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Looking for an affordable mortgage program to purchase or refinance a home? The HomeFirst programs feature no or low down payments, no private mortgage insurance, fixed rates, and more flexibility.
HomeFirst† and HomeFirst Plus† offer affordable programs for homebuyers.
✓ Low Down Payment
✓ No Private Mortgage Insurance
✓ 620 Minimum Credit Score
✓ Fixed Rate
✓ May be combined with eligible grant programs
✓ Purchase or Refinance
✓ U.S. individuals and resident aliens
✓ Allow Seller/Builder paid closing costs up to 6% of sales price
✓ Seller/Builder paid buydown allowed
View Disclosures
✓ 100% Financing
✓ No Private Mortgage Insurance
✓ 620 Minimum Credit Score
✓ Fixed Rate
✓ May be combined with eligible grant programs
✓ Purchase only
✓ U.S. individuals and resident aliens
✓ Allow Seller/Builder paid closing costs up to 6% of sales price
✓ Seller/Builder paid buy down allowed
✓ Maximum loan amount $225,000†
View Disclosures
No, you do not need to be a first-time home buyer. The HomeFirst Mortgage loan has both a purchase and refinancing option.
To apply for a HomeFirst mortgage with Firstrust Bank, access this online link.
You can find out whether you qualified for the HomeFirst or HomeFirst Plus mortgage by calling 833-962-HOME for a free consultation with one of our Loan Officers who can walk you through the pre-approval process.
HomeFirst - you can still apply if you have an existing mortgage and you would like to refinance.
HomeFirst Plus – is for purchase only.
HomeFirst Plus - the maximum loan amount is $225,000 as determined for 2024 by the Federal Housing Finance Agency (FHFA).
The minimum credit score is 620 for HomeFirst and HomeFirst Plus.
No, private mortgage insurance is not required for HomeFirst or HomeFirst Plus.
Yes, Housing Counseling is required for HomeFirst and HomeFirst Plus.
Yes, gift letters for a mortgage, in the form of a written statement confirming the funds given to a borrower for a down payment are a gift rather than a loan that must be repaid, are allowed for HomeFirst and HomeFirst Plus.
Yes, approved forgivable community seconds are allowed with no monthly repayment terms for HomeFirst and HomeFirst Plus.
Founded here, and family-owned, we know this region best and are committed to meeting the needs of our customers for generations to come.
Find the right mortgage with personalized guidance from your local mortgage officer. Contact a specialist today at 833-962-HOME.
Our mortgage team will ensure your mortgage experience goes smoothly and the closing process is easy and efficient.
Your debt-to-income ratio, or DTI, equals your monthly debt payments divided by your gross income (pre-tax monthly income), and is expressed as a percentage. Lenders use this number to determine your ability to afford your debt payments.
† DISCLOSURES:
HomeFirst - to be eligible for a HomeFirst mortgage the loan must be for the purchase or refinance of an owner-occupied home, the property must be located in a Firstrust Bank Assessment Area (Philadelphia, Bucks, Montgomery, Chester, Delaware or Lehigh Counties in PA; Camden County in NJ; or Baltimore County in MD). Also, either the property must be located within a low-to-moderate income census tract within these counties as designated by the US Census Bureau or the applicant's income must be no higher than the area median income where the property is located.
HomeFirst Plus - based on a $225,000 max loan amount for a 30-year fixed-rate mortgage with an APR of 7.132%, there would be 360 monthly payments of $1,496.93. To be eligible for a HomeFirst Plus mortgage the loan must be for the purchase of an owner-occupied home, the property must be located in a Firstrust Bank Assessment Area (Philadelphia, Bucks, Montgomery, Chester, Delaware or Lehigh Counties in PA; Camden County in NJ; or Baltimore County in MD) and the applicant’s income must fall within the low-to-moderate income level for the area where the property is located.
Mortgage loans are offered by Firstrust Bank NMLS # 424205. All loans are subject to individual credit approval. Pre-qualification is not a commitment to lend. Offer may not be combined with any other offer and may be revised or rescinded at any time without notice.
Firstrust National Licensing Service (NMLS Representatives)
FT-1273-04012024
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