Conventional Financing

Why Should 1st Choice Mortgage, Be Your First Choice?

As little as 3% required for down payment

• As little as 3% required for down payment
• Conventional mortgage rates
• Minimum FICO Score 620
• Owner Occupied, Second Home or Investment Property
• Monthly Mortgage Insurance potentially removable, see requirements here.
• Single Family Home, New Construction, Condo, Duplex, Manufactured homes.
• Bankruptcy 7: 4 years from Discharge
• Foreclosure/Shortsale:  4 months from Discharge

Link here for more info

Seller can pay all closing costs.

Conventional REFINANCE

• Lower your interest rate or take your 30 Year loan to a 15 Year loan.
• You can also do 80% Cash OUT Refinance.
• Loans prior to 2009 potential eligible for HARP, see more info here.
• FICO Score:  580 for IRRRL, 550 Cash out
• Owner Occupied, 2nd Home or Investment Properties.
• No Monthly Mortgage Insurance if <80% Loan to value
• Single family, Condo, Townhome, Manufactured homes
• Bankruptcy 7:  4 years

Link here for more info

Closing costs rolled into loan or paid in rate.

VA CONSTRUCTION

• Work with a builder of your choice with the VA’s One Time Close Construction Loan
• Downpayment: ZERO
• FICO Scores down to: 550
• Owner Occupied Only
• No Monthly Mortgage Insurance
• Single Family, Manufactured homes
• Bankruptcy 7: Discharged for 24 months
• Foreclosure/Shortsale: 24 months from Discharge
• VA funding fee waived for certain Veterans

Link here for more info

Seller can pay for all closing costs.