First-Time Home Buyer Loan
First-time home buyer benefits from low down-payment, reduced Private Mortgage Insurance, and discounted appraisal fee.
Low-Down-Payment Mortgage Loans
Down payment as low as 3%
30-year mortgage*
Conforming to $970,800******, fixed rate
4.375
%
(4.458% APR)
$XXX monthly payment✝
15-year mortgage*
Conforming to $970,800******, fixed rate
3.875
%
(4.013% APR)
$XXX monthly payment✝
3-year fixed-to-adjustable rate**
30 years, Jumbo******* ARM
3.500
%
(4.586% APR)
$XXX monthly payment
for first 3 years✝
5/5 hybrid ARM***
30 years, Jumbo******* ARM
3.625
%
(4.841% APR)
$XXX monthly payment
for first 5 years✝
- Special low down-payment options for first-time home buyer loans
- 97% loan-to-value up to $1,000,000
- 95% loan-to-value up to $1,500,000
- 90% loan-to-value up to $2,000,000
- 85% loan-to-value up to $2,500,000
- Reduced Private Mortgage Insurance (PMI) for first-time home buyers
- Flexible loan terms
- Fast closings
- Appraisal-fee refund up to $800 for first-time home buyers closing a Star One home loan by December 31, 2022
Make an appointment for a free in-branch mortgage consultation with our experienced staff.
Home Buying Webinars
If you missed our recent Home Buying Webinars, you can now view the recordings of them online!
Part 1—Loan and Financing
Join us as we discuss the home buying journey and dive into the mortgage financing process. View "Home Buying Webinar Part 1".
Part 2—Home Buying Process
Understand the home buying process from start to finish to help you navigate today's market and eliminate surprises. View "Home Buying Webinar Part 2".
- More Mortgage Rates
- Fixed-Rate First Mortgage*
as low as 3.625% (3.688% APR) - Adjustable-Rate Mortgage****
as low as 3.625% (4.453% APR) - Home Equity Line of Credit*****
as low as 3.500% (3.500% APR) - Investment Property Loans
as low as 4.000% (4.560% APR) - **Get mortgage rate details and more rates
Home refinance
Save money and refinance to lower your interest rate, or take cash out.
Lower your interest
Are mortgage rates now lower than your current Star One mortgage rate?
Mortgage rate-lock
Mortgage rates change continually—protect yourself against an increase.
First mortgage for primary residences
Cash out is available for refinance transactions up to 80% LTV.
Maximum loan:
- 97% LTV up to $1,000,000
- 95% LTV up to $1,500,000
- 90% LTV up to $2,000,000
- 85% LTV up to $2,500,000
- 80% LTV up to $3,000,000
- 75% LTV up to $3,500,000
- 70% LTV up to $5,000,000
- 80% LTV up to $3,000,000
- 75% LTV up to $3,500,000
- 70% LTV up to $5,000,000
First-Time Home-Buyer Program
- 97% LTV up to $1,000,000
- 95% LTV up to $1,500,000
- Ask a Loan Officer or Member Service Representative about lower mortgage insurance premiums and discounted appraisal fee
First mortgage for secondary residences or vacation homes
- Single-family residence only
- Purchase or limited cash-out refinance option
- Maximum $2,000,000 loan
- Maximum 70% LTV
Get connected with a real-estate agent
Find a home with our hand-picked agents.
Follow home listings online and save hundreds or even thousands of dollars at closing.
Disclosures
✝ Monthly payments may vary slightly from those quoted due to rounding.
* Fixed-rate mortgage payment examples assuming a $300,000 loan: 10-year mortgage at 3.688% APR—120 monthly payments at $2,984.70; 15-year mortgage at 3.936% APR—180 monthly payments at $2,199.60; 20-year mortgage at 4.175% APR—240 monthly payments at $1,837.50; and 30-year mortgage at 4.414% APR—360 monthly payments at $1,497.90. Loan payments do not include taxes and insurance.
** 3-year fixed-to-adjustable rate: Initial 4.586% APR is fixed for 3 years, then becomes variable based on an index and margin. For a 30-year loan of $300,000, you would make 36 payments of $1,347.30 at 4.586% APR, followed by 324 payments based on the then-current variable rate. Loan payments may increase and do not include taxes and insurance.
*** 5/5 hybrid ARM: Initial 4.841% APR is fixed for 5 years, then becomes variable based on an index and margin. For a 30-year loan of $300,000, you would make 60 payments of $ 1,368.30 at 4.841% APR, followed by 240 payments based on the then-current variable rate. Loan payments may increase and do not include taxes and insurance.
**** ARM mortgage loan rates may range from 4.586% APR to 4.287% APR during the initial fixed-rate period, which may be 3, 5, 7 or 10 years. The APR is subsequently variable, based on an index and margin, for the remainder of the 30-year term. For example, on a 30-year 3/1 ARM loan of $300,000 starting at 4.586% APR, you would make 36 payments of $1,347.30 during the initial three-year fixed-rate period. Loan payments do not include taxes and insurance.
***** Home-equity lines of credit rates may range from 3.500% APR to 4% APR. These rates are variable and the maximum APR that could apply is 18.000%. The maximum term is 25 years, which includes a 10-year draw period and a 15-year repayment period. For lines exceeding $250,000, closing and appraisal fees may apply in the range of $1,500 to $2,500. There may be an early closure fee of $500 for home equity lines closed within the first two years of origination.
****** In most of the country, the maximum conforming loan limit for one-unit properties is $647,200. In "high-cost" areas, the maximum conforming limit may be up to $970,800. The "high-cost" areas loan limits are established annually by the Federal Housing Finance Agency (FHFA). These higher limits are designed to make homeownership more affordable in areas with the highest home prices.
******* The Jumbo Loan limit is any amount greater than $647,200 up to $5,000,000. High-Balance Conforming allows for higher loan limits beyond the $647,200 conforming limit up to $970,800 for high-cost areas as determined by the Federal Housing Finance Agency (FHFA).