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Empowering first-time homebuyers

Get a no down payment mortgage with the First-Time Homebuyer Program!

Apply now

Who qualifies?

The First-Time Homebuyer Program is made for members who have never had a mortgage or haven't had one in the last three years.

Get more with your first mortgage

No down payment
With the First-Time Homebuyer Program, you can skip your down payment!¹
wallet with cash inside
Closing cost credit
Get up to $7,500 closing cost credit when you participate in the Home Plus program.²
No area median income limits
There’s no limit on your income for you to qualify for the First-Time Homebuyer Program.
Competitive rates
As a credit union, we’re proud to offer you great rates and flexible loan terms.
Closing Guarantee
If your closing is delayed, we’ll pay you $100 per delayed day.³
Local loan servicing
Enjoy in-house underwriting and processing, quick closing timelines and attentive service for the life of your loan.⁴

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Get more with Relationship Rewards

Relationship Rewards is a free program you're automatically enrolled in when you become a member. You earn points for doing various banking activities with us – and every point can help you level up! The higher your Relationship Rewards level, the more benefits you get.

What homebuyers are saying

"Everything from start to finish was easy. We were kept informed at every step of the way what to expect."
Alonna G.

Apply for your mortgage in 4 easy steps

Start your application online, at a branch or by calling (602) 433-4663.
Choose your loan type.
Provide the requested documents.
Finalize your application!
Apply now

Estimate your monthly payment

Monthly Payment
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Results received from this calculator are designed for comparative purposes only, and accuracy is not guaranteed. The payment does not include amounts for taxes and insurance, and the actual payment will be greater.
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Free workshop: homebuying basics

Sit back and relax while we show you what to expect from the homebuying journey – and ask any questions that come to mind.

First-time homebuyer resources

The Phoenix-Area Homebuyer’s Guide
Get all the details related to buying a home, whether it’s your first time or you need a refresher.
Read now
The Homebuying Pro’s “Things to Consider” Guide
Understand what make-or-break factors should be on your list when looking for your next home.
Read now
A Guide to Greater Phoenix Neighborhoods
Use this guide to help you find the area that fits your lifestyle and budget.
Read now
The Path to Homeownership
Learn more about the steps in the homebuying process with a game-inspired infographic.
Read now

FAQs for first-time homebuyers

What is the benefit of being a first-time homebuyer?

First-time homebuyers may qualify for special low down payment programs. Many of them will require at least one of the buyers to be a first-time homebuyer. The typical definition of a first-time homebuyer is someone who has not owned a home in the last three years. At Desert Financial, we have a program for first-time homebuyers that requires no down payment.1

How does it benefit me to get pre-approved for a loan first?

A pre-approval gives you the peace of mind that you’re looking at homes in your price range and you’re able to make an offer with confidence in your ability to make the mortgage payments. It also puts you in a better position when competing with other offers on the same home. It can also help speed up the process once you’re under contract. 

How does it benefit me to have a real estate agent?

A real estate agent will serve as a guide through your home search and a trusted resource in the local market. They will represent you in the negotiation process and advise you every step of the way. Generally, the seller pays for the commission earned by the buyer’s real estate agent. Therefore, you are not paying for your agent’s commission, while still gaining the benefit of professional representation and guidance. Desert Financial has a real estate broker program called Home Plus that offers an added perk of up to $7,500 toward closing costs for working with one of the program’s agent partners.2 Ask your loan officer about this great value to learn more.

Why buy instead of rent?

While renting may be necessary at times, homeownership unlocks your power to build equity, which can increase your net worth and help improve your financial stability. Owning a home could potentially reduce your tax bill6 and it’s an asset that can be passed on to your heirs.

What are some Do’s and Don’ts when looking to get a first mortgage loan?

Do create a budget.

Do keep good records of your finances such as bank statements, paystubs, W2s and tax returns.

Do review your credit for accuracy to avoid surprises.

Don’t acquire new credit such as a department store charge card.

Don’t make large cash deposits.

Don’t change your place of work.

Request a follow-up

Fill out the form and we’ll reach out to you soon!

Related content


Must be a first-time homebuyer (not having owned a primary residence in the last three years) with a minimum credit score of 680 to be eligible. Property must be located in Arizona. Jumbo loans and loans with non-occupant co-borrowers are ineligible. Additional restrictions and eligibility requirements apply.


The Real Estate Broker Program ("Desert Financial Home Plus") will match you with a participating real estate broker (“Participating Broker”) who will assist in the homebuying experience and will provide the applicable credit toward closing costs. Participating Broker shall provide a credit of 25% of the buyer’s agent commission toward the closing costs, up to a maximum of seven thousand five hundred dollars ($7,500) to be provided regardless of the lender utilized, and a credit of 25% toward the listing agent commission expense, up to a maximum of seven thousand five hundred dollars  ($7,500), if the Participating Broker lists an applicable property with a real estate agent from the list of preferred providers. The Participating Broker will confirm each applicable credit is applied by the title company. These credits are applied as a discount from the commission payable to the broker. Use of a Participating Broker is completely voluntary and members financing the purchase of a home with Desert Financial Credit Union (“Desert Financial”) are under no obligation to participate in this Program. Desert Financial does not receive any benefit, monetary or otherwise, from the Participating Broker under this program. Participating brokers are non-affiliated third parties of Desert Financial, and Desert Financial makes no warranties or representations about the services provided by participating brokers.


Eligible borrowers financing the purchase of a new home with Desert Financial Credit Union will receive monetary compensation of $100 per day, up to a maximum of $500, when the scheduled closing date is not met. Restrictions and eligibility requirements apply.


Desert Financial does not service FHA, VA or USDA loans.


Annual Percentage Rate (APR) shown effective {current-date} and is subject to change without notice. Visit our rates page for additional rate information and details. 


Desert Financial and its affiliates do not provide tax, legal, or accounting advice. You should consult your personal tax, legal, and accounting advisors for advice related to your specific tax situation.

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