Saving for a down payment and closing costs can be a huge stressor for families looking to purchase their first home. At CFE we look for ways to add value to our member’s lives that help make their financial goals become a reality. This is why we are offering a First-Time Homebuyer Grant that provides access to matching funds to cover the costs of getting into your forever home.

For every $1 you contribute to the down payment and closing costs, you can receive up to $4 in matching funds, up to a maximum of $5,000. Paired with our First-Time Homebuyer mortgage, that grant can go a long way to reaching the minimum 3% of the purchase price down on a home.

Here are some of the other qualifications you must meet to participate:

  • Contribute at least $1,000 toward the purchase of the home
  • Occupy the home as a primary residence for at least five years
  • Complete a homebuyer education and financial literacy course

Features & Benefits of our First-Time Homebuyer Mortgage:

  • Fixed-rate 30-year term with interest rates starting at 4.625%*
  • As little as 3% of the purchase price down
  • No prepayment penalties
  • Affordable closing costs and down payment assistance
  • Earn rebates with our HomeAdvantage™ Program

 

*Rates valid as of February 5, 2018. Check current rates here.
View our Disclosure page here.

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