works and why it might be a good loan for you.

Prepare for a Purchase

Set yourself up for success by getting everything in order before you apply.

Checklist icon

Application Checklist

Make sure you have all the right documents and information prepared before you begin the application process.

Get Checklists
House icon

HomeAdvantage®

Connect with experienced, trustworthy agents – and earn cash rewards at closing.

Get Connected
Featured Home Loan

No-Closing-Cost Option

Designed with you in mind, our no-closing-cost option can help make the initial cost of a home more affordable. Plus, our competitive rates will allow for more cash flow in the initial years of your loan.

View Rates
Woman drinking coffee on porch

See More First-Time Home Buyer Loans & Rates

Take advantage of our programs created with first-time buyers in mind. And if you need help choosing, we’re here to help.

Fixed-Rate Mortgages

Lock in a low rate and keep it for the life of your loan. Ideal for those who enjoy consistent monthly payments.

View rates

HomeReady®

Make your purchase with confidence. For those buying for the first time, this home loan offers added convenience and flexibility.

View rates

Mortgage Calculator

Estimate costs and determine how much you can afford.

Monthly Payment
Property Tax: 167
Homeowners Insurance: 100
HOA Fee: 0
Mortgage Insurance: 167
Purchase Amount
$
$
Fixed Rate
%
Term Years
Advanced Options

This calculation represents an estimate

More Calculators

Explore these calculators to evaluate your purchase and refinancing options.

View Mortgage Calculators

Get Ready to Apply

Ready to make that home your own? Complete our simple online application.

Preapproval

Gain more buying power by filling out our online application before you begin house hunting.

Get Preapproved

Application

Complete our online application in as little as 15 minutes. And if you need more time, you can save your progress and return later.

Apply Now

Have a question?

If you have questions about any part of the home buying process, our mortgage experts are here to help. Schedule an appointment or give us a call at 1 (800) 609-9009.

Schedule Appointment Call Us

  • RCU mortgages are available on CA properties only.

Advanced Options

Property Tax Rate

The tax that you are required to pay as a property owner levied by the city or municipality. Lookup your county rate or state average rate for a more accurate calculation.

%

Homeowners Insurance (Monthly)

The standard insurance policy that covers damage to your property and the things you keep in it. The average annual homeowners insurance premium is around $1,200.

$

HOA Fees (Monthly)

These are dues that are used by a homeowners association toward maintenance of common areas used by all homeowners in a housing development or complex.

$

Private Mortgage Insurance Rate

The premium for the insurance policy for FHA loans and conventional mortgages if your down payment is less than 20%. PMI typically costs between 0.5% to 1% of the entire loan amount on an annual basis. Only calculated if down payment is less than 20% of mortgage amount.

%

Disclosure

This calculation represents an estimate. Calculation does not factor credit score. Default input values are estimates.

Contact Us

Schedule an appointment

Meet with a mortgage specialist to choose what’s right for your needs.

Schedule Appointment

Contact our mortgage team

Fill out our contact form and we will be in touch soon.

Contact Us

HomeReady®

HomeReady®

Apply Now

Interest Rate

as low as %

APR

as low as %

Term

up to 30 years

Disclosures

Certain restrictions may apply. Maximum Combined Loan to Value (CLTV) for rates listed above is 95%. Maximum CLTV for investment (non-owner occupied) is 80%. Rates and max CLTV assumes property is a single unit, primary residence, non-manufactured home.

No-Closing-Cost Option

No-Closing-Cost Option

Apply Now

Interest Rate

as low as

APR

as low as

Term

up to 30 years

Disclosures

Certain restrictions may apply. Maximum Combined Loan to Value (CLTV) for rates listed above is 95%. Maximum CLTV for investment (non-owner occupied) is 80%. Rates and max CLTV assumes property is a single unit, primary residence, non-manufactured home.

Fixed-Rate Mortgages

Fixed-Rate

Apply Now

Interest Rate

as low as %

APR

as low as %

Term

up to 30 years

Disclosures

Certain restrictions may apply. Maximum Combined Loan to Value (CLTV) for rates listed above is 95%. Maximum CLTV for investment (non-owner occupied) is 80%. Rates and max CLTV assumes property is a single unit, primary residence, non-manufactured home.

PPP Forgiveness Application Deadline

Congress passed The Economic Aid Act which changed the deferment period from 6 months post covered period to 10 months post covered period. For example, if your covered period ended June 30, 2021, under the new guidelines the earliest your first loan payment wouldn’t be due until April 2022, and you have until then to request forgiveness. Please use the following calculation to help you identify when your forgiveness will be due:

  • PPP borrowers may select a covered period anywhere from 8 weeks to 24 weeks.
  • RCU is automatically calculating your loan due date based on a 24-week covered period, if you intend on using a shorter covered period please inform us immediately as this will impact your due date.
  • Your correct deadline will be reflected in your online banking account.

If all or part of your PPP loan is not forgiven, your first loan payment will be due the first of the following month after a decision is made by the SBA.

Leaving Our Website

You are leaving our website and linking to an alternative website not operated by us. Redwood Credit Union does not endorse or guarantee the products, information, or recommendations provided by third-party vendors or third-party linked sites.

Login to Online Banking