First-Time Homebuyer Program

Your first home is a big deal. But when you’re ready to buy, all of the new information may be overwhelming. Suncoast Realty Solutions, LLC is here to help you save money and have a stress-free buying experience as your one-stop shop for personalized service and major savings.

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First-Time Home Buyer Program and Resources

At Suncoast, we know you need all the help you can get to make the best decision on a mortgage. To make it easy to buy your first home, our First-Time Home Buyer Program is here to help.

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 programs in Florida and our 10/1 Adjustable Rate Mortgage (ARM) program to expand opportunities for new homebuyers.*

Why Should First-Time Homebuyers Choose Our 10/1 Arm Program?

Here are some reasons to consider a 10/1 ARM (Adjustable Rate Mortgage).

A 10/1 ARM maintains your interest rate for at least 10 years
Up to 97% financing is available on a 10/1 ARM.
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.

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Closing Cost Assistance

At Suncoast, we know that when you take out your first-time homebuyer loans, there is still a lot that you need to pay for, like your closing costs! So, we can also offer help with closing costs to our members who are first-time buyers.

What are Closing Costs?

Closing costs are the various fees and expenses associated with finalizing a real estate transaction when buying a home. These costs are paid at the closing or settlement, which is the point at which the property formally changes ownership.

The specific closing costs can vary based on factors such as the location of the property, the purchase price, and local regulations.

Get up to $3,000 Toward Closing Costs

Suncoast can help eligible borrowers 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).

Special Program for First-Time Homebuyers

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

More affordable down payment!
You and your family can work together to provide your down payment! We’ve reduced the down payment requirement to a minimum of 1% from the member’s own funds, allowing an immediate family member to gift you the other 2%.

Increased maximum loan amount!
We’ve increased the maximum loan amount to $450,000. This helps new homebuyers have more options when house hunting for an affordable home.

Reduced origination fee!

To make it easier for you, we’ve reduced the origination fee.

More borrowing power!

You can now borrow up to 97% of the sale price or the appraisal, whichever is less, thanks to our increased loan-to-value ratio (LTV). For example, if the home sells and appraises for $100,000, your 10/1 ARM mortgage loan amount could be up to $97,000. The other 3% or $3,000 represents your down payment.

No private mortgage insurance requirement!
New homebuyers can save money with our 10/1 ARM program because private mortgage insurance is not required. That helps cut down on monthly payment costs.

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 at Suncoast to help! Bookmark the articles below to help you every step along the way. Or, if you have any questions, feel free to contact our team today!

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 Pre-approval: Learn how mortgage pre-approval 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.

Why Choose Suncoast As a Mortgage Lender?

As a credit union, Suncoast can offer all of the same services as a bank to our members, but at a lower cost to you. So, why should you choose us as your mortgage lender?

Lower Fees and Costs

As a not-for-profit organization, Suncoast offers lower fees for our members, which means we're an affordable option if you're looking for a mortgage!

Competitive Interest Rates

Suncoast also offers competitive interest rates on our mortgage products. Since we're member-owned, we focus all of our time on helping you save money, which is why we provide competitive interest rates on all loans and mortgages.

Member-Centric Approach

We want you to get the most out of our service at Suncoast. We offer a more personalized and member-centric approach. This means we're attentive, easy to work with and strive to make our members feel safe and secure when applying for a loan or mortgage!

Customer Service

We provide personalized and attentive customer service to our members. As a member, we can help you sort out financial issues, or address unique financial situations or credit challenges.

**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.