First-Time Homebuyer

Opening the Door to Your Dream Home

We’re here to help you every step of the way, from finding the right mortgage to closing on your first home.

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We offer flexible, affordable mortgage solutions tailored to fit your needs

  • No Down Payment & No PMI

    Enjoy the possibility of no down payment and no Private Mortgage Insurance (PMI) for certain loan programs.

  • Flexible Terms & Rate Options

    Choose from fixed and ARM mortgages with up to 105% Loan to Value (LTV), tailored to your budget and lifestyle.24

  • Simple and Low Fees

    Benefit from a low application fee of just $1,250. And no charges for document prep or credit reports.

How The Mortgage Process Works

  • Connect with a Mortgage Loan Officer:

    Our loan officers provide expert, personalized advice on rates, terms, and the best options for your situation.

  • Apply Online and Get Pre-Approved:

    From application to closing, we guide you through each step of the mortgage process. Including the documentation you’ll need for pre-approval.

  • Meet with Daymark Realty:

    Our wholly-owned real estate service will help you find the right home for you.

  • Get your Offer Accepted:

    Once you’re under contract for your new home, we will begin the processing and the approval for your new mortgage.

  • Finalize Your Closing:

    At closing, we’ll be there to walk you through the final paperwork as you get the keys to your new home!

HomeReady® Mortgage

  • Affordable Homeownership

    Designed for low- and moderate-income families, offered through Fannie Mae.

  • Flexible Qualification

    Allows for minimum down payments as low as 3%, and considers income from a tenant who shares living expenses. Includes reduced Private Mortgage Insurance (PMI).

  • Gifts & Grants Eligibility

    Utilize gifts and grants for your down payment and closing costs.

Connect with a Mortgage Loan Officer

  • Expert Guidance

    Our mortgage loan officers can provide personalized advice and guide you through the home buying process. 

  • Personalized Solutions

    We’ll help you by finding the mortgage solution that fits your needs.

Educational Resources

We offer resources to enhance your understanding of the mortgage process so you can make confident decisions about your home purchase.

Frequently asked questions from first-time homebuyers.

Coastal charges a low application fee of $1,250. You receive substantial savings because there are no charges for document prep or credit reports. Additional charges may apply depending on the interest rate and loan program you choose.
You can apply online through the Coastal website, through the Coastal App on your mobile device, or by phone at 800-868-4262.
For first-time homebuyers, the minimum down payment is 3%. However, Coastal offers a no down payment options up to 105% loan to value on purchases with our Live Better product. For expert advice, please contact one of our Mortgage Loan Officers.
An individual is to be considered a first-time homebuyer who (1) is purchasing the security property; (2) will reside in the security property as a principal residence; and (3) had no ownership interest (sole or joint) in a residential property during the three-year period preceding the date of the purchase of the security property. In addition, an individual who is a displaced homemaker or single parent will also be considered a first-time homebuyer if they had no ownership interest in a principal residence (other than a joint ownership interest with a spouse) during the preceding three-year time period.
Co-signers, both occupying and non-occupying, are allowed to assist our members with qualifying for a new home purchase. For expert advice, please contact one of our Mortgage Loan Officers.
Yes. Gifts and Community grants are allowed to assist with down payment and/or closing costs.
Coastal offers no down payment options up to 105% loan to value on purchases. For expert advice, please contact one of our Mortgage Loan Officers.
Please refer to the following websites for educational resources: • https://www.nchfa.com/home-buyers/resources-for-home-buyers • https://dhic.org/homeownership-center/ • https://www.fanniemae.com/education