First-time homebuyer programs help individuals or families purchase their first homes. It makes homeownership more accessible by allowing for lower down payments and lower credit scores, or offering financial assistance to help with the down payment and closing costs. The eligibility requirements will vary depending on the type of mortgage loan, the home sales price, and other factors.

It’s just the opposite. Get preapproved first so you know how much you can afford and whether you’ll qualify for a mortgage loan. You don’t want to find a property and sign a contract to purchase, only to find out you don’t qualify for the loan you need.

Absolutely! We’re here to support you every step of the way. Our dedicated team is ready to answer your questions and make sure you have the resources you need to confidently navigate the homebuying process.

Yes, we’ll do a preliminary review of your finances and give you an estimate of how much you qualify to borrow for a home. Formal loan approval requires a more detailed review of your finances and a hard credit check.

Down payment assistance programs help homebuyers partially or fully cover the upfront costs of purchasing a home. APGFCU partners with local, state, and federal organizations to assist eligible first-time homebuyers with these expenses. APGFCU also subsidizes its own program. Here are just some of the available assistance offerings: 

• Federal Home Loan Bank (FHLB): Grants of $12,500 to $15,000 require a minimum borrower contribution of $1,000.
• Maryland Mortgage Program (MMP): Multiple low down payment mortgage programs to choose from, including those with down payment and closing cost assistance and one program that will pay off student loan balances up to $40,000 (or 15% of the purchase price, whichever is less).
• APGFCU Homeownership Assistance Program (HAP): Grants of $10,000 require a minimum borrower contribution of $1,000.

VA mortgage loans are offered by private mortgage lenders and are partially backed by the U.S. Department of Veterans Affairs (VA). They are designed to help eligible veterans, active-duty service members, and certain members of the National Guard and Reserves purchase a home. Because the VA guarantees a portion of the loan, it makes it easier for borrowers to qualify.

VA loans can be used to purchase a home with no down payment, which helps to reduce your upfront costs. Private mortgage insurance (PMI) is also not required, which reduces your monthly payments. These loans may also have lower interest rates than conventional loans.

A USDA loan is a government-backed mortgage program offered by the U.S. Department of Agriculture (USDA) to help individuals and families purchase homes in eligible rural and suburban areas. They are intended to assist low- and moderate-income borrowers become homeowners.

USDA loans do not require a down payment, private mortgage insurance (PMI) is not required, and they have low interest rates. To qualify, borrowers must meet household income limits based on the region and the household size.

An FHA loan is a type of mortgage that is offered by private mortgage lenders and is partially backed by the Federal Housing Administration (FHA), which makes it easier for homebuyers to qualify.

These loans have lower minimum credit score and down payment requirements, which makes them popular with first-time homebuyers. Mortgage insurance is required with these loans.

Membership is open to anyone who lives, works, worships, attends school, or volunteers in Hartford County, Cecil County, Baltimore County, or Baltimore City, or you are an immediate family member or household member of anyone meeting the above criteria. Members of the immediate family or household or a credit-union-eligible individual may join.