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Notice: Campbell Branch is currently closed due to building maintenance. We apologize for the inconvenience and appreciate your understanding.
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Notice: Our Gilroy branch is currently experiencing intermittent connectivity issues. Thank you for your patience as we work diligently to resolve this issue.
System Maintenance: On Thursday, February 15th, we’ll be performing a scheduled maintenance starting at 10 p.m. PST and ending at 2 a.m. PST on Friday, February 16th. During this time, Phone Banking will not be available. Thank you for your patience as we update our systems to better serve you.
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County Federal will never call, email or text you to ask for information. Questions? Dial us directly at 800-282-6212 - we’re happy to help.
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All County Federal offices and branches will be closed on May 27th, in observance of Memorial Day.
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Are you impacted by the severe weather? Contact us today to apply for our Emergency Relief Loan.

First Time Home Buyer Guide

First Time Home Buyer Guide

Published: November 20, 2018

First Time Home Buyer Guide

Buying your first home can be an exciting prospect—but there's a lot that goes on in between attending your first open house and signing the closing paperwork! Not sure where to begin? There are a few key steps that you'll want to follow to set yourself up for home-buying success.

Plan For Up-Front Costs

No matter what type of mortgage you qualify for, understand that there are going to be some up-front costs that you will need to save up for and pay out-of-pocket. This includes not only the down payment (which usually ranges anywhere from 3.5% to 20% of the purchase price) on your new home, but closing costs and related fees, as well. You'll also want to have some money set aside for any general maintenance or repairs that your home may need shortly after moving in.

Find the Right Mortgage

Securing the right financing is also a must when buying your first home. There are plenty of great mortgage options available, especially for first-time buyers. Whether you’re in the market to purchase a home or refinance an existing mortgage loan, County Federal is sure to have a program that will fit your needs. Take advantage of the great low rates and the variety of home loan options that include:

  • Conforming, High Balance and Jumbo loans
  • Fixed rate mortgage options available in variety of terms
  • Adjustable rate mortgages

For those who can’t afford a larger down payment, you can generally secure a lower interest rate with a conventional loan and avoid the monthly expense of mortgage insurance in the process.

Work With a Real Estate Agent

One of the best decisions you can make as a first-time home buyer is that of working with a real estate agent throughout the process. As a first-time buyer, working with an agent shouldn't cost you a penny since the agent's commission is paid by the seller. Furthermore, an experienced agent will be able to help you find properties that meet your criteria, negotiate a fair price, and walk you through the closing process. These professionals are extremely valuable resources to have as you buy your first home.

By following these tips, you'll be well on your way to becoming a first-time home owner! Looking for mortgage options that suit your needs? Santa Clara County Federal Credit Union has plenty! Contact us today to find out more about our home loan opportunities.

Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.
Equal Housing Lender
Certified - CDFI - US Department of the Treasury