Whether you’re looking for a new home, or exploring refinance options, you’re probably going to need a loan.
Pay for Home Improvements or Consolidate Debt
A cash-out refinance converts the equity you have in your home into cash that you can use to pay for home improvements or pay off debts, such as on a second...
Refinancing your home with First Funding, Inc. is a smart move
A home is the single largest asset many consumers have. Some borrowers refinance their mortgage to consolidate debt, access cash, lower their...
Are you ready to commit?
Before you start thinking about mortgage rates or house hunting, ask yourself a few questions:
Will there be any major changes in your life soon?
Starting a family or...
To help you navigate the loan process, here are some common loan types:
FHA insured loans often give potential homeowners the option of making a lower down payment than they would need to make if using a traditional, non-FHA insured mortgage.
VA loans allow eligible veterans and active military personnel to realize their home buying dreams and help existing VA homeowners with money-saving refinance options.
Conventional loans are obtained from mortgage lending institutions not backed by an agency of the government such as the U.S. Department of Veterans Affairs or the Federal Housing Administration. Conventional loans can be either conforming or non-conforming.
A conforming loan conforms to the guidelines set by Fannie Mae and Freddie Mac. The main guideline is the maximum loan amount. This amount can vary depending on the home’s location—for example, a house in a high-income area can be eligible for a larger loan than one in a general income area. Other qualification guidelines are concerned with the borrower’s debt-to-income ratio, loan-to-value ratio and credit history.
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