Hey there soon-to-be homeowner! We know you have a ton of questions about the purchase process and we’re here to help. Navigate to our Blog page to find answers to common questions, search for a branch or loan officer near you, or explore calculators and programs on the next page.
You’ve done this once, maybe twice, and we know that each new home purchase is a step towards your next chapter of life. Whatever the reason is for a new home purchase – growing your family, downsizing for retirement, or moving to a new place, we’ve got you covered with plenty of loan options to choose from.
If rates have dropped since you last financed your home, you may want to consider refinancing. But that’s not the only reason people refinance. Maybe you want to convert to an adjustable or fixed rate loan, or you might need to extract cash equity in your home (cash out) for things like education or bills.
Searching for a fixer-upper? Starting your next renovation project? We have a wide variety of loan products to fit your needs. Renovation loans give homeowners the benefit of a home value increase upfront before the project even begins. We offer FHA, Conventional, and VA loan programs for your next reno.
Are you 62 or older? A reverse mortgage might be the loan option for you. Tap into the equity you’ve already built in your home and get the funds to help pay for the things you want or need while you continue to live in and own your home. Family First Funding has reverse loan specialists available and is a member of the National Reverse Mortgage Lenders Association.
Are you a seasoned investor, landlord, or homeowner looking for your next investment? We offer Fix & Flip, Construction, One-Time Close, and second-home loan options for every type of investor – big and small. We’re looking forward to working with you and helping you reach your next investment goal.
You’re more than an investor. You’re building a commercial empire, and you need the funding to do it. We offer a wide range of options; Permanent Loans, Construction Loans, Bridge Loans, Small Business Financing, Fix & Flip, and Private Lending, just to name a few. Get in touch with our Commercial Capital Division to learn more.
FHA loans have been helping people become homeowners since 1934. Some benefits of FHA loans are low down payments, low closing costs and easy credit qualifying.
You’ve served our families. Now it’s our turn to serve yours. VA loans are available to active and veteran service personnel and their surviving partners.
In 2009 the USDA changed its rules and made millions of Americans eligible for its rural mortgage programs. With the USDA loan, many are able to get a zero-down home loan for rural property. Ready to get your little slice of the US?
Have a big project, home purchase, or investment in mind? Get access to loan amounts up to $10,000,000. Qualify with credit scores as low as 680, and put down as little as 10%.
A reverse mortgage is a loan option for people age 62 and older that allows you to tap into the equity you’ve already built in your home. It provides funds to help pay for the things you want or need, while you continue to live in and own your home.
You might not fit the traditional mold, and that’s okay. We offer many out-of-the-box loan options and non-QM programs. Portfolio lending, home equity loans, commercial loans, bank statement programs, and much more!
You’re more than an investor. You’re building a commercial empire, and you need the funding to do it. We offer a wide range of options; Permanent Loans, Construction Loans, Bridge Loans, Small Business Financing, Fix & Flip, and Private Lending, just to name a few. Get in touch with our Commercial Capital Division to learn more.
Can’t find what you’re looking for? We have many loan options to choose from! Use our Loan Finder on the next page to filter loan options based on buyer type or explore our mortgage calculator.
Ahhh refinancing! We all love saving money, and if rates have dropped since you last financed your home, you may want to consider refinancing. Other common reasons to refinance include paying off a balloon payment, converting an adjustable rate loan to a fixed rate loan, or to extract cash equity in your home (cash out).
A few reasons for cashing out include: home improvement, an education fund, and consolidating debt. When you close on your mortgage loan, you’re not stuck with the same one forever! Many homeowners refinance their mortgage at some point during the life of the loan (even more than once), for a number of different reasons that put them in a better financial position.
Another way to convert equity in your home to cash is a “home equity” loan. A “home equity” loan is an alternative to refinancing if your home loan has a very low rate compared to current interest rates or if you have a prepayment penalty on your loan. So even if rates are on the rise, there are still other ways you can benefit from your home.
Please note that by refinancing your existing loan, your total finance charges may be higher over the life of the loan.
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.
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.
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!
Testimonials
What Our Customers Are Saying
Testimonials
What Our Customers Are Saying
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Everyone we came across at the company made our process a lot less stressful. They answered all our questions and made sure we handed everything that needed to be handed in on time. Thanks!
Paul K. / Homebuyer, NJ
We highly recommend Family First as they are an amazing team, efficient, honest and always available! Not only would I recommend Family First to my clients, I do use them for our family's mortgage needs!
Lisa C. / Real Estate Agent, FL
Great service, very professional. Highly recommended!
Christofer V. / Homebuyer, TX
Expertise, open communication at all times, and complete confidence knowing that my Buyer was wonderfully serviced and their loan would close!
Laure M. / Real Estate Agent, NJ
It was a smooth process from start to finish and I appreciate the time each of them took to answer any questions I may have had with respect to the process, the paperwork, etc. They were all incredibly kind, helpful, and responsive no matter how small the question may have been, and as a first time homebuyer I am very grateful for that.
There’s a stigma that follows FHA loans and conventional loans. Most people assume that FHA loans are for first-time home buyers and that conventional loans are for seasoned buyers…well, that’s not always the cases.