Best Mortgage for First-Time Buyers: Make Homeownership a Reality With Heartland Credit Union
Buying a home for the first time can feel overwhelming, but with our friendly and experienced lenders, low first-time homebuyer interest rates, closing cost discounts, and more, you can affordably purchase your first house.
Today's first-time homebuyer rates
View rates30 Year Fixed
As low as5 YR HCU ARM
As low as7 YR HCU ARM
As low as
Save $500 on closing costs!
First time home buyers may be eligible for a closing cost credit of $500*
Conditions
Experienced mortgage lenders
We have experience providing the right mortgage option to many first-time homebuyers, so you can trust that you'll get approved as fast as possible.
Low or no down payment
At Heartland, you may not need to have saved a 20% down payment, so you can purchase a home sooner.
Low rates
Whether you get a fixed or variable mortgage loan, competitive rates ensure that your monthly payments are affordable, and you'll save money on interest over the life of the loan.
Special promotions for first-time buyers
We try to make home buying easier and more affordable for those new to the process so first time homebuyers will enjoy discounted closing costs.
Quick closing times
We want you to get your home as soon as possible, so we reduce the hassle by offering the fastest possible closing date.
Have a question?
Jeff R., VP of Mortgage Lending
NMLS #517356
Come meet our amazing team. We’re excited to help get you into your first or dream home or refinance your current mortgage. We’ll guide you on the best mortgages for first-time buyers in Wisconsin and other Heartland Credit Union budget-friendly home loans that fit your needs.
Estimate your payment
Let's see what your monthly payment could be.
Homeowners Insurance: 100
Mortgage Insurance: 167
First-time homebuyers save $500 on closing costs*
From having low or no down payment programs, low monthly rates for fixed or variable loans, or discounts on closing costs for first-time homebuyers, we strive to provide first-time homebuyers a mortgage with affordable payments that allow you to save on interest over the lifetime of the loan.
April was great to work with! It was a wonderful experience for my first mortgage loan. It was a lot easier than what I expected!
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Complete an application
Apply directly online or visit one of our branch locations to speak with us in-person.
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Get approved
We will review your application and notify you as soon as possible with the approval status of your mortgage.
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Start shopping
Once approved, you can start shopping for your first home.
Apply today and make your homeownership dream a reality
We offer the best mortgages for first-time buyers along with multiple mortgage options with fast pre-approvals and quick closing times to help you get into a home while saving you time and money.
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*Offer valid for first-time buyers only. An individual is to be considered a first-time home buyer who (1) is purchasing a property; (2) will reside in the property as a principal residence; and (3) has had no ownership interest (sole or joint) in a residential property during the three-year period preceding the date of the purchase of the property. The discount will be applied at closing as a lender credit and reflected on the Closing Disclosure. This offer excludes, WHEDA, lot/land loans, and construction loans. Offer is subject to credit approval and underwriting and is subject to change without notice. Mortgage insurance is required for transactions over 80% LTV. No other discounts apply; cannot be combined with any other offers. Contact us for details.
APR is Annual Percentage rate. Rates are subject to change without notice. For adjustable rate loans, payment, rate and APR may increase after loan consummation. Contact us for details.
Display rates assume a $150,000 loan amount and a $250,000 value ( 40% net equity ), minimum credit score of 740, single family owner occupied Wisconsin property.
This page is for informational purposes only. Credit score, loan purpose, property type, occupancy status, loan to value, loan amount and debt to income can affect rates and fees. Always get an official Loan Estimate before choosing a loan.
Heartland Credit Union NMLS 421437
Advanced Options
Property Tax Rate
The tax that you are required to pay as a property owner levied by the city or municipality. Lookup your county rate or state average rate for a more accurate calculation.
Homeowners Insurance (Monthly)
The standard insurance policy that covers damage to your property and the things you keep in it. The average annual homeowners insurance premium is around $1,200.
HOA Fees (Monthly)
These are dues that are used by a homeowners association toward maintenance of common areas used by all homeowners in a housing development or complex.
Private Mortgage Insurance Rate
The premium for the insurance policy for FHA loans and conventional mortgages if your down payment is less than 20%. PMI typically costs between 0.5% to 1% of the entire loan amount on an annual basis. Only calculated if down payment is less than 20% of mortgage amount.
Disclosure
This calculation represents an estimate. Calculation does not factor credit score. Default input values are estimates.
Rates
First-Time Homebuyer rates
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30 Year Fixed |
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20 Year Fixed |
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15 Year Fixed |
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10 Year Fixed |
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5 YR HCU ARM |
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7 YR HCU ARM |
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10 YR HCU ARM |
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WHEDA First Time Home Buyer <=80% AMI |
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WHEDA First Time Home Buyer >80% AMI |
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WHEDA Preferred <=80% AMI |
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WHEDA Preferred >80% AMI |
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HomeReady 30 YR Fixed |
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Rates effective as of: May 1, 2024
APR is Annual Percentage Rate. Rates are subject to change without notice. For adjustable rate loans, payment, rate and APR may increase after loan consummation. Contact us for details. Display rates assume a $150,000 loan amount and a $250,000 value (40% net equity), minimum credit score of 740, single family owner occupied Wisconsin property. This page is for informational purposes only. Credit score, loan purpose, property type, occupancy status, loan to value, loan amount and debt to income can affect rates and fees. Always get an official Loan Estimate before choosing a loan. Heartland Credit Union NMLS 421437
All features
Variety of repayment terms
You can choose one of many repayment terms that works best for your budget to make repayment easier.
Multiple mortgage options
We provide multiple mortgage amounts so you can afford a wider variety of homes.
Local service
We understand the unique housing market of our community, and servicing is not transferred to other lenders, meaning you get more personalized service.
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Terms and conditions
$500 closing cost credit available for first time home buyers. A first time home buyer is anyone who is purchasing the property, will reside in the property as a principal residence and has had no ownership interest in a residential property (sole or joint) during the three-year period preceding the date of closing. WHEDA, investment property, construction loans, second mortgages and lines of credit excluded from offer. $500 closing cost credit cannot exceed the actual amount of closing costs, prepaids and escrow reserves. Credit will be applied at closing and appear on closing disclosure. Offer cannot be combined with any other offers and subject to change without notice.
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