First Call’s residential mortgage product portfolio contains a comprehensive and diverse product offering. We have strong alliances with the largest investors in the home mortgage business. This provides First Call with the unique ability to provide multiple financing options to many customers who often struggle to find a single option in many local banks and mortgage brokers.



 

Fixed Rate Mortgages

The traditional staple of the mortgage business is the thirty year fixed loan. Fixed rate mortgages are the most common type of mortgage programs where your monthly mortgage payments for interest and principal never change. The most common terms for fixed rate mortgages are 30 and 15 years, however First Call Mortgage can provide fixed rate mortgages for almost any number between 10 and 30 years.

We also have 30 year fixed products that have multiple payment options. Interest only fixed rate mortgages allow clients to significantly lower their monthly payment to suit their personal financial goals.
 

Adjustable Rate Mortgages (ARM's)

Adjustable Rate Mortgage programs have a very diverse range of options. These mortgages generally begin with an interest rate that is 2-3 percent below a comparable fixed rate mortgages and could allow you to buy a more expensive home or reduce the amount of capital investment that is required to own a home.

ARM's have a period of time for which the rate is fixed. After that fixed rate period expires, the interest rate on the mortgage will adjust based on a margin and an index that are set at the time of the loan inception. The fixed rate time period for an adjustable rate mortgage can be as short as one month or as long as ten years. Your First Call loan officer can recommend different options for you after gathering information about you and your personal goals.

FHA Mortgages

Backed by the Department of Housing and Urban Development, this mortgage offers the borrower the ability to put as little as 3% down payment and they can even finance “allowable” closing costs. The seller can contribute up to 6% of the purchase price to the buyer towards closing costs.

203K FHA MORTGAGE

This program is the same as FHA above but with the ability to finance home improvements that are needed. One mortgage is given based on the value plus improvements up to 115% of the future value. These improvements must be to structurally improve the property. You cannot use this program to add a swimming pool for example.

Combination Loans

First Call Mortgage loan officers have the experience to know when it pays to use a combination of two loans to purchase a home rather than use a single mortgage. Combination loans often fit your specific needs more appropriately then a single large first mortgage. As an example, combination mortgages will allow you to finance a home with a small down payment, yet avoid costly private mortgage insurance (PMI).

Alternative loan programs

No Income Verification

For any number of reasons, you may not be able to document your income. First Call has a variety of programs that will allow you to obtain a mortgage by just verifying employment but not income.

No Documentation Loans

Many times a borrower has no ability to document adequate income and assets to purchase a home through conventional means. First Call Mortgage has a large variety of no documentation loans to ensure that financing is available to as many customers as possible.

Construction Loans

We offer a number of different types of construction loans. Building your dream home can be one of the most exciting events in you life, that is, unless you get sidetracked by complicated approval processes that many construction loans are known for. First Call will help you navigate through the process of your construction loan.

Investment Property Loans

Financing investment properties is often more complicated and requires experience that not all mortgage companies have. First Call loan officers have extensive experience in financing all types of investment properties for all types of borrowers.