Interfirst Mortgage

Interfirst Mortgage Review

Interfirst Mortgage is offered by Chicago Mortgage Solutions LLC (NMLS #7872), a direct lender founded in 2001 and based in Rosemont, IL. Interfirst Mortgage is available in 40 states (and Washington, DC).

Key Takeaways

• Instant online preapprovals. Find out how much you can borrow and what your interest rate will be.
• Only offers one mortgage pogram. Interfirst Mortgage only provides jumbo mortgages.
• Financing for a variety of property types. Offers home loans for manufactured, single, and multi-family homes.
• Standard interest rates types. Interfirst Mortgage offers adjustable-rate mortgages and fixed-rate mortgages.
• Considers personal use and investment properties. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
• Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
• High maximum LTV ratio. Interfirst Mortgage has a maximum loan to value ratio of 85%, which is higher than average. Most lenders want you to have at least 20% equity.
• Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Interfirst Mortgage.
• Fair credit accepted. Borrowers with a credit score as low as 620 may qualify for Interfirst Mortgage.

Interfirst Mortgage Pros & Cons

Interfirst Mortgage FAQ

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

Interfirst Mortgage offers mortgages with terms ranging from 10 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 Chicago Mortgage Solutions LLC 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.

Does Interfirst Mortgage charge an application fee?

No, they don't charge an application fee. However, the cost of the loan process is most likely included elsewhere in the closing costs.

Do they charge mortgage origination fees?

Yes, Interfirst Mortgage may charge a loan origination fee.

What mortgage programs are available?

Besides conventional mortgages, Interfirst Mortgage offers the following mortgage types:

• 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).

What property usage types does Interfirst Mortgage allow?

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

• Primary home
• Secondary homes and vacation properties
• Investment properties and house flipping projects

What is the customer service phone number?

The customer service number for Interfirst Mortgage is (847) 999-7283.

What is the support contact email?

The support contact email for this business credit card is info@interfirst.com.