We've Got It!

As a top national home purchase lender, 1st Financial has the loan programs many of your clients are looking for. Whether your customers need to buy and renovate, buy with little down or move up with a jumbo loan, I am able to walk them through their options and get them pre-qualified so they can go home shopping with you this weekend!

Conventional Loans With 97% max financing* available for primary single-family residences; conventional loan may be your best source of financing.

Investment Property Loans Discover a variety of Fannie Mae real-estate-owned properties for the serious investor or the newbie flipper. Our financing helps you meet your real estate income goals with programs for investors who are looking to renovate or finance up to 20 units, or who are cash buyers who later decide to mortgage the property, and more!

USDA Rural Financing Homeownership opportunities for low and moderate-income borrowers in rural designated area by USDA. Must meet USDA income limits, property must be in USDA eligible area: homebuyer counseling is required.

Veteran's Administration (VA) Loans Perfect for active and reserve military, we offer 100% financing up to VA county loan limits**, no mortgage insurance, and programs for buyers with credit scores as low as 580; spouses may also qualify.

FHA Loans A best choice for first-time homebuyers, buyers with little down payment, or with less-than-perfect credit

FHA 203(k) Renovation Loans Use this for complete home renovation with a Consultant loan or smaller projects ($35,000 or less) with a Streamline loan. Luxury items may not be included.

HomeStyle Renovation Mortgage Purchase and renovate most residential properties with this loan, including luxury items like pools.State and Local Bond Programs Perfect for buyers with little down and wanting down payment/closing cost assistance

Jumbo and Super Jumbo Ideal for borrowers who require higher loan amounts..

Fix and Flip loans for investor properties with a construction aspect. 10% downand repairs are financed.

Call me today to find out how I can help your clients meet their financial and homeownership goals!

Michael Alvarez (561) 962-5835 mike.alvarez@ffiloans.com nmls 257246

Loan ProgramsBelow is a brief description of your mortgage options and ways to get the process started:

Conventional Home LoansMost lenders would consider a conventional mortgage as a loan that conforms to the guidelines set forth by Freddie Mac and Fannie Mae, the two government sponsored enterprises (GSEs)

Jumbo Mortgage FinancingA jumbo mortgage is a mortgage with a loan amount above conventional conforming loan limits. This standard is set by the two government-sponsored enterprises

VA Mortgage LoansThe basic intention of the VA direct home loan program is to help supply home financing to eligible veterans in areas where private financing is not generally available and to help veterans

FHA Mortgage LoansThe FHA’s goals are to improve housing standards and conditions, provide an adequate home financing system through insurance of mortgage loans and to stabilize the mortgage market.

Reverse Mortgage Senior LoansA lifetime loan available to seniors, and is used to release the home equity in the property as one lump sum or multiple payments. The homeowner’s obligation to repay the loan is deferred until the owner

203k Rehab LoansThe financing for this loan will include the purchase price, as well as the improvements you are either required to do to be able to live in the home, or that you want to do, such as upgrade the kitchen

How Much Can I Afford?One of the most important items to remember when looking into financing is there is sometimes a difference in the amount a borrower can qualify for vs what’s comfortable in their budget

Property TypesWhether you are purchasing, doing a rate/term refinance or taking equity out of your property through a cash out refinance, occupancy type is a major factor in determining the amount of down payment

What is Mortgage Insurance?Mortgage insurance (also known as mortgage guaranty) is an insurance policy which compensates lenders or investors for losses due to the default of a mortgage loan.

FHA Mortgage InsuranceFHA insurance is required for any FHA mortgage, irrespective of the size of the down payment provided. The premiums for both insurances get cancelled at a certain point

Credit Do’s and Don’tsHow can a fully approved loan get denied for funding after the borrower has signed loan docs? Simple, the underwriter pulls a new credit report to verify that there hasn’t been any new activity / purchases.

VA Funding FeeThe VA Funding Fee is an essential component of the VA home loan program and is a requirement of any veteran taking advantage of this zero down payment government loan program.

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