• Refer a Friend
  • Locations
  • Contact
  • Rates
  • Schedule Appointment
  • Login

  • New Loans and Accounts: 602-433-5626
  •  Service: 602-433-7000
  •  Routing # 122187238

Get MORE for Your First-time Mortgage

Skip the down payment with our First-Time Homebuyer Program.

Do you dream of owning your first home? Does the idea of coming up with a down payment bring you down? Make your dreams come true with a no-down-payment mortgage in our First-Time Homebuyer Program.

Apply now

Our First-Time Homebuyer Program1 was made for members who have never had a mortgage before and also for members who have not had a mortgage in the last three years. In the program, you’ll get exclusive benefits like:

  • No down payment
  • Fixed and variable rates available
  • No area median income limits

AND you’ll get:

  • MORE competitive rates
  • MORE closing cost credit (up to $5,0002)
  • MORE local servicing of your loan3

Want to know more? Read our FAQ.

First-Time Homebuyer FAQ:

No. The program is open only to prospective homebuyers who have not owned a home within the last three years.

Yes. You can use seller, lender or real estate agent credits toward various mortgage costs.

No. Gifts, grants or assistance programs cannot be used in the First-Time Homebuyer Program.

No. The program does not allow non-occupant co-borrowers.

A minimum credit score of 700 is required to qualify for the First-Time Homebuyer Program.

No. Jumbo loans are not available in this program.

No. There is no area median income limit.

Apply now

Our Current Rates

Open menu  for important rate and payment information.

DETAILS
MORTGAGE PURCHASE
RATE
APR
POINTS
15 Year Fixed Rate
4.75%
4.961%
0.875%
Purchase Rate Assumptions and APR Information
Today's purchase rates are based on the purchase of a single-family, primary residence, a credit score of 740, and assumes the loan will have an escrow account.

CONFORMING LOAN

15 Year Fixed Rate
Interest Rate
APR
Purchase Price
Down Payment
Loan Amount
Term
Monthly Payment
4.75%
4.961%
$450,000
25%
$337,500
15 yrs
$2,625.18
Rates valid on August 10, 2022. Chart data is for illustrative purposes only, is based upon state loan assumptions and is subject to change without notice. Accuracy is not guaranteed and products may not be available for your situation. This is not a credit decision or a commitment to lend. Estimated monthly payment does not include taxes and insurance which will result in a higher monthly payment. For borrowers with less than 20% down payment, mortgage insurance may be needed which could increase the monthly payment and APR. Additional loan programs are available.
30 Year Fixed Rate
5.00%
5.146%
0.875%
Purchase Rate Assumptions and APR Information
Today's purchase rates are based on the purchase of a single-family, primary residence, a credit score of 740, and assumes the loan will have an escrow account.

CONFORMING LOAN

30 Year Fixed Rate
Interest Rate
APR
Purchase Price
Down Payment
Loan Amount
Term
Monthly Payment
5.00%
5.146%
$450,000
25%
$337,500
30 yrs
$1,811.77
Rates valid on August 10, 2022. Chart data is for illustrative purposes only, is based upon state loan assumptions and is subject to change without notice. Accuracy is not guaranteed and products may not be available for your situation. This is not a credit decision or a commitment to lend. Estimated monthly payment does not include taxes and insurance which will result in a higher monthly payment. For borrowers with less than 20% down payment, mortgage insurance may be needed which could increase the monthly payment and APR. Additional loan programs are available.

4.7

4.7 Review

Our mortgage servicing team earns top marks on Google!

See for yourself!

Read our reviews

Resources for Home Buyers

Get prepared to purchase your next place with our Homebuying Toolkit. It has all the materials you need to build a solid knowledge foundation.

View the toolkit

Contact Us

Complete and submit the form below — we’ll get back to you.

Don't forget to ask about our Closing Guarantee4 and other exciting member benefits!


Federally insured by NCUA/Equal Housing Opportunity

1First mortgage, primary residence only (no rentals). No non-occupant co-borrowers. No Jumbo loans. Minimum 700 credit score.

2Participation in the Real Estate Broker Program is voluntary. Desert Financial Credit Union and its subsidiary Define Mortgage Solutions LLC do not receive any benefit, monetary or otherwise, from the Participating Broker under this program. Participating Brokers are non-affiliated third parties of Define Mortgage Solutions LLC and Define Mortgage Solutions LLC makes no warranties or representations about the service provided by the Participating Brokers. To participate in this program, the member does not have to finance the mortgage loan with Define Mortgage Solutions LLC. Amount of credit will vary and is based on 25% of the buyer’s agent’s commission up to a maximum of $5,000. For full program details, see the Real Estate Broker Program Notice. Mortgage loans are offered by Define Mortgage Solutions, LLC, NMLS ID #1761612, a subsidiary of Desert Financial Credit Union. BK#0949053

3Desert Financial does not service FHA, VA or USDA loans.

4Closing guarantee eligible on purchase mortgage loans only. In order for your loan to qualify for the guarantee, all supporting documentation required by Desktop Underwriter (DU) must be provided to us prior to purchase contract acceptance. The closing guarantee does not apply where a delay in closing is caused by third-party services that are outside of Desert Financial's control, such as home inspections, appraisals, or title services. FHA, VA, USDA, or any loan relying on a down-payment assistance program, or loans for properties outside Maricopa or Pinal Counties, are not eligible. Borrowers with outstanding credit contingencies will not be eligible. If your loan is eligible, and your closing date is delayed for a reason not excluded by these provisions, Desert Financial will pay you $100 for each day that your closing is delayed, up to a maximum of $500. This amount will be credited to your Desert Financial account after your loan closes. Restrictions may apply, ask a representative for details.