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First-Time Buyer Program

For 116 years, we have diligently worked to help our community make homeownership an achievable goal. With our First-Time Buyer Program receive discounted rates and fees as our housewarming gift to you. We’re here to help you through the process. No two journeys to buy a home look the same. Knowing the key steps and having the tools and team to guide you can help.

The Home-Buying Process: 10 Steps to Moving In

  1. Get Pre-Qualified
  2. Find Your Home
  3. Make an Offer
  4. Complete Loan Paperwork
  5. Conduct a Home Inspection
  6. Order an Appraisal
  7. Arrange Insurance
  8. Loan Reviewed by Underwriting
  9. Sign Closing Paperwork
  10. Move In!

Receive a Discounted Interest Rate

First-time buyers receive a discounted interest rate based on current market rates. In fact, interest rates for our First-Time Buyer program are typically a full point or more below our conventional mortgage rates in an effort to help more people qualify for a home purchase. These loans only require a minimum down payment of three percent and have a loan fee half that of a traditional OlyFed mortgage.


Sample Loan Payment Calculation
Calculation based on $240,000 conventional loan with 20% down payment. Payment calculations are principal and interest only and do not include taxes, insurance or Private Mortgage Insurance (PMI), which may increase your monthly payment.
Interest Rate: 5.750%
Annual Percentage Rate (APR): 5.860%
Loan Fee: .05%
Number of Payments: 360
Monthly Payment: $1,400.57
Total Interest Paid: $264,784.76


Rates effective February 14, 2023 and are subject to change. Current Rates. Loans with less than 20% down will require Private Mortgage Insurance (PMI). Product for owner-occupied purchases only.

Why Choose OlyFed?

  • What starts at OlyFed stays at OlyFed: We don’t sell our loans to third-parties — that’d be like selling our relationship with you! We assure top-quality service by providing it ourselves.
  • Everyone gets the same great rate: No risk-based pricing with our home loans,  you’ll get our advertised rate regardless of credit score.
  • You’ll always get the best deal before closing: We hold your rate at application, but if a better number comes along, no worries; it’s yours.