Smart Start Homebuyer Program

Go ahead, dream big!

Our NO CLOSING COST Smart Start Homebuyer Loan Program can help you get into your new home. So go ahead, dream big.


No closing costs

As little as 5% down payment required

$480,000 maximum loan amount

Rate-lock available

Fast approvals

Properties must be owner-occupied, 1-4 family homes

FREE first-time homebuyer consultations

Other useful tools, including mortgage calculators, are available to help give you the buying power!

Somerset Federal Credit Union’s regular mortgage terms and conditions apply. At least one borrower must be a first-time homebuyer to qualify. Minimum credit score of 670 required for all borrowers. Maximum loan amount $480,000.00. Private mortgage insurance, property insurance, flood insurance required, where applicable. Rate/APR/Terms are subject to change without notice. 1-4 family, owner-occupied properties only (2-4 family properties subject to 6 months reserves of Principal, Interest, Taxes, Insurance (PITI)). No condominiums. No Closing Costs offer not available on construction or land loans. Borrowers will be responsible for initial escrow deposits and first year’s property insurance. Somerset Federal Credit Union will cover the odd day’s interest only when the closing is scheduled on the last week of the month. Upon approval you will need to open an account with the Credit Union and maintain a $5.00 minimum balance. Rate-lock available at application for up to 45 days. Additional terms and conditions may apply.

ATTENTION MEMBERS: SFCU will be CLOSED on Wednesday, June 19th, in observance of Juneteenth. We will reopen with regular business hours on Thursday, June 20th. As always, our ATMs, mobile banking and online banking are available 24/7.
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