Question: I see large differences in mortgage rates advertised by different lenders. Why is that so? Answer: Many lenders often advertise low “teaser” rates designed to generate phone calls. These rates may have additional points and fees added on to the rate prior to closing, or these programs are out of reach for all but a select few individuals with perfect credit and large down payments. In addition, if you are viewing rates posted by national lenders on their web sites, the rates advertised may not be available in your particular state. At First Mortgage Corp, what you see is what you get. Our rates are true and honest rates for the current marketplace. We ALWAYS show the number of points and options available. We keep our closing costs low and free of hidden fees that other lenders add on to their rate at closing. The fact is, First Mortgage Corp provides great rates AND great service. Question: The last time that I applied for a mortgage, it seemed as if the bank wanted my life history, and it still took them six weeks to give me an answer.... Give me a break! Answer: At First Mortgage Corp, we will give you a break. We use the latest automated underwriting technology to evaluate your loan request. Most often, this means REDUCED paperwork and a lightning fast answer on your loan. Most times this is done within minutes after completing your application with a Mortgage Advisor. To get a free preapproval, fill in our online applicationThis will allow you to get accurate mortgage qualification numbers without any obligation on your part whatsoever. We're always happy to answer your questions and provide the most hassle free mortgage experience as possible. Question: I am a first time homebuyer and am just getting started. Where do I begin? Answer: Congratulations on a wise decision to buy a home. You should start right here at the First Mortgage Corp web site by using our online application to determine your savings on buying a home vs. renting. You may obtain a quick prequalification certificate or simply calculate your monthly payment. Question: I have had some credit problems in the past. Can I still apply for a mortgage? Answer: Yes! First Mortgage Corp has many, many different mortgage programs available for borrowers with past (or present) credit issues. We specialize in securing financing for individuals that may have been turned down elsewhere. And if explaining your situation makes you uncomfortable, you may still apply online. Question: When is the best time to refinance? Answer: That depends on several factors, including your outstanding balance, your current interest rate and any outstanding debt that you may have. Even if you currently have a low rate on your mortgage, it may save you money to refinance and pay off your high interest credit cards and home equity loans. Click on our refinancing link /online applicationfor more information, or call 1-866-my-mtg-co and get expert advice on your specific needs from one of our Mortgage Advisors. Question: I saw that I could put 10% down and NOT pay PMI. Is this an option with First Mortgage Corp? Answer: Yes. First Mortgage Corp has several “NO PMI” programs available, including 100% financing. However, it makes sense to speak with a First Mortgage Corp Mortgage Advisor to get the specifics on program that's right for you. Often, avoiding PMI is not the least expensive route. Your First Mortgage Corp Mortgage Advisor can assist you in selecting the RIGHT mortgage choice for you. Question: All of my down payment money is a gift. Is this acceptable? Answer: First Mortgage Corp has access to several programs that DO allow for your entire down payment to be in the form of a gift. Contact your First Mortgage Corp mortgage expert for more information.