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First Home Mortgage Refinance

in Mortgage Refinance from First Home Mortgage · NMLS ID #71603

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First Home Mortgage Refinance

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in Mortgage Refinance from First Home Mortgage · NMLS ID #71603

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Highlights
Highlights
Loan Amount Up to $3,000,000
Loan Term (Years) 10 - 30 years

First Home Mortgage Refinance Review

First Home Mortgage Refinance is offered by First Home Mortgage (NMLS #71603), a direct lender founded in 1990 and based in Baltimore, MD. First Home Mortgage Refinance is available in 20 states (and Washington, DC).

Key Takeaways

  • Mortgage programs available. First Home Mortgage Refinance refinances FHA, FHA 203k, USDA, VA, conforming, and conventional mortgages.
  • Interest Rate Types. First Home Mortgage Refinance offers hybrid mortgages and fixed-rate mortgages.
  • Considers personal use and investment properties. Refinancing 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 refinance loan early.

First Home Mortgage Refinance Pros and Cons:

Pros Cons
  • Charges an origination fee.
  • Charges prepayment fees.
  • No co-sign option.
  • Only available in 20 states.

What is the maximum loan term for a mortgage refinance via First Home Mortgage Refinance?

The term of a mortgage refinance will impact the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. First Home Mortgage Refinance offers mortgages refinancing with terms ranging from 10 to 30 years.

Does First Home Mortgage Refinance charge a mortgage origination fee?

Yes, First Home Mortgage Refinance will charge a loan origination fee.

What mortgage programs does First Home Mortgage Refinance offer?

First Home Mortgage Refinance offers the following mortgage types:

  • Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
  • FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
  • FHA 203k: An FHA mortgage you can also use to finance home improvements.
  • USDA: A zero down payment mortgage loan with low rates for suburban and rural homebuyers.
  • VA: 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.

What property usage types does First Home Mortgage Refinance allow?

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

  • Primary home
  • Secondary homes and vacation properties
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Other Services by First Home Mortgage

Availability

  Available in 20 states and Washington, D.C.
  • Colorado
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Indiana
  • Kentucky
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • New Hampshire
  • New Jersey
  • North Carolina
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Tennessee
  • Vermont
  • Virginia
  • West Virginia

Feature Breakdown

Intended Use
  • Investment
  • Primary Home
  • Secondary Home
Loan Term 10 - 30 years
Loan Amount Up to $3,000,000

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