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Home Loans at Virginia Credit Union
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First-Time Home Buyers

You’re ready to buy your first home, but where do you start? We know first-time buyers. We’ll walk you through every step of the process and help you find the right home loan for you.

Limited-time offer

$1,000

off closing costs when you finance with us!1

  • 1 Virginia Credit Union is offering a $1,000 discount on closing costs on new mortgage loans for first-time home buyers subject to qualification and credit approval. This promotion is valid on new applications submitted between 10/01/2023 and 02/29/2024. The closing cost reduction will be limited to the lesser of $1,000 or lender closing costs and may not exceed maximum seller contribution limits set by program guidelines. Mortgage loan must close by 05/31/2024. This is not available for USDA or construction loan products. This offer can be used in conjunction with the Welcome Home Discount. It cannot be combined with any other promotion or discount and is subject to compliance with Virginia Credit Union's loan program guidelines. An individual is to be considered a first-time home buyer who (1) is purchasing the security property; (2) will reside in the security property as a principal residence; and (3) had no ownership interest (sole or joint) in a residential property during the three-year period preceding the date of the purchase of the security property. In addition, an individual who is a displaced homemaker or single parent also will be considered a first-time home buyer if he or she had no ownership interest in a principal residence (other than a joint ownership interest with a spouse) during the preceding three-year time period.
Welcome Home Discount

$1,500

Average savings with our Welcome Home Discount.2

  • 2 While Virginia Credit Union members are free to select their own real estate brokerage and title insurance company in connection with their mortgage transaction, we offer our members a voluntary program that includes a discount at settlement equal to 0.60% of the loan amount up to a maximum of $12,000, not to exceed the lender closing costs. The average discount of $1,500 - $2,100 is based on loan amounts of $250,000 - $350,000. Specifically to qualify for the discount, they must be a Virginia Credit Union member and close their mortgage through Virginia Credit Union, use Virginia Statewide Title Services for title insurance, and use an agent from Joyner Fine Properties, LLC as their buyer’s agent. Discount void where prohibited. Certain restrictions apply. Not available in all areas.
Lock in your interest rate for up to

360 days

With our Lock & Shop program.

We make it easy for first-time buyers

 Our local mortgage experts know first-time buyers and are here to help you find your first home.

 With competitive rates and flexible terms, we have everything you need all under one roof.

 Discover low down payment options for first-time buyers, like FHA loans.

 Get fast and free pre-qualifications, letting sellers and real estate agents know you’re serious about buying.

 Grants may be available to help cover down payments, closing costs, and more for qualified buyers.

 Lock in your interest rate for up to 360 days, and shop with less pressure.

FHA Loan

Rates as low as

6.771
%
APR
See all rates

Good option for first-time buyers with a down payment as low as 3.5%.

Conventional Fixed Rate Mortgage

Rates as low as

6.602
%
APR
See all rates

Good option if you want a consistent payment for the life of the loan.

Conventional Adjustable Rate Mortgage (ARM)

Rates as low as

7.398
%
APR
See all rates

Good option to get a competitive rate for up to 10 years.

Buy your first home in 4 simple steps

Step 1
Get pre-qualified.
  • First things first, you should talk to a mortgage loan officer about your goals, timelines, finances, and different mortgage options.
  • From there, our mortgage loan officers can help you get pre-qualified to show sellers and REALTORS® that you’re ready to buy. Plus, by obtaining your pre-qualification, you’ll be able to see what you can realistically afford. 
  • Your pre-qualification is valid for 90 days.
Apply now
Step 2
Start shopping, find the right home, and apply!
  • If you haven’t already, contact a REALTOR® to help you find your right home. Consider a REALTOR® from Joyner Fine Properties to unlock potential savings at closing with our Welcome Home Discount. 
  • Shop with less pressure with our Lock & Shop program and lock in your interest rate for up to 360 days. 
  • Once you find the right home, make an offer! 
  • Once your offer has been accepted, you’ll need to complete the required inspections and appraisal, something your REALTOR® will help set up.
Step 3
Final touches.
  • Together with your REALTOR® and mortgage team, you’ll put the final touches on your mortgage. Consider locking in your rate at this point, protecting yourself from rising interest rates. 
  • Next, you’ll sign disclosures, which will give you a ballpark estimate of your closing costs. 
  • You’ll also need to obtain homeowner’s insurance. Consider Virginia CU Insurance Services.
  • While the loan processor is putting the final touches on your documents, they might reach out with questions or requests for additional documentation. 
Step 4
Get your keys!
  • Once final approval for your home loan is issued, your loan will be prepared for closing by our team. 
  • Together with your REALTOR®, you’ll do a final inspection and walkthrough. 
  • Before getting the keys, you’ll work with a closing attorney to sign and finalize the closing documents and provide funds for closing. 
  • Virginia Statewide Title Services can help you find a closing attorney and title insurance, if needed.
The front porch of a house

Welcome Home Discount

Go all in with us for an average discount of $1,500-$2,100 at closing with our Welcome Home Discount!1 If you get your home loan with us, use a REALTOR® from Joyner Fine Properties as your buyer's agent, and use Virginia Statewide Title Services for your title insurance, you could qualify!

  • 1 While Virginia Credit Union members are free to select their own real estate brokerage and title insurance company in connection with their mortgage transaction, we offer our members a voluntary program that includes a discount at settlement equal to 0.60% of the loan amount up to a maximum of $12,000, not to exceed the lender closing costs. The average discount of $1,500 - $2,100 is based on loan amounts of $250,000 - $350,000. Specifically to qualify for the discount, they must be a Virginia Credit Union member and close their mortgage through Virginia Credit Union, use Virginia Statewide Title Services for title insurance, and use an agent from Joyner Fine Properties, LLC as their buyer’s agent. Discount void where prohibited. Certain restrictions apply. Not available in all areas.
A mortgage loan officer helping a member

Mortgage Loan Officers

Whether you’re looking to buy or refinance, we have a team of local mortgage loan officers ready to help.

Refinance your mortgage.

Consider refinancing your current mortgage to get more for your money.

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