BECU · Credit union
BECU
Review published mortgage options and requirements, then request a personalized quote from the lender.
Availability: Mortgage loans are subject to membership, credit approval, and other underwriting criteria; not every applicant will qualify. Certain restrictions apply. Home loan programs, terms, and conditions are subject to change without notice.
At a glance
- Property use
- Primary residence
Still to confirm: Borrower type, Credit requirement, Reserves.
Our take: Pros & Cons
What we like
- Washington Home Advantage provides down-payment assistance for income-eligible U.S. citizens and lawfully present non-U.S. citizens; a pathway may be available without a traditional credit score.
- Fixed-rate, adjustable-rate, jumbo, FHA, VA and one-close construction programs are listed on BECU’s official site.
- Fixed-rate terms include 10, 12, 15, 20 and 30 years; primary and second-home financing is available.
What to consider
- Mortgage loans require BECU membership, credit approval and other underwriting criteria; not every applicant qualifies.
- Mortgage availability is limited to ten listed service states; construction is restricted to WA, ID and OR, and Home Advantage assistance is for Washington primary residences.
- The first-time-buyer checklist lists an SSN. Other programs’ SSN, ITIN, visa, foreign-credit and foreign-income requirements need confirmation; Home Advantage’s stated lawful-presence and alternative-score conditions apply only to that program.
AI-generated lender-level assessment based on published information. Not a verified assessment of First-Time Homebuyer Grant; confirm program-specific conditions below.
Additional lender considerations
- Jumbo financing offers program-specific loan amounts and down-payment options for primary and second homes.
- One-close construction financing combines construction and permanent financing, with interest-only payments during construction.
- HomeReady offers low down-payment options for qualified borrowers, with income and education conditions.
- Eligible first-time buyers may receive a grant up to $8,000 toward down payment or closing costs, subject to income, property, actual-cost and funding limits.
- Down payment, loan size, mortgage insurance, reserves and documentation vary by program and occupancy.
- Advertised examples depend on published borrower assumptions and may change without notice; they are not guaranteed personal offers.
- No-origination-fee claims have program and transaction conditions; construction APR includes an origination fee and VA fee relief is geographically limited.
- Home Advantage assistance is a repayable second mortgage, with income, education, property and repayment conditions. Grants have separate eligibility, limited funds and possible tax consequences.
Newcomer requirements
First-Time Homebuyer Grant
Fit not assessed · Check fit
Verified published requirements for this program. Rate-example assumptions are separate and do not establish eligibility or approval.
- Minimum down payment
- Contribute as little as 1% of your own funds towards your down payment (additional closing costs may be required).
- Income documentation
- Complete a homeownership course.
- State restrictions
- Home must be in WA, OR, SC, ID, CA, AZ, IL, KS, MO, or PA.
- Property restrictions
- Home Eligibility Single-family residence (one-unit home, condo, or townhouse). Primary residence with the intent to stay for at least 3 years. Home must be in WA, OR, SC, ID, CA, AZ, IL, KS, MO, or PA.
- Occupancy
- Primary residence
View full lender requirements
- Minimum down payment
- Contribute as little as 1% of your own funds towards your down payment (additional closing costs may be required).
- Income documentation
- Complete a homeownership course.
- State restrictions
- Home must be in WA, OR, SC, ID, CA, AZ, IL, KS, MO, or PA.
- Property restrictions
- Home Eligibility Single-family residence (one-unit home, condo, or townhouse). Primary residence with the intent to stay for at least 3 years. Home must be in WA, OR, SC, ID, CA, AZ, IL, KS, MO, or PA.
- Occupancy
- Primary residence
- Other conditions
- 1Member Share or Member Advantage savings account required to establish membership; not everyone will qualify. In order to qualify for the grant funds, buyers must meet all the First-Time Homebuyer Grant program criteria as well as loan eligibility and property qualifications, some of which might not be listed here. BECU reserves the right to alter or change grant criteria or lending requirements. 2All federal, state, and local taxes imposed on the acceptance of a grant are solely the responsibility of the applicant. BECU will issue an IRS Form 1099-MISC or W-2 to an applicant where a Form 1099-MISC or W-2 is required by applicable law. Applicants should consult their own accountant(s) or tax advisor(s) to determine tax implications, if any. 3A "first-time buyer" is a purchaser who has had no ownership interest in a property for over three years. 4Mortgage loans are subject to membership, credit approval, and other underwriting criteria; not every applicant will qualify. Certain restrictions apply. Home loan programs, terms, and conditions are subject to change without notice. Total funds available for the First-Time Home Buyer Grant program are limited and are reserved according to the order in which eligibility is determined. The amount of a grant cannot exceed the lowest of three limits: (A) 3% of the purchase price of the home; (B) 3% of the appraised value of the home, or (C) $8,000. If the actual down payment and/or closing costs are less than the amount of grant funds reserved, then the funds disbursed at closing will be limited to actual closing costs and/or down payment.
Questions to confirm with the lender (11)
These requirements have not been verified for this program:
- SSN
- ITIN
- U.S. credit history
- Foreign credit history
- No credit history
- Residency / visa
- Minimum credit score
- Employment documentation
- Foreign income
- Foreign assets
- Reserves
Requirements last reviewed: Oct 25, 2026 · Official requirements source
Rates and costs
First-Time Homebuyer Grant
Rates are available on request
No reviewed advertised rate example is linked to this program.
How to apply
First-Time Homebuyer Grant
- Complete a homeownership course.
- Confirm the program's identity, residency, credit and property requirements with the lender.
- Use the official application channel to request pricing for your actual scenario.
- Review the lender's written Loan Estimate, including costs and cash to close.
Published eligibility and availability do not guarantee approval. Confirm membership, relationship, property and occupancy conditions with the lender.
Sources and methodology
About this lender
BECU purchase, refinance and construction home loans include fixed-rate, ARM, jumbo, FHA and VA options. Washington Home Advantage has published lawful-presence and conditional alternative-score criteria. Membership, credit approval, property-location and program-specific requirements apply.
Legal lender: Boeing Employees Credit Union
Lending channel: Direct lending
Provider type: Credit union
Lending channels: Direct lending. Origination status: Not stated.
NMLS identifier: 490518
Published service states: WA,AZ,CA,ID,IL,KS,MO,OR,PA,SC
More lender directory information
Direct application information ↗
Mortgage loans are subject to membership, credit approval, and other underwriting criteria; not every applicant will qualify. Certain restrictions apply. Home loan programs, terms, and conditions are subject to change without notice.
Directory verified: 2026-10-25 UTC · Official directory source ↗
Official mortgage terms · Profile reviewed: Oct 25, 2026
- Official lender source · Last checked Oct 25, 2026
What do APR, points, LTV and reserves mean?
- APR
- An annualized borrowing-cost measure that includes interest and certain loan charges. Read it alongside the interest rate and fees.
- Discount points
- An upfront charge expressed as a percentage of the loan amount. Compare the quoted interest rate and the points together.
- LTV
- Loan-to-value: the loan amount relative to the property's value.
- Reserves
- Assets the lender may require you to retain after closing. Requirements differ by program.