BECU First-Time Homebuyer Grant
Dear first-time homebuyers: BECU (Boeing Employee Credit Union) is not only a great credit union to bank with, but they have just upped their game to help get you into a house in this current market. As you may know, interest rates have risen over the past few months, so in an attempt to help ease that, BECU is offering an awesome grant of up to $10,00.00 if you fit into the criteria. Keep reading to see if this program will work for you!
-The property you intend to buy can only have a maximum loan amount of $647,200.
- Your Debt-To-Income ratio can only be 45% max.
-Credit score must be 660 or higher .
-Only qualifies for a conventional Loan.
-You must attend a homeowners course.
-Yout total income must be less than $124k per year. If two people want to be on the home loan, the amount is still $124k or less.
-You must be able to make a contribution of 1% minimum or the loan amount and must have two months of reserves in the bank.
The coolest part about this is that it is truly a grant, (aka a gift!) and is not owed back to BECU. If all of this criteria seems a bit confusing and you aren’t sure you qualify, no worries, reach out today and I can connect you with Lauren Stokes. Lauren is a Tacoma local who has been a Mortgage Advisor with BECU for 7 years, she knows her stuff! BECU is a local company and is offering this grant to homebuyers in Washington, which makes buying a home in Tacoma that much easier!
