SchoolsFirst Federal Credit Union Lowers Down Payment Requirements to Expand Mortgage Access for School Employees
TUSTIN, Calif. (Jan. 22, 2026) – SchoolsFirst Federal Credit Union announced that it has lowered the down payment
requirement for school employee Members seeking a mortgage loan from 5% to 3%
of the purchase price to improve access to homeownership. The reduced down
payment ensures more school employee Members may be able to achieve their dream
of owning a home.
Recent data shows that homeownership for Californians is increasingly out of reach, with just 17% saying they can afford a home, according to the California Association of REALTORS® C.A.R.). As a leading advocate for strengthening the financial well-being of California school employees, SchoolsFirst FCU is taking steps to help bridge the gap.
“California’s school employees dedicate their lives to
educating and supporting our communities, yet too many are being priced out of
the dream of homeownership,” said Bill Cheney, chief executive officer of
SchoolsFirst Federal Credit Union. “Our purpose is to serve the people who
serve others, and that means taking real action to make homeownership more
attainable. By reducing upfront barriers through enhancements to our mortgage
lending program, we’re opening doors for our Members to put down roots, build
stability and create generational wealth.”
As the largest Credit Union in California and the largest Credit Union serving school employees in the nation, SchoolsFirst FCU is committed to making homeownership more attainable for its Members in California, one of the most expensive real estate markets in the U.S.