FIRST-TIME HOMEBUYER
Loans

Congrats on taking the first step in becoming a new home owner! Purchasing a home can be one of the biggest investments you’ll ever make in your lifetime, and learning all the ins and outs your first time around can be rough.

 

We’re here to help. There are many loan options available in today’s market, and our loan officers will give you the attention and guidance that you need to get into your dream home.

 

At Family First Funding, we are dedicated to finding the loan that fits your individual needs and we will walk you through each stage of the process. Our loan finder below will give you some loan options to explore, but you’ll want to get in touch with a loan officer for more details.

 

Click Here to Download Our First-Time Homebuyer Guide!

 

FTHB

FTHB LOANS

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Conventional Loans

Great for clients with established credit, stable income, lower DTIs.

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HomeStyle®

Renovations needing 6-9 months.

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CashPower™

Use the power of a cash offer without needing your own cash.

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HomeReady®

For lower-income buyers who don't have a large down payment saved.

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Home Possible®

For low- to moderate-income borrowers. Requires 3% down.

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FHA Loans

Low down payments. Low closing costs. Easy credit qualifying.

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FHA 203(k) Loans

Renovations needing 6 months or less. Lower credit scores and down payments.

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CHOICERenovation®

Larger renovations needing more than 9 months.

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Renovation Loans

Looking for a fixer-upper? Start your next project with us! We have several great loan products to choose from. 203(k), Fannie Mae Homestyle® and more!

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USDA/Rural Loans

Zero money down and 100% financing available if you live outside of a metro area.

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DPA Loans

Loans that reduce the amount you need for a down payment.

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Niche Loans

Loan options for those who don't fit traditional mold.

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Jumbo Loans

Loan amounts from $417,000 up to $3,000,000. Credit scores as low as 680. As little as 15% down.

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No loans available.

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HOW MUCH WILL MY PAYMENTS BE?

Your payment will vary depending on how much you will be borrowing, the interest rate, and the length of your loan. Other factors also need to be taken into consideration, such as your taxes, your insurance, and your PMI, all of which are included in your monthly house payment. Even the value of your home will affect your payment.

Just as an example, let’s say you are borrowing $250,000.00 for 30 years with an interest rate of 5.875%. If the value of your home is $300,000.00, your property taxes $3,000.00 per year and your insurance is $1,500.00 per year, you can expect to be making a total payment of $1,958.01. This is because you need to pay $1,478.84 toward the actual loan, plus $250.00 for real estate taxes and $125.00 toward insurance.

Since your loan to value ratio is 83.33%, you will also have to pay PMI for 16 months which will add an extra $104.17 a month. Don’t forget to drop the PMI when the 16 months is complete and you might save yourself some money each month. Canceling your PMI will require a reappraisal of your home in most cases.

Loan Information

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Property Information

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Taxes and Insurance Information

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WHO ARE WE?

GET TO KNOW US

Family First Funding LLC is a State Licensed Mortgage Bank founded in 2011 and headquartered in Toms River, New Jersey, licensed in 35+ states. Our responsibility as mortgage professionals goes beyond just providing a rate quote. We help each client determine what their financial goals are and qualify them for a successful mortgage investment. We want you to feel empowered to make informed decisions on your mortgage. Buying a home is not only a huge financial investment, it is also a deeply rewarding experience. As you begin this next chapter, we’re grateful to guide you through the process.

 

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We Make Purchasing Easy

THE MORTGAGE PROCESS

01
Get Pre-Approved
Submit a mortgage application and all preliminary documents including, but not limited to W-2s, pay stubs, and bank statements.
Establish Your Team
Connect with one of our Loan Officers who can recommend reputable Realtors, Attorneys, Inspectors, and Title Companies in your area.
Find a Home & Make an Offer
Shop with your Realtor and find a home. Purchase contracts will be written, and a small deposit will be required regardless of which loan option you choose.
Complete Your Application
Submit updated documents and finalize your loan application. Once you e-sign your application, your loan will be submitted for disclosures & processing.
Processing
You will receive your Welcome Package and one of our processors will complete all updated information verifications for credit, employment, and assets.
Underwriting
After processing, your loan is submitted to underwriting where your loan is given conditional approval. When approved, a commitment letter is issued and sent to you and your attorney to review.
Get Commitment
Submit all outstanding closing condition items for the commitment letter prior to final clearance.
Clear to Close
You and your attorney are notified that your file is "clear to close", and a closing date is scheduled by your attorney with the bank attorney.
Move In!
Congratulations! You are now a homeowner! Receive your keys and enjoy the tax advantages and personal benefits of owning a home!
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