First Time Home Buyer Guide

A woman smiling outside.

You Want a Place of Your Own. We Want to Make It Happen.

It could be comfy and cozy, for just one or two of you. Or it could be spacious and sprawling for a growing family. Whatever its size or style, that first home is always special. At KEMBA Financial Credit Union, we're happy to help you take that big step with friendly guidance and attractive mortgage options.

Work with us

Working with KEMBA

You might be good with finances - and experienced at making big purchases. But trust us, home-buying has its own unique jargon and requirements. At KEMBA, we're prepared to help you navigate the entire process.
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  • Our experienced mortgage lenders will patiently answer all your questions.
  • They'll explain the documents you will need to collect and the steps - such as home inspection - that you'll need to take.
  • They'll patiently guide you through each step, from the first line on the loan application to your loan closing date.
  • While you're new to all this, we've worked with thousands of other homebuyers. You can trust us to professionally deal with any bumps in the road and get you to the finish line.

Mortgage Options

Even after you've chosen a home, you'll have decisions to make that go far beyond paint colors. KEMBA offers many types of mortgages. We'll help you choose one that works with your current finances and future plans.
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  • Fixed-rate mortgages: You can choose repayment terms of 10, 12, 15, 20 or 30 years. Stable rates make for easier long-term planning, as your monthly payments won't change over the life of the loan.
  • Adjustable-rate mortgages: ARMs feature lower rates for the first 3, 5 or 7 years (Your choice!) After that, rates may shift according to market conditions. The lower initial payments can give you time to rebuild your savings or more money to furnish your home, or be a perfect solution if you don't plan to be in your starter home for the long haul.
  • Government-backed loans: Agencies such as the Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) provide backing for mortgages with low down payments and other financial advantages. The KEMBA team can explain all the features and help determine if you qualify.

Application Process

Ready to get the ball rolling? Schedule an appointment with one of our mortgage loan officers to get answers you need. To make good progress, you'll need the following information.
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  • Your name and contact information
  • Your current address
  • If you are purchasing a home, information about the property (purchase price, address, etc.)
  • Your income information
  • Your accounts with outstanding balances (car loans, credit cards, etc.)

Mortgage Application

Speak with a mortgage expert

A KEMBA membership is required before you can receive a loan. While you can complete and submit the online loan application prior to membership, we require that you join the Credit Union before your loan is funded. Find out if you’re eligible for membership.
Online loan applicants must be at least 18 years old and U.S. Citizens. When you submit an online loan application you are authorizing KEMBA Financial Credit Union to obtain your consumer credit reports from national credit reporting
agencies, and contact you via telephone, email, or mail in regards to your application. It is also important to note that information obtained by KEMBA from your loan application may be kept and maintained by the Credit Union for an indefinite period of time, and may be shared with business affiliates of the Credit Union for any lawful purpose. KEMBA is an equal opportunity lender. KEMBA membership is required.
Customer Identification Program Notification: Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account, in order to help the government fight the funding of terrorism and money laundering activities. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

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