Saving up for a large down payment can be a huge challenge for first-time homebuyers. Some lenders even require you to pay for expensive mortgage insurance if you put less than 20% down.
But our exclusive Heroes Home Loan program makes it easier to own a home with no down payment and no private mortgage insurance! And, it’s only available for first-time buyer active-duty sworn and civilian law enforcement personnel.*Only from LAPFCU!
Purchase your first home with:
- No down payment**
- No private mortgage insurance
- 30-year fixed rate**
Questions? Call us 877-695-2732
*Valid on home loan applications received starting January 1, 2020. Property must be: (1) located in California, (2) owner-occupied primary residence; and (3) a single family residence, condo, and planned unit development. Requires a LAPFCU checking account and automatic payments, minimum FICO of 700, maximum debt-to-income ratio of 45%, 30-year fixed only, first lien position, three months of reserves required, and cannot be a homeowner within the past 24 months. Maximum loan amount based on conforming high balance loan limits (currently $765,600). May not be combined with any other offer. All loans are subject to credit approval and applicable LAPFCU policies. Program subject to change or cancellation at any time. Other restrictions may apply, please ask for complete details. **APR = Annual Percentage Rate. 30-year fixed rate term payment example (rate effective January 1, 2020): A $250,000 loan with zero down payment will have a fixed rate of 5.250%/5.385% APR would have 360 monthly payments of $1,380.51. Payments do not include taxes, insurance, loan level pricing adjustments or third-party vendor fees. All advertised rates and terms are subject to change at any time without notice. All loans are subject to credit approval and applicable LAPFCU policies. Your actual payment may vary. Restrictions apply, ask for complete details. 1219-23