Mortgages for First-Time Homebuyers
Westerra’s first-time homebuyer program is designed to help you achieve the dream of home ownership. Home ownership is now more affordable with lower down payments and more flexibility.
- Low down payment – 3% down payment on loans up to $650,000. We’ll finance up to 97% or up to 105% with an eligible Community Seconds mortgage*.
- No income restrictions – census tract income limits do not apply to this loan program.
- Non-traditional credit is allowed – if you do not have well-established credit, we will consider other non-traditional credit, like a cell phone, car insurance, day care, etc., to establish your payment history.
- Flexible sources for down payment and closing costs – use gifts, grants or Community Seconds to cover your down payment and closing costs.
Other Westerra Mortgage Advantages:
- Full service lender – helping more Coloradans achieve the dream of homeownership.
- Competitive rates to save you money.
- No origination fee - just low underwriting and processing fees paid at closing.
- FULL credit approval – not just a prequalification, so you are ready to make a winning offer.
- No prepayment penalty.
- Make your payments to Westerra.
- Flexible payment options - monthly, semi-monthly or bi-weekly schedule.
Check Today's Mortgage Rates
Schedule a Mortgage Consultation
Learn about upcoming seminars
View Payment Examples
Meet Westerra's Mortgage Specialists
Westerra financially supports the Colorado Homeownership Coalition, which provides mortgage assistance to individuals and families when they need an extra hand. In 2019, Westerra donated $7,640 to help people stay in their homes.
Everyone in the 7-county Denver metro area can join!
What is a credit union? Learn why more Coloradans are choosing Westerra.
*To be eligible, Community Seconds funds must be provided by a federal agency, a municipality, state, county, state or local housing finance agency, nonprofit organization, a regional Federal Home Loan Bank under one of its affordable housing programs, or an employer. Equal Housing Opportunity.