First-Time Homebuyer

Local support for your first home.

Buying your home is a big step, and First Federal is here to help make the process feel more manageable. Our First Time Homebuyer Program offers flexible financing options, local lending support, and features designed to help qualified buyers get started.

Talk to a Local Lender Apply Now

Program Highlights

Up to 97% financing
Purchase prices up to $605,000
No PMI required
No loan origination fee
No underwriting fee
No credit report fee
Fixed-rate options: 15, 20, or 30 years
120 -day rate lock available
Available in Yamhill, Marion, and Polk Counties

First Time Homebuyer Loans in Yamhill County and Beyond

First Federal helps first time homebuyers throughout Yamhill, Marion, and Polk Counties. Whether you're just starting to explore homeownership or you're ready to apply, our local lending team can help walk you through your options.

Who Qualifies?

You may qualify if:

You are a first time homebuyer
You meet program income limits
The home will be owner-occupied
The home is located in Yamhill, Marion, or Polk County
You have acceptable credit history
You can contribute at least $3,000 toward your down payment
You complete required Banzai Financial Education

Not sure if you qualify?

That's a great reason to connect with our local lending team.

Contact a Lender

Eligible Property Types

This program may be used for qualifying:

Stick-built homes
Zero lot line homes
De-titled manufactured homes on real property

The home must be a single-family, owner-occupied residence.

Why First Time Buyers Choose This Program

No PMI Required

Qualified borrowers may be able to finance up t 97% of the home's value without private mortgage insurance.

Lower Upfront Fees

This program includes no loan origination fee, no underwriting fee, and no credit report fee.

More Time to Find the Right Home

The 120-day rate lock gives buyers additional time to apply, explore grant options, and shop for a home.

Local Lending Support

Our team understands the local market and works with homebuyers throughout Yamhill, Marion, and Polk Counties.

How to Get Started

1. Connect with a First Federal lender

We'll talk through your goals and help you understand your options.

2. Review eleigibility

Our team can help you review income, down payment, credit, and property requirements.

3. Complete your application

Once you're ready, you can begin the mortgage application process online.

4. Complete Banzai Financial Education

This education is required for the program.

5. Shop for your first home

With a 120-day rate lock, you have more time to find the right fit.

6. Move toward closing

Our local team will guide you through the next steps.

Home$tart Grant Program

Some first time homebuyers may also qualify for Home$tart Grant funds through the Federal Home Loan Bank. These funds are separate from First Federal's First Time Homebuyer Program and are subject to additional eligibility requirmetns and approval.

Ask our team if Home$tart may be an option for you.

First Time Homebuyer FAQs

Do I need PMI with this program?

No PMI is not required for this program.

How much do I need for a down payment?

Borrowers must contribute at least $3,000 toward the down payment.

Can gift funds be used?

Yes. Gift funds from a relative may be used toward the down payment.

What is the maximum purchase price?

The purchase price may not exceed $605,000.

What counties are eligible?

Eligible homes must be located in Yamhill, Marion, or Polk County.

What loan terms are available?

Fixed-rate loan terms are available for 15, 20, or 30 years.

Is homebuyer education required?

Yes. Completion of Banzai Financial Education is required.

Ready to Take the First Step?

Our local lending team is here to help you explore your options, understand the process, and feel more confident about buying your first home.

Talk to a Local Lender Apply Now