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First Time Home Buyer

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First Time Home Buyer




DOCUMENT CHECKLIST
Download our list of documents you'll need.


SEND US A MESSAGE AT
mortgageoriginating@cinfed.com


SPEAK WITH A SPECIALIST
Call us at (513) 333-6337.

Who is a first time home buyer?
We consider a first time home buyer to be anyone who has never owned a home, or who has not owned a home within the last 3 years.


Where should I start?
Purchasing your first home can be both exciting and overwhelming. We are here to help guide you to a solution that is a healthy balance between your budget and long term home ownership goals. Send us a message to get started.


Common Loan Options

CONVENTIONAL LOAN

Our conventional loan is a tailored mortgage program that addresses typical first time buyer challenges. We offer a minimum 10% down payment for qualifying applicants and a 7 year ARM that gives you flexibility with your monthly payment.

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PIGGY BACK LOAN (80/10/10)

For qualifying buyers, we have a unique loan option available described as a "piggy back loan". Typically, this loan is used by prospective home buyers to avoid paying private mortgage insurance. Both loans are tax deductible, and you are only required to pay interest payments on the smaller loan, functioning similarly to a HELOC.

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FIXED-RATE VS. ADJUSTABLE RATE MORTGAGE

The interest rate on mortgage loans is primarily structured in one of two ways - either through fixed payments or variable payments. The fixed payment method is known as a fixed-rate mortgage and uses a single, unchanging rate to determine the interest paid back on a mortgage loan. The variable rate structure is known as an Adjustable Rate Mortgage, and is slightly more complex, with a rate that changes according to the existing market interest rate.

When evaluating mortgage loan options, it is important to understand the difference between these two options to ensure your payment plan aligns best with your long term budget and home ownership goals.

Learn More



‌‌Apply Now
Ready to begin your new journey? Let's get started.


Download Document Checklist

Review the documents you'll need throughout the process.


‌‌View All Rates & Mortgage Options
Take a look at current rates and additional loan options


Mortgage Education Center
We have the answers you're looking for.


‌‌The Mortgage Process
Download our Home Purchase Loan Guide for an overview of the homebuying process.

NOT A MEMBER?
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GET STARTED TODAY.

GET PREQUALIFIED.
Start gathering the documents you'll need.
DOWNLOAD OUR DOCUMENT CHECKLIST



CONTACT CINFED

Cinfed Credit Union
4801 Kennedy Avenue
Cincinnati, OH 45209
(513) 333-3800
Routing #242076656

MEMBER REVIEWS

They always go above and beyond at the Oakley branch and truly care about each of their members. And, I absolutely love their kids' membership program. It makes it fun for them to learn about money... 
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Emily Snyder took the best care of my two auto loans. She was professional, courteous and very knowledgeable of the available services for me. She went out of her way to make sure I felt like I was... 
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I have been a Cinfed member for years. I know I can depend on them to provide excellent service. The bill pay on line is great and every time I visit the Florence branch I am met with friendly... 
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