Conventional Financing

Low mortgage rates and low mortgage insurance


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Why Should 1st Choice Mortgage, Be Your First Choice?


Conventional Purchase

  • As little as 3% required for down payment
  • Conventional mortgage rates
  • Minimum FICO Score 620
  • Owner Occupied, Second Home or Investment Property
  • Monthly Mortgage Insurance potentially removable, see requirements here.
  • Single Family Home, New Construction, Condo, Duplex, Manufactured homes.
  • Bankruptcy 7: 4 years from Discharge
  • Foreclosure/Shortsale:  4 months from Discharge

Link here for more info

Seller can pay all closing costs.

Conventional REFINANCE

  • Lower your interest rate or take your 30 Year loan to a 15 Year loan.
  • You can also do 80% Cash OUT Refinance.
  • Loans prior to 2009 potentiall eligible for HARP, see more info here.
  • FICO Score:  580 for IRRRL, 550 Cash out
  • Owner Occupied, 2nd Home or Investment Properties. 
  • No Monthly Mortgage Insurance if <80% Loan to value
  • Single family, Condo, Townhome, Manufactured homes
  • Bankruptcy 7:  4 years 

Link here for more info

Closing costs rolled into loan or paid in rate.


  • Work with a builder of your choice with the VA's One Time Close Construction Loan
  • Downpayment:  ZERO
  • FICO Scores down to:  550
  • Owner Occupied Only
  • No Monthly Mortgage Insurance
  • Single Family, Manufactured homes
  • Bankruptcy 7:  Discharged for 24 months
  • Foreclosure/Shortsale:  24 months from Discharge
  • VA funding fee waived for certain Veterns

Link here for more info

Seller can pay for all closing costs.