A 33-year-old music teacher and FPCU member was seeking a fresh start in 2024 when he applied for a new teaching job in the Sacramento area, where he could live more comfortably on a teacher’s salary.
The member faced a very tight timeline. He needed to finish out the school year at Orange Unified in mid-June 2024, move out of his apartment by July, and settle into Sacramento before the new school year began. This left him with only a few weeks to find a place to live.
Fortunately, the member had a long-standing relationship with FPCU, having joined years earlier after being referred by his uncle to the Brea branch for an auto loan. During a conversation about his upcoming move, FPCU shared that renting an apartment in Sacramento would cost nearly as much as owning a home. Excited by the possibility of buying his first home, the member also shared his concerns. He had limited savings, multiple student loans, and had been told by his primary credit union that he would need at least 3% down plus closing costs, which felt unrealistic given his timeline. Our team acted quickly and helped the member get preapproved, secure a $50,000 FHLB grant, and navigate every step of the homebuying process. On July 26, 2024, the member closed escrow on his first home, a townhome in Sacramento, just in time to move in that weekend and prepare for the start of the new school year in his new school district.
