First Time Homebuyer

Purchase with only 3% Down*
Save $499 - no origination fee+

Turn your Dream into a Reality 

If saving 20% for a down payment seems like a fantasy, it’s time to wake up and check out Scient’s First Time Homebuyer options.  With as little as 3% down, home ownership can be your reality. 

Benefits of a Scient First Time Homebuyer loan

Lower Costs 

  • 3% down payment vs. FHA loans at 3.5%
  • No upfront mortgage insurance payment 
  • Competitive rates
  • Flexible terms and payment options
    • Including ARM loans

Faster Closing

  • Less paperwork required than FHA Loans
  • Fewer steps for more efficient processing time

Easy PMI Cancellation 

  • Private mortgage insurance (PMI) is temporary compared to government-insured loans
  • Private mortgage insurance may be canceled after building enough equity




Have questions?  Our Mortgage Manager, Faith Silva, is here to help.   Contact her at 860 441 0914.


*For a loan amount of $200,000 at 97% LTV with a 30 year term and rate of  6.50% has an APR  (Annual Percentage Rate) of 6.67%  and a monthly payment at $1,264.14. Sample payment only
includes principal and interest.  It does not include mortgage insurance, property insurance and taxes, and the payment will be higher than this disclosed amount.  Minimum credit score is 620. Primary residence only on a single family home or condominium only.  Rates as of 9/27/22 and subject to change without notice.  +Waiver of Loan Origination Fee of $499 on First Mortgages with Scient Federal Credit Union.  Other terms and conditions may apply. 


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Homebuyer Grant Programs

Down-Payment Assistance
Rehabilitation Assistance

The Equity Builder Program (EBP)

This grant program helps first-time homebuyers earning up to 80% of the area median income with down-payment, closing cost, home rehabilitation assistance and homebuyer education and counseling.

The maximum amount allowed is $30,806 per household for a Scient member.

   Program Offers & Requirements

 Equity Builder Program (EBP)

Annual Membership Application Required
Maximum Grant per Household $30,806
Maximum Funds to Member $350,000
Minimum Down Payment (homebuyer's own funds) $500
Down Payment Yes
Closing Costs (including Homebuyer Education & Counseling Fee) Yes
Discounted Points/Interest Rate Reduction Yes
Rehabilitation Assistance Yes
Purchase Price Limit No
Purchase property must be an owner-occupied primary residence? Yes
First-time Homebuyer Education & Counseling Required
5-year retention mortgage and note Required
First-time homebuyer Required
Member concesion/incentive homebuyer Required


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There are a lot of things to know when buying a home. Here are some terms, checklists and worksheets to help guide you along the way.

Contact Us for More Information 

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