CHOOSE FROM A VARIETY OF LOAN OPTIONS
FirstBank Mortgage is here to help you with your home financing needs and we offer a variety of mortgage loan options to meet your specific requirements. Our local loan officers help you select the loan that works best for your circumstances and we back that up with local underwriting. You can feel confident choosing us as your financial partner for this important milestone in your life. Whether you need a mortgage pre-approval or help after the closing, we’re available online, on the phone or face-to-face every step of the way. That’s why our Loan Officers receive some of the highest Customer Reviews in the industry >
Here are a few loan options that we offer:
Adjustable-rate Mortgage (ARM)
With an ARM, the interest rate is locked in for an initial time period but can fluctuate annually, depending on the federal prime rate, after the locked period expires. The fluctuating interest rate can increase or decrease the amount of your monthly payment. For some buyers, they want low payments early in the loan and are comfortable with a monthly payment that can change.
A fixed-rate Mortgage offers you the security of having the same interest rate over the life of the loan. A variety of loan terms are available, but fixed-rate mortgages are normally 15 or 30 years.
FirstBank Mortgage offers a variety of options for first-time homebuyers who need a loan with lower down payment requirements or lower closing costs. If you’re saving up to buy your first home, you may be relieved to know that for most buyers, low to no down payment options are available. Our First-Time Home Buyer’s Guide is free to download, and offers step-by-step guidance for the home buying process. Download the guide here.
USDA loans do not require a down payment and are backed through the Rural Housing Division of the U.S. Dept. of Agriculture. While limited to “rural” areas, some suburbs of major metropolitan areas may qualify. They are available to eligible homebuyers with low-to-moderate incomes or scarce funds for down payments.
Affordable Home Loan Programs
FirstBank Mortgage also offers several affordable home loan programs that feature more flexible qualifying criteria than conventional loans. Borrowers can make a lower down payment than would otherwise be required and/or pay lower closing costs. Subsidies can come from a variety of sources, including grants and unsecured or secured loans from nonprofit organizations, government agencies or corporations.
FHA FIXED-RATE LOANS
FHA loans are insured by the Federal Housing Administration (FHA), and are available for purchase and refinance loans. They offer a low down payment as little as 3.5% down and fixed monthly payments. FHA loans are popular with first-time homebuyers who may not qualify for other loan programs.
VA FIXED-RATE LOANS
Veteran’s Administration or “VA” loans are available for active, non-active and retired U.S. Military vets who meet the established service requirements. VA loans can be used as a purchase or refinance loan for a primary residence and feature a no or low down payment.
A jumbo mortgage is a mortgage loan that may have high credit qualify, but is an amount above conventional loan limits. Fixed and adjustable rate options are available for loans up to $2.5 million.
Now you can open the door to your new home and leave the worry to one of the leading mortgage companies in the Southeast. FirstBank Mortgage gives you more attention, a better one-on-one approach, and more personal customer service. One of our local Loan Officers is ready to assist you today in selecting the loan product that best meets your needs. Click below and locate the Loan Officer nearest you. You can also use our toolkit to access handy calculators and a downloadable checklist of the information you’ll need to gather during the loan process. After all, it’s all about making the process as turnkey as possible.