First-Time Homebuyers
We are here to guide you every step of the way, ensuring your home purchase is as smooth and stress-free as possible.
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
($1,178,750 for Santa Cruz County, $1,209,750 for San Benito County, and $970,600 for Monterey County) - No closing costs1
- Up to 97% LTV – as low as 3% down payment2
- Credited Appraisal Fee
- 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.
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 $1,178,750 in Santa Cruz County, $1,209,750 in San Benito County, and $970,600 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 $1,178,750 in Santa Cruz County, $1,209,750 in San Benito County, and $970,600 in Monterey County. Requires mortgage insurance approval. Property must meet specific occupancy and unit requirements. Some loan amounts only eligible for FTHB only.