JOIN US FOR A FREE
HOMEBUYER WEBINAR
Join us virtually on Wednesday, 6/7/23 at 5:30 pm
Our Mortgage experts will discuss what to expect during the home-buying process.
- Factors that will affect buying a home
- What lenders look for in a borrower
- Choosing the mortgage best for you
- The Homebuyer Dream Program
- Step-by-step tips
- And more
First-Time Home Buyer
Securing your first home is an exciting opportunity to start something wonderful. Maximize the good with a mortgage loan from TEG for your first home.
First-time home buyer loans provide a way of obtaining homeownership that gives everyone an equal start towards fulfilling dreams. By leveraging low-interest rates and flexible term lengths your new home is within reach!
- Low Rates
TEG offers the competitive rates that you need to make your new home affordable.
- Flexible Terms
Talk to us about your needs, and let’s find you the loan with the best fit for your situation.
- Low Closing Costs
Compare our closing cost to other lenders. You won’t find extra, hidden junk fees at TEG.
- Helpful Programs
We can connect you with a variety of programs to help you buy your first home.
Talk to us about your needs, and let’s find you the loan with the best fit for your situation.
Meet Our Mortgage Loan Officers
We are here to help you secure the loan approval you need! With an extensive background in mortgage lending, we are committed to helping you find the best possible financial solution. APPLY TODAY with one of our Mortgage Officers.
Sr. Mortgage
Loan Officer
NMLS# 22486
Phone: 845.790.6608
Cell: 845.656.7552
JessicaS@tegfcu.com
Apply Now
Sr. Mortgage
Loan Officer
NMLS# 404022
Phone: 845.790.6607
Cell: 914.589.9907
MatthewB@tegfcu.com
Apply Now
Sr. Mortgage
Loan Officer
NMLS# 404038
Phone: 845.790.6606
Cell: 845.728.4419
DarrenD@tegfcu.com
Apply Now
Mortgage
Loan Officer
NMLS# 1466211
Phone: 845.790.6605
Cell: 845.464.4692
JeffreyS@tegfcu.com
Apply Now
Get personalized, one-on-one service that is unequaled by other lenders.
Our Mortgage Loan Officers are here to help make the loan process as smooth as possible for you, and can help you:
• Compare your mortgage options
• Help you get pre-approved
• Complete your application
• Lock in your rate
• Get you to your closing with a smile
Our team has the expertise to walk you through these questions and more. We’ll start by getting to know you, then help you get you preapproved for the right loan so you know how much house you can afford. Our experienced staff will help you through the complicated mortgage process step by step.
From the moment you set a down payment to the instant you walk through your new front door, your first home should be as welcoming, fun, and carefree as possible. Low first-time home buyer rates with TEG FCU help you maximize your savings with each monthly payment. See for yourself below!
Today's Featured Conventional Mortgage & Refinance Rates*
| Term | Rate | APR | Points |
|---|---|---|---|
| 30 Year Fixed | 6.875% | 6.931% | 0.000% |
| 20 Year Fixed | 6.750% | 6.823% | 0.000% |
| 15 Year Fixed | 6.500% | 6.589% | 0.000% |
Today's Featured Adjustable-Rate Mortgage (ARM) Rates*
| Mortgage Type | Rate as low as | APR as low as | Points | First Cap | Subsequent Cap | Lifetime Cap |
|---|---|---|---|---|---|---|
| 5/6 ARM | 5.375% | 6.557% | 0.000% | +/- 2.00% | +/- 1.00% | +/- 5.00% |
| 10/6 ARM | 5.875% | 6.395% | 0.000% | +/- 5.00% | +/- 1.00% | +/- 5.00% |
Download our free guide
Download “The Comprehensive Guide to Finding, Buying an Financing a Home”, to provide you with the knowledge you need to start on the path to homeownership. Buying a home doesn’t have to be scary. Discover everything you need to know to help you buy a place you love – with a payment you can afford.
First-Time Home Buyer FAQ
Q: How much does my credit score matter as a first-time home buyer?
A: If you want to pursue a first-time home buyer loan such as an FHA loan, your credit doesn’t need to be flawless to get approved. Simply complete the application form and wait a few business days for a quick reply.
Q: As a first-time home buyer, do I need to make a down payment?
A: While some forms of financing do not require a down payment, supplying a small amount of money upfront can be an excellent way to lower interest rates and remove PMI. Experts suggest putting at least 20% down, if possible.
Q: What do I need to look out for as a first-time home buyer?
A: Ensure that the mortgage lender you are working with has your best interests in mind. Beware of terms that seem too good to be true, or high-interest rates in return for ‘quick’ money. Do your due diligence in researching options to protect your bottom line.
Have more questions? See our full list of mortgage FAQs here.
Let Us Take a Second Look and Get $100
If you are pre-approved by another lender, TEGFCU would like the opportunity to provide you with our own pre-approval decision so that you can compare and to thank you for taking a second look, we will give you $100.
First-time Homebuyer Dream Grant
TEG Federal Credit Union is excited to participate in the Homebuyer Dream Program, which offers eligible first-time home buyers assistance to purchase their first home.
This grant program is through the Federal Home Loan Bank of New York. Funds are available on a first-come, first-served basis. Income restrictions apply. The program starts on March 27, 2023.