• Competitively low variable and fixed rates
• Wide range of terms available
• Pre-approval available
• No pre-payment penalty
• Refinance for a potentially better rate
• Streamlined, on-time closings
• Local servicing for the life of the loan
• Affordable monthly payments
• Local decisions made in the St. Louis area
• Prompt responses and personal service

Ready to Apply?

Get more information and apply online at our Home Mortgage Center.

Get a free annual credit report. 

See the Home Mortgage Disclosure Act (HMDA).

See MLO list here. For more information about the registry, please visit the NMLS website.

Please note: If approved, applicants must qualify for membership.

Calculate Your Payments

First-Time Home Buyer¹

This mortgage is designed to meet the needs of the first-time home buyer. It has minimal out-of-pocket costs (prepaid items). It has no origination fees, no closing costs, no private mortgage insurance (PMI), no down payment requirements and no prepayment penalties. It has a competitive rate and is available as a 30-year fixed rate or a 5/5 ARM. To qualify as a first-time home buyer, the applicant cannot have owned a home or had an ownership interest in a primary residence for the past three years.

If you have had joint ownership in a home in the last three years, you can apply as an individual applicant and qualify for the first-time home loan.

We've put together a First-Time Home Buyers Guide. It will help walk you through the home-buying process so you know what to expect and can be prepared. 

Smart Choice Home Loan

Our newest mortgage product! This loan will be offered as a 30-year fixed-rate loan with a rate of 6.75% for all qualified borrowers. It requires a 10% down payment and there's no PMI. Jumbo loans are welcome! Refinances of existing First Community first mortgages loans are not eligible. As always, there is no fee for the application, underwriting or processing of our loans. 

Affordable Alternative Mortgage

First Community offers a 5-year Adjustable Rate Mortgage (ARM) that provides a lower initial monthly payment and slowly adjusts over time. The initial rate remains the same for the first 5 years, and it cannot adjust more than 2% at each adjustment and no more than 6% over the life of the loan. Jumbo loan amounts are available as well as a 7-year ARM. For all ARM loans, only 10% down is required to avoid Private Mortgage Insurance (PMI). 

Fixed-Rate Mortgages

The fixed-rate mortgage provides the security of a fixed interest rate for the entire life of the loan. First Community offers 10, 15, 20 and 30-year fixed mortgages. We recommend this loan if you plan to stay in your home for more than 10 years and want the security of mortgage payments that will not change.

Vacation Home Loans

Thinking about a home away from home? Buying your own vacation home allows you to get away as often as you like! There's limitless potential for a home right on the lake, in the mountains, beach or something nestled off the beaten path. We can help make it a reality with a home loan. With a variety of loan products available, low fees and competitive rates there will never be a better time! 

Land Loans

First Community will finance the acquisition of land or refinance a land loan whether you intend to build a home or just invest. All vacant land loans are amortized over 15 years and 2, 3 or 5-year balloon land loans are available. 

Jumbo Loans

If you need to borrow at least $806,500 it is considered a “jumbo mortgage.” We have adjustable and fixed rates for our jumbo mortgages. Not everyone offers jumbo mortgages and our rates are always competitive.

Mortgage products are subject to change without notice. 

$1 share deposit required. Must quality for membership. Loan subject to credit approval. Rates, terms and conditions are subject to change without notice. Escrow account required. Homeowners insurance, real estate taxes and interim interest must be pre-paid at closing. First Community Credit Union NMLS ID # 684198. Federally insured by NCUA. Equal Housing Lender. Properties must be owner-occupied or a secondary residence. Only available in Missouri, Illinois, Colorado, Kansas, Arkansas, Tennessee, North Carolina, South Carolina, Georgia, Alabama and Florida. Required LTV may vary by state.

1 First-time homebuyers are defined as those persons who have not owned a home or had an ownership interest in a primary residence for the past three years. 

Remember that your annual real estate taxes are paid directly by First Community using the funds in your escrow account. For questions contact Loan Servicing. 

Shortage Information Form 

If you have a shortage in your escrow account for your mortgage, you may transfer funds from your First Community account to your escrow. The shortage amount is listed on your Escrow Statement. The Escrow Statements are mailed out every year in late January. If you utilize E-Statements, you can find it within Online Banking. If you do not want to mail in your Shortage Information Form or take it to your local branch, you may use the electronic Shortage Information Form on our website.  

If you have further questions on this form, please see our FAQ or email [email protected]. 

First Community understands that home-buying is a giant milestone in life, and we are here to help you achieve your goals. We are happy to extend our mortgage product availability through our partners at First Heritage. This partnership was developed in an effort to give our membership an option for applying for a 30-year fixed FHA or VA loan.

What Is an FHA Loan?

A Federal Housing Administration (FHA) loan is a mortgage that is insured and guaranteed by the government. FHA mortgages are fixed-rate loans with a 30-year term.

Benefits of an FHA Loan

An FHA loan may be a great option if your credit score has been a hurdle or if a lower down payment is a better fit for your budget. Due to the lower credit score and down payment requirements, FHA loans are especially popular with first-time homebuyers. FHA loans allow people facing financial challenges to buy a home and start building equity sooner.

What Is a VA Loan and what are the benefits?

The VA loan program offers a type of government-backed mortgage loan to qualified current and former military members and eligible spouses.

Benefits are:

• No Down Payment: Unlike most mortgages, eligible borrowers can borrow up to the full purchase price of the home, so they don’t have to worry about setting aside money for a down payment.

• Affordable Rates: Competitive VA loan interest rates could help you pay less over the life of the loan.

• No Private Mortgage Insurance (PMI): With conventional mortgages, you’ll need to buy PMI unless you have a down payment of at least 20% of the home’s purchase price. VA loans don’t require private mortgage insurance.

• Fewer Closing Costs: When you buy a home with a conventional mortgage, you can expect to pay thousands of dollars in closing costs before you can get the keys to your home. With a VA loan, you’ll pay fewer closing costs, as the Department of Veterans Affairs limits what lenders can charge you. (However, bear in mind that many VA loans do come with a significant upfront funding fee, but this can be rolled into the loan.)

Please note, First Community has partnered with First Heritage and the application will be underwritten, processed and serviced by First Heritage.  You may apply on our website by clicking "Apply Now" at the top or bottom of this page. If you have any questions, you may contact
First Heritage at (800) 808-2662.