First-Time Home Buyers

Home Find a Mortgage First-Time Home Buyers

Open the Door to an Easy Low-Rate Mortgage

There’s a lot to know when buying your first home. Our expert mortgage team will help you step-by-step from getting pre-approved through closing. And as a first-time buyer, you may have access to specialty government-backed mortgage offerings through the Federal Housing Authority, VA and US Department of Agriculture2 which could help lower your costs.

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  • Fast pre-approval
  • Competitive rates on fixed and variable rate loans1,2
  • FHA, VA and USDA options for those eligible
Mortgage Calculator

Estimate Your Fixed-Rate Mortgage Payment

Use our calculator to make sure your new payment will fit into your budget. Enter the price of your home, the size of your down payment, your term, and interest rate and we’ll tell you how much you’ll pay on interest and principle.

Calculate Your Payment

Welcome Home, the Workers Way

Let a Workers Wayᵀᴹ financial coach help you create a personalized step-by-step plan to open the door to homeownership.

Convenient Online Payments

Pay your loan anytime from your online banking account or through the mobile app.3

Homeowner's Insurance

Workers Insurance Agency provides customizable coverage with flexible payment options.4

Government Backed Mortgages

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Loan Type

Single-Family Fixed Mortgages

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30 Years
30 Years
20 Years
20 Years
15 Years
15 Years
10 Years
10 Years

1All Mortgages: Subject to credit underwriting and approval. Loan amount may vary based upon credit approval. Visit our rates page for all available rates and terms. Rates effective as of 8/18/2021 and subject to change at any time. Offers may be withdrawn at any time. Workers Federal Credit Union membership required. Annual Percentage Rate=APR.  

  • Fixed-Rate Single-Family Mortgages: All Annual Percentage Rates (APRs) are based on $100,000 loan to purchase a single family primary residence at an 60% Loan-to-Value (LTV) and a FICO Score of 740 or greater unless otherwise noted. Conforming Fixed Rate Loan Limits: 1 family $510,400; 2 family $653,550; 3 family $789,950; 4 family $981,700. The Annual Percentage Rate (APR) on a Fixed Rate Single Family Mortgage is as low as 2.543% APR for 10 Years. The monthly payment per $1,000 borrowed is $9.26. Down payment as low as 3%, speak with a mortgage originator to determine eligibility.
  • Adjustable Rate Mortgage (ARM): To be used for purchase or refinance of 1-4 family, owner-occupied properties in Massachusetts only. 5/1 ARM available single-family owner-occupied property in Massachusetts. 7/1 and 10/1 ARM rates are also available for construction loans. Rates on ARMS may increase after closing at applicable adjustment term. Upon rate conversion to variable, the rate caps at 2% per adjustment and 6% over the lifetime of the loan. To get the new rate after the fixed period we use a variable number called “the index” which is a one-year Treasury Bill (T-Bill) and add “the margin”. Maximum loan amount of $2,000,000 at an 80% loan-to-value (LTV). The Annual Percentage Rate (APR) on an ARM is as low as 2.912% APR for 5/1 ARM - 30 Years. The monthly payment per $1,000 borrowed is $4.08. Taxes and insurance not included. Actual payment obligation may be greater. Required down payment as low as 5%. All listed ARM APRs are based on $100,000 loan to purchase a single family primary residence at a 60% LTV.

2VA, FHA & USDA Mortgages: These mortgage types are not included in the GiveBack Program. Programs for primary residence only and are subject to change. The Annual Percentage Rate (APR) on an FHA mortgage is as low as 3.925% APR for FHA. The monthly payment per $1,000 borrowed is $4.28. Taxes and insurance not included. Actual payment obligation may be greater. The noted APRs assume a purchase transaction of $100,000.00 on a single family primary residence with a down payment of 3.5%.

3Text, data, and messaging rates apply for downloading/utilizing the app and text alerts.

4Coverage varies by carrier. Products offered by Workers Insurance Agency and Affiliated Companies. Coverage is subject to eligibility and availability. Other terms, conditions, and exclusions may apply. Insurance products available through Workers Insurance Agency, a non-credit union subsidiary of Workers Credit Union are: NOT A DEPOSIT NOT NCUA-INSURED, NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY, NOT GUARANTEED BY THE CREDIT UNION, OR AFFILIATES MAY LOSE VALUE.