First-Time Homebuyers Program

A simpler way to take your first step toward homeownership

Buying your first home can feel overwhelming and raise a lot of questions — especially about monthly payments and closing costs. Our First-Time Homebuyers Program is designed to help make that first step more manageable, with lower payments at the beginning and fewer upfront costs.

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What This Program Is

This is a 30-year home loan designed specifically for first-time homebuyers. It includes:

• A fixed interest rate for the first three years
• One planned rate adjustment after year three
• A fixed rate for the remaining life of the loan

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How the Loan Works

Years 1–3: Fixed interest rate

After year 3: One-time rate increase of 0.50%

Years 4–30: New rate remains fixed

There are no recurring or annual adjustments.

See today’s current rate.

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Fewer Upfront Costs

MyPoint pays many non-recurring closing costs, which can save buyers several thousand dollars at closing.

MyPoint will cover fees, including:

• Appraisal fee
• Credit report fee
• Lender’s title and title insurance, recording, processing, settlement, notary, and courier fees

If the loan is paid off or refinanced within the first 36 months, you’ll reimburse the closing costs MyPoint paid. If you keep the loan for more than 36 months, no repayment is required.

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Costs You’re Still Responsible For

Some costs are paid by the buyer, including:

• Prepaid interest
• Property taxes
• Homeowners insurance
• Private mortgage insurance (if applicable)
• Owner’s title insurance
• HOA dues (if applicable)

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What the Process Looks Like

• Talk with a MyPoint mortgage specialist
• Get pre-approved
• Shop for your home
• Complete the application and underwriting
• Close on your home

We guide you through each step.

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Is This Program Right for You?

This program may be a good fit if you’re a first-time homebuyer, want lower initial payments, and plan to stay in your home for several years. A conversation with our mortgage specialist can help confirm whether it aligns with your goals.

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Let’s Have a Conversation

You don’t need to start with an application.

• Call us at 1-888-495-3400 
• Visit a branch
• Schedule time with a mortgage specialist

Other options: View current rates or apply online.

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FAQs

Is this a fixed-rate loan?

It’s fixed for three years, adjusts once, then remains fixed for the rest of the loan.

How much can I save on closing costs?

Savings vary, but many buyers save several thousand dollars in lender and title fees.

What if I sell or refinance early?

If the loan is paid off within 36 months, closing costs paid by MyPoint must be reimbursed.

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