First Time Home Buyer Program and Resources

Big Savings for First Time Home Buyers

If you’re ready to buy your first home, we want to help you save money. Suncoast has enhanced our First Time Homebuyer 10/1 Adjustable Rate Mortgage (ARM) program to expand opportunities for new homebuyers.*

Why should first time homebuyers choose our 10/1 ARM program?

• Maintain your interest rate for at least 10 years
• Up to 97% financing available
• Save on your monthly payments since private mortgage insurance isn’t required
• Ask us how you may qualify with as little as 1% of your own funds when combined with a 2% gift from an immediate family member

Get up to $3,000 Toward Closing Costs

Suncoast will pay up to $3,000 toward your qualifying closing costs** when you purchase or refinance your primary residence with our First Time Homebuyer 10/1 Adjustable Rate Mortgage (ARM).

Apply Now

 

 

 

New and Improved Program for First Time Homebuyers

Make your dream of owning a home come true with our First Time Homebuyer 10/1 ARM program.

To get pre-approved, apply online or call our Mortgage Contact Center at 800-999-5887, extension 87008.

Visit the Online Mortgage Center

 

 

 

Learn More About Buying Your First Home

If you want to learn more about the home-buying process, we have resources to help! Bookmark the articles below to help you every step along the way.

• Mortgage Dictionary: All the Loan Terminology You Need: This resource can help you understand the terminology used during the mortgage process.
• 5 Mortgage Tips for Buying Your First Home: These tips can help make the mortgage process easier for first time home buyers.
• All You Need to Know About Mortgage Preapproval: Learn how mortgage preapproval can determine how much of a loan you can be approved for and help speed up the approval process.
• How Suncoast’s First Time Home Buyer Mortgage Changed a Member’s Life: Watch a video that shows how our First Time Home Buyer Mortgage helped change a member’s life.

 

*Please note the maximum household income permitted to qualify for this program is 200% of the HUD Area Median Income in the county in which the property is located. You must complete a Suncoast approved First Time Homebuyer class and provide the certificate of completion prior to closing. Visit HUD.gov to locate a local class in the county of the property being purchased or complete an online course offered by Fannie Mae. Visit the Fannie Mae online course website.

**Suncoast will contribute up to $3,000 (Closing Costs Benefit) toward your closing costs when you select our First Time Homebuyer 10/1 ARM product for the purchase or refinance of your primary residence. Suncoast will not pay closing costs for discount points to obtain a lower rate or monies necessary to establish escrow accounts (taxes and insurance). If the mortgage is paid in full during the first 24 monthly payments of the loan, borrowers will be required to repay the Closing Costs Benefit to Suncoast for the amount reflected as “Lenders Credits” on the Closing Disclosure. The 24 month term begins with the first payment due date of the loan. All Sellers paid closing costs will be credited prior to any credits for the Closing Cost Benefit to be provided by Suncoast. Not to be combined with any other offers.