Loan Programs

---

This is the most common type of mortgage loan out there. The rules and guidelines for these types of loans are dictated by Fannie Mae and Freddie Mac and are ever changing. They come with both fixed and adjustable rate options and are currently available up to a max loan amount of $726,200 in most states.

 First United Mortgage Group offers Jumbo Loans for primary residences and second homes for loan amounts up to $3,000,000* and Super Jumbo Loans for primary residencies ranging for loan amounts of up to $7,000,000*.

• Low-interest rates with attractive terms:  We’re a community bank, so we can independently keep jumbo loan rates low.
• Faster loan approval:  Since our loans are all approved in-house, we’re able to provide quick, efficient service so you won’t have to wait. All decisions are made in-house.
• Exceptional service from people you know:  Our Mortgage Loan Consultants are all members of your community. At First United, your loan experience will always be fast, local, and personal.
• Fixed and adjustable rates are available:  We offer a variety of mortgage terms, available to
  fit your needs. 
• Asset depletion and restricted stock can be used as qualifying income sources.
• Allows the use of business funds for closing.

*Applies to primary purchase with a credit score of 720 or above.  Additional program requirements may apply.

First United Mortgage Group makes loans the same way the best contractors build homes:  with a solid foundation, an efficient timeline, dependable communication, and hard work —finished out with classic design.

Our One & Two Time Close Construction to Permanent Loan Programs are designed to provide buyers with financing to build, remodel or improve a primary residence. We offer flexibility to meet your needs,
whether the project is new construction or simple improvement.

One-Time Close Borrower Benefits:

• Interest rate locked at initial closing and rate remains the same after loan is converted to the permanent loan
• Offers a modification option to qualified Borrowers, upon completion
• One set of closing costs
• Involves the Borrowers in the draw process
• Affords Borrowers confidence knowing their permanent financing is secure

Two-Time Close Borrower Benefits:

• Great for customers who live in more rural areas
• Perfect to use a specialty program as a permanent loan 
• Allows for more flexibility in qualifying if there is an existing home to sell

At First United, we take great pride in being a community bank and supporting the people

who help make the lives we all live possible. In doing so, we have partnered with the Medical

Community to assist Doctors and Dentists with their mortgage financing.

Physician-specific enhancements include the following:

• Competitive pricing with no mortgage insurance required.
• FICO scores down to 700 are allowed depending on loan-to-value (LTV) and loan amount.
• Student loans are deferred for a minimum of 12 months not included to qualify.
• We offer a variety of mortgage terms, available to fit your needs.

For both new and experienced physicians:

• Medical Professionals with the following designations are eligible: MD, DO, DDS, DMD
  • Borrower or co-borrower must be a resident, fellow, practicing physician, or dentist. 
  • Proof of a medical license is required 

You served your country. Now let your country return the favor with special financing just for veterans. VA loans reward veterans for their service and sacrifice on behalf of our country in a number of ways.

What Is A VA Loan?

VA loans are a special type of home mortgage reserved for active military members and veterans. These home loans are guaranteed by the US Veterans Administration and offered by participating approved lenders.  VA loans allow eligible veterans and active military personnel to realize their home buying dreams and help existing VA homeowners with money-saving refinance options.

VA Loan Benefits

VA loans are designed to provide long-term home financing to qualified veterans and, in some cases, their surviving unmarried spouses.  In many instances, their interest rates can be better than other conventional loans.

VA loans offer a number of advantages over other types of mortgages, including: 

• No penalty fee if you pay the loan off early.
• No private mortgage insurance requirements.
• Credit score requirements are more lenient as compared to conventional loans.
• VA may be able to provide some assistance if mortgage payment problems arise.

Let us help you achieve your dreams with a Federal Housing Administration (FHA) Loan.

Getting To Know FHA

FHA is a government entity that offers mortgage insurance on loans made by FHA-approved lenders. The FHA provides insurance on mortgages for many different types of homes including single-family and multifamily homes. The FHA is completely funded by its own self-generated income, meaning there is no cost to taxpayers for its operation and services.

What Are FHA Loans?

FHA loans are insured by the Federal Housing Administration. These loans are designed to help first-time homebuyers and experienced homeowners alike by providing them with a low down payment option.  FHA mortgage insurance serves as protection for lenders in the event of a homeowner defaulting on their home loan.