Our special programs and one-on-one guidance alleviate many challenges first-time homebuyers experience. Keeping with the credit union philosophy, we help members gain knowledge to make the right mortgage decision for them. Columbia offers a variety of fixed and adjustable-rate mortgage options for first-time buyers, as well as the special programs below.
- Up to 97% financing available
- First-time homebuyer counseling available through the Home Ownership Center
- Waive mortgage insurance with No M.I. Advantage Program
- We attend loan closing with members to answer any last-minute questions
For more details contact our Home Lending team at 360.891.4128 or schedule an in-person appointment by clicking the button below.
 
First Time Home Programs
My Community Mortgage Program
This Fannie Mae sponsored program is ideal for first-time homebuyers with limited savings for their down
payment and closing costs or those needing extra flexibility on credit and income source requirements.
To be eligible members must meet Fannie Mae's Area Median Income limits.
- Up to 97% financing
- Up to a 40-year term available
- Gifts from family members and/or grants from non-profits,
government agencies and employers allowed for up to 100% of down payment and closing costs
- Non-traditional income sources accepted for qualification
- Non-traditional credit sources accepted for borrowers with little or no traditional credit
- Two-to-four unit properties available for borrowers who want to live in one unit and rent out the others
- Counseling recommended but not required if purchasing
a single-unit property
- Counseling required if purchasing a two-to-four-unit property
HomeStart Program
Grant money is available to Columbia Credit Union members through the Federal Home Loan Bank (FHLB).
This program is designed to help members get into their first home by matching savings deposits they
make toward a down payment. To be eligible members must meet FHLB's income guidelines.
- For every $1 saved, receive $3 of grant money
- Keep 100% of grant money if you live in the home for five years
- First-time homebuyer counseling required
- 25% reduction in already low loan origination fees
- 25% reduction in already low underwriting and processing fees
- Limited grants funds are available each year
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