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Affordable HomeOwnership

Homefirst Mortgage Program

Looking for an affordable mortgage program to purchase or refinance a home located in the Philadelphia region? The HomeFirst mortgage is an affordable option to achieve your home financing goals.

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Frequently Asked Questions

Do I need to be a first-time home buyer?

No, you do not need to be a first-time home buyer. The HomeFirst Mortgage loan has both a purchase and refinancing option.

How do I apply for a HomeFirst mortgage with Firstrust Bank?

To apply for a HomeFirst mortgage with Firstrust Bank, access this online link.

How do I know if I qualify for the HomeFirst mortgage?

You can find out whether you qualified for the HomeFirst 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.

Can I apply if I have an existing mortgage?

Yes, you can still apply if you have an existing mortgage and you would like to refinance.

What is the maximum loan amount?

The maximum loan amount is $647,200, as determined for 2023 by the Federal Housing Finance Agency (FHFA).

What is the minimum credit score for this program?

The minimum credit score is 620.

Is private mortgage Insurance required?

No, private mortgage insurance is not required.

Is housing counseling required?

Yes, Housing Counseling is required.

Are gifts allowed?

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.

Is secondary financing allowed?

Yes, approved forgivable community seconds are allowed with no monthly repayment terms.

What is a Home Loan Mortgage?

Most buyers afford their home with the help of a mortgage, which is a home loan that you pay back over a number of years. Your mortgage payment typically includes principal, interest, taxes, and insurance.

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How Do Interest Rates Impact My Mortgage?

Even a small difference in the interest rate could mean you pay thousands (even tens of thousands!) more or less in interest over the life of the loan. Use our calculator to see how half a percent could affect what you owe on a 30-year, fixed-rate mortgage.

What is Debt-to-Income Ratio?

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.

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Mortgage Calculators


Calculate your monthly payment, including principal, interest, insurance and taxes


Compare the cost of buying and renting over the coming years


Figure out how much you can reduce payments if you refinance your mortgage


Contact a Mortgage Specialist

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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)