First Time Homebuyers Loan

Shopping for a home loan for the first time can be confusing. We can help every step of the way.

If you’ve never owned a home before or haven’t owned a home in the past three years, a First Time Homebuyer’s Loan is a smart and affordable choice, with step-by-step help, competitive rates and no required private mortgage insurance.


This loan is a 5-year Adjustable Rate Mortgage (ARM) with a maximum term of 30 years. Financing is available for up to 100 percent of the purchase price with a maximum loan amount of $400,000 plus an additional $2,000 in financing for help with closing costs.

Any property you purchase with an LGFCU mortgage must be located in North Carolina, South Carolina, Virginia, Georgia or Tennessee.


Costs or fees may arise during the mortgage loan process. When you apply, your Credit Union loan officer will provide a good faith estimate of all settlement costs involved with the mortgage process, which include the appraisal fee, origination fee, attorney fees, recording fees, title insurance costs, and survey and pest inspection costs (typically not required.)

The origination fee is .75 percent of the loan amount with a cap of $1,500. The initial interest rate for our ARM loans is set by the LGFCU Board of Directors and is subject to change daily.

Next Steps

Choose a way to request your First Time Homebuyers Loan.