First Time Home Buyer Program

Big Savings for First Time Home Buyers
Benefits
- 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
- Available to non-permanent residents
New and Improved Program for First Time Homebuyers
Closing cost help
Suncoast will pay up to $1,500 toward your qualifying closing costs1 when you purchase your primary residence with our First Time Homebuyer 10/1 Adjustable Rate Mortgage (ARM).

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%.
We've also reduced our origination fee.

Increased maximum loan amount
We’ve increased the maximum loan amount to $600,000. This helps new homebuyers have more options to choose from when house hunting for an affordable home.

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.

First Time Homebuyers Mortgage FAQ
No, new homebuyers can save money with our 10/1 ARM program because PMI (private mortgage insurance) is not required. That helps cut down on monthly payment costs.
Yes! 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%.
Get pre-approved by starting your loan application at the Suncoast Online Mortgage Center now, even if you're still looking for the perfect home.
Apply OnlineSuncoast does not participate with the Hometown Heroes Program. We offer our unique Suncoast Community Heroes mortgage. Learn more about this program's benefits on our website!
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