First-Time Homebuyer Guide
Build Your Homebuying Knowledge
Buying your first home doesn’t have to feel overwhelming. Get clear guidance, practical tools, and expert support to help you move forward with confidence – from planning to closing.
FIRST-TIME HOMEBUYING BASICS
Buying your first home is a major milestone, and having the right information can make all the difference.
At Call Federal Credit Union, we guide first-time homebuyers through every step of the process, helping you understand your options, prepare financially, and choose a mortgage that fits your goals.
FIRST-TIME HOMEBUYER RESOURCES
Our first-time homebuyer resources are designed to simplify the process and keep you on track. From step-by-step checklists to one-on-one guidance, you’ll have everything you need to make informed decisions and move forward with clarity.
Mortgage Application Checklist
Our first-time homebuyer checklist helps you stay organized and prepared throughout the mortgage process. From gathering financial documents to tracking key milestones, this checklist ensures you don’t miss an important step along the way.
Mortgage Team
Buying your first home is easier with experienced professionals by your side. Our mortgage team specializes in working with first-time buyers, offering personalized guidance, clear explanations, and trusted advice from application to closing.
Financial Wellness Coaching
Strong financial preparation is the foundation of successful homeownership. Our Financial Wellness Coaches help first-time buyers understand credit, budgeting, and long-term affordability, so you’re prepared not just today, but for years to come.
BENEFITS OF CHOOSING CALL FEDERAL FOR YOUR FIRST HOME
As a first-time homebuyer, you deserve flexible options and real support. Call Federal Credit Union offers competitive mortgage solutions and programs designed to make homeownership more accessible.
The Right Mortgage
Explore a variety of mortgage options, including conventional, FHA, VA, and more, to find a loan that fits your budget, goals, and long-term plans.
No Application Fees
Take another expense off your list. When you finance your home purchase with Call Federal, there’s no application fee—helping you keep more money available upfront.
No Prepayment Penalties
Enjoy the freedom to pay off your mortgage early or make extra payments at any time, with no prepayment penalties or added costs.
Rate Match Program
Call Federal will match a competitor’s interest rate with a valid Loan Estimate dated within 48 hours of the requested match date.1
Grant Programs
We partner with the Federal Home Loan Bank of Atlanta to offer First-Time Homebuyer Grants (up to $17,500) and Community Partner Grants (up to $20,000). These programs help qualified buyers with down payment and closing costs. Ask us for details.
100% Financing
Qualified members may purchase a primary residence with no down payment required. This program has no income limits or prior homeownership restrictions.2
FIRST-TIME HOMEBUYING FAQS
Still have questions about your first home? Our mortgage experts are here to walk you through what comes next.
Call Federal Credit Union offers a variety of mortgage options for first-time homebuyers, including conventional loans, FHA loans, VA loans, and more. Our mortgage experts will help you learn about available programs and choose the option that best fits your financial situation and homeownership goals.
A mortgage pre-approval at Call Federal Credit Union is typically valid for 90 days. This gives you ample time to search for the right home with confidence.
If your pre-approval expires before you find a property, you can request a renewal by providing updated financial information. Contact our mortgage team for assistance or more details!
Down payment requirements vary by loan program. Some first-time homebuyer options may require as little as 3% down, while qualified buyers may be eligible for programs offering even more flexibility. Our mortgage team can help you go over down payment options and potential grant programs.
Affordability depends on factors such as your income, monthly debt, credit profile, and available savings. A good rule of thumb is to consider your full monthly housing costs, not just the mortgage payment. Getting pre-approved is one of the best first-time homebuying tips, as it provides a clear, realistic budget before you start shopping.
Private Mortgage Insurance, or PMI, is typically required when a borrower puts less than 20% down on a conventional loan. PMI helps protect the lender and may allow you to buy a home sooner with a smaller down payment. PMI can often be removed once you build enough equity in your home.
Ask the Mortgage Team
Our team is here to guide you every step of the way. Fill out the form below to get the expert advice and support you need.
"*" indicates required fields
Disclosures
-
1Rate Match Program is only available on conventional Call Federal loan products and must be for a primary residence. 100% financing loans are not eligible for the Rate Match Program. A completed Loan Estimate required within 48 hours for Rate Match to be considered. Terms and conditions apply. Not all will qualify.
2100% financing available for qualified borrowers, subject to credit approval and private mortgage insurance. Closing costs still apply. Offer only for the purchase of a primary residence in the state of Virginia. Maximum loan amount is $500,000. Additional restrictions may apply. This offer is subject to change or termination at any time without notice.
We do business in accordance with the federal fair housing lending laws.
Call Federal Credit Union is an Equal Housing Lender licensed by the National Mortgage Licensing System under NMLS #407823.