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.



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To Refinance You’ll Need:

  • Property Appraisal
  • Employment Verification
  • Income Verification (if not a Streamline Refinance)
  • Asset Verification (only if needed)
  • Driver’s License


  • Reduce your interest rate and monthly payments*
  • Eliminate or reduce your monthly PMI
  • Accelerate your equity and pay off your loan faster
  • Roll your 1st and 2nd lien into one low fixed rate loan
  • Transition into a Reverse Mortgage loan



Conventional Loans

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

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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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Renovations needing 6-9 months.

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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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Larger renovations needing more than 9 months.

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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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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.



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.

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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


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.
You will receive your Welcome Package and one of our processors will complete all updated information verifications for credit, employment, and assets.
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!

What Our Customers Are Saying


What Our Customers Are Saying


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.

Jessica S. / Homebuyer, NJ
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