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  FirstBank Mortgage Loan

FirstBank Mortgage Loan

in Home Purchase Mortgages from FirstBank · NMLS ID #458768

Unaffiliated

FirstBank Mortgage Loan

Unaffiliated

in Home Purchase Mortgages from FirstBank · NMLS ID #458768

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Highlights
Loan Amount N/A
Loan Term (Years) 5 - 30 years
Credit Score Range 650 - 840

FirstBank Mortgage Loan Review

FirstBank Mortgage Loan is offered by FirstBank (NMLS #458768), a bank founded in 1963 and based in Lakewood, CO. FirstBank Mortgage Loan is available in 3 states across the USA.

Key Takeaways
  • 6 different mortgage programs offered. FirstBank Mortgage Loan offers FHA, USDA, VA, jumbo, conforming, and conventional mortgages.
  • Financing for a variety of property types. Offers home loans for manufactured, single, and multi-family homes.
  • Standard interest rates types. FirstBank Mortgage Loan offers option ARM mortgages, adjustable-rate mortgages, and fixed-rate mortgages.
  • Primary and secondary homes considered. Investment homes, such as rental properties, do not qualify for financing. However, FirstBank Mortgage Loan does offer financing for primary and secondary homes (e.g. vacation properties).
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
  • Origination fee of 1%. This is on the low end for lenders that charge an origination fee. However, some lenders don't charge an origination fee.
  • Fair credit accepted. Borrowers with a credit score as low as 650 may qualify for FirstBank Mortgage Loan.
FirstBank Mortgage Loan Pros & Cons
Pros Cons
  • Considers applicants with fair credit.
  • Offers financing for single family, multi-family, and manufactured homes.
  • Charges an origination fee of up to 1% of the loan amount.
  • Charges prepayment fees.
  • Only available in 3 states.
FirstBank Mortgage Loan FAQ

What is the maximum loan term you can get with FirstBank Mortgage Loan?

FirstBank Mortgage Loan offers mortgages with terms ranging from 5 to 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What mortgage rates does FirstBank offer?

Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.

FirstBank Mortgage Loan offers home loans with APRs starting at 2.74% .

Does FirstBank Mortgage Loan charge an application fee?

Do they charge mortgage origination fees?

Yes, FirstBank Mortgage Loan may charge a loan origination fee of 1% of the loan amount.

What mortgage programs are available?

Besides conventional mortgages, FirstBank Mortgage Loan offers the following mortgage types:

  • FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
  • Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency ($548,250 as of 2021).
  • USDA loans: A zero down payment mortgage loan with low mortgage rates for suburban and rural homebuyers. The USDA doesn't require a minimum credit score, but most mortgage lenders require a minimum credit score of 640.
  • VA loans: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses. VA loans offer competitive mortgage rates, and don't have a minimum credit score. However, the mortgage lenders that offer them will typically require a credit score of at least 640.

What property usage types does FirstBank Mortgage Loan allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. FirstBank Mortgage Loan allows the following property usage types: 

  • Primary home

What is the customer service phone number?

The customer service number for this business card is .

What is the support contact email?

The support contact email for this business credit card is banking@efirstbank.com.

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Availability

  Available in 3 states
  • Arizona
  • California
  • Colorado

Feature Breakdown

Origination Fee (%) 1%
Credit Score Range 650 - 840
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Intended Use Primary Home
Minimum Age 18
Property Type
  • Manufactured/Mobile Home
  • Multi-Family Home
  • Single Family Home
  • Townhome
Verification Documents Required
  • Recent Pay Stubs
  • Proof of Income
  • Proof of Identity
  • Government Issued Photo ID
  • Recent Bank Statements
  • Social Security Number
  • Driver License (or other photo ID)
Investment
Primary Residence
Mortgage Features Loan Portability
APR Starting at 2.74%
Loan Term 5 - 30 years
Interest Rate Types Offered
  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)
  • Option ARM
Mortgage Programs
  • FHA
  • USDA
  • VA
  • Jumbo

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