FIRST-TIME HOMEBUYER $0 DOWN MORTGAGE
We make it easy to get into your first home
First Time Homebuyer $0 Down Mortgage
With no down payment requirement, low fees and closing costs—plus a local expert to guide you—Advantis makes it easier and more affordable to buy your first home. Our First Time Homebuyer $0 Down Mortgage* can get keys to your dream home into your hand.
With our First-Time Homebuyer Mortgage you can:
- Pay nothing down
- Pay no monthly mortgage insurance, potentially saving you hundreds each month
- Save more with low rates
- Enjoy lower fees and closing costs than most other lenders
- Get help and guidance from a local mortgage expert throughout the process
Let’s dig a little deeper.
Down payment? Nothing. Zero. Zip. Nada.
We know saving 10% - or even 5% down - can be very difficult. Many first-time homebuyers are juggling several financial obligations, such as student loan and car payments, family and household related expenses, and more. So we’ve made it easier to get into your first home by requiring nothing down. This means a lot less stress for you.
No mortgage insurance required.
Typically, borrowers making a down payment of less than 20% of the purchase price of a home will need to pay mortgage insurance. This is usually included in the total monthly payment you make to your lender and can add up to hundreds of dollars each month. Our First-Time Homebuyer $0 Down Mortgage has no mortgage insurance requirement, helping you save big each month.
Available on our 5/1 or 10/1 Adjustable Rate Mortgage.
Our First Time Homebuyer Program features your choice of a 5/1 or 10/1 Adjustable Rate Mortgage (ARM). This loan option offers a low fixed rate for the first five or ten years—that helps you save more during your early years of home ownership. After five or ten years, you'll enjoy built-in rate protections: your rate can adjust by no more than 2% per year, and can never increase more than 5% above your initial starting rate. If you’re looking for a fixed rate loan with a low down payment requirement, we’d suggest our Home Possible® Mortgage.
Who’s eligible for the First-Time Homebuyer $0 Down Mortgage?
Our First-Time Homebuyer Program is available for borrowers who have not owned real estate in the last three years and are intending to occupy the property as a primary residence.
We'll be your helpful guide—from here to "Hello new home."
Buying your first home can feel overwhelming, so we do everything possible to lessen the stress and make it feel simple and easy. You'll have the constant guidance of a Portland-based mortgage expert to help you from application to keys in hand. Meet our mortgage team.
Get pre-approved before you shop for your home.
It’s essential to get pre-approved before you shop so you can make a stronger offer when you find a home you want to buy. Apply online now to get pre-approved quickly.
Get helpful resources, tools, and tips.
We understand that it feels a little scary to buy your first home, but it doesn’t need to be. To help you feel confident about diving into home ownership, use the following resources:
Learn what to expect.
See the steps you’ll take to get from here to “hello new home.” Check out the Advantis Mortgage Guide to see our straightforward mortgage process and read our homebuyer’s guide for helpful tips on buying a new home.
Learn a few key concepts.
We’ve shared some key concepts to know before you apply for a mortgage or shop for a new home.
Do the math.
Use our mortgage calculators to get a general idea of what your loan payments may be, or for a more comprehensive breakdown, get an instant online quote that will estimate your rate, payments, and fees on a variety of mortgage options.
Set up rate alerts.
With our customized Rate Watch feature, we’ll keep an eye on local rates so you don’t have to. Get mortgage rate alerts emailed to you.
Visit our online resource center.
If we haven’t covered what you need above, you’ll likely find it in our online mortgage resource center. Check out helpful FAQs on a variety of mortgage and home buying topics, a glossary of commons terms, and more.
Not the right mortgage for you?
No problem! We have a variety of other mortgage options to fit your needs.
See all of our mortgage options
Banks are for-profit. Advantis is for you.
Our mortgages get you closer to your goals of home ownership, because we’ve got your back.
Advantis is a not-for-profit financial cooperative, locally owned by our members. Which means instead of giving our earnings to corporate stockholders like banks do, we return them to our members in the form of better rates, lower fees, and more free services.
Learn about our cooperative difference
Get started today.
Get pre-approved today by completing our simple online application. An Advantis mortgage loan officer will reach out to you shortly after reviewing your application.
REQUEST A QUOTE
Complete a quick online form to request a personalized quote from an Advantis mortgage loan officer.
CONTACT A LOAN OFFICER
Questions before you apply? Call or email an Advantis mortgage loan officer directly. They’re here to help!
*Advantis' first time home buyer loan is a 5/1 ARM and only available for borrowers who have not owned real estate in the last three years and are intending to occupy the property as a primary residence. Property restrictions and other conditions apply. Contact a mortgage officer for details. For all dwelling-secured loans, hazard insurance is required and flood insurance may be required. All loans are subject to underwriting approval.