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title

Security Warning: Unauthorized access or attempts to upload and/or change information on this website are strictly prohibited and subject to prosecution. It is our policy at First Choice Financial FCU to never request account and other confidential information via email. If you suspect an email message, or website to be of fraudulent activity, to be claiming to be affiliated with FCFFCU, and asking for confidential information, please contact us immediately at 518-725-3191.
NMLS# 800563 Routing Number 221376186
Loan Team
title

Get Pre-Qualified for the Home of Your Dreams.  Apply Here

Call our Mortgage Center for Current Rates at
518-725-3191 ext.280

NMLS#800563
title

Here at First Choice Financial FCU, our members are more than just an account number. Our focus is on delivering you products that fit your needs. Whether you're purchasing your first home or refinancing an existing mortgage, trust your credit union:
  • Free pre-qualifications.
  • Easy application process, apply online here or in person with our team of experts.
  • Affordable closing costs.
  • Compare multiple home loan options including FHA, Conventional, USDA and VA.



FREE MORTGAGE PRE-QUALIFICATION

A mortgage pre-qualification tells you how much of a monthly mortgage payment you can afford. It is based on verbal information received from you and is not a binding commitment. A mortgage pre-qualification puts you one step ahead of other home buyers, because you know how much home you can afford to buy! It should be the first step to your home buying process. This pre-qualification is free and can be done over the telephone or online!


WHICH MORTGAGE IS RIGHT FOR YOU?

See below to compare our Fixed Rate, Adjustable Rate, FHA, VA and USDA mortgage options.
title
FIXED-RATE MORTGAGE

A fixed-rate mortgage can offer more certainty because it retains the same interest rate for the life of the loan. That means that your monthly mortgage payment will stay constant for the life of the loan.
  • For those who prefer regular payments with no surprises, with limited or fixed income, who plan to stay in the home a long time. Or, for those who are buying when rates are low.
  • Up to 30-year terms available.
  • Purchase and refinance existing mortgages with a fixed rate.
  • Can also be used for a second home, investment properties, one to four-family homes etc.

Adjustable Rate Mortgages (ARM)

An Adjustable-Rate Mortgage can offer more flexibility because the interest rate will fluctuate over the life of the loan depending on market rate.
  • Starting rate is typically lower than fixed-rate mortgages.
  • Extended rate locks.
title

Conventional
Mortgages

Conventional mortgages are not government-backed, like a USDA or FHA loan. However, in order for a home loan to qualify as a conventional mortgage, it must comply with lending rules set by Fannie Mae and Freddie Mac. These rules require:
  • A minimum credit score of about 640 to qualify, depending on the loan amount, debt-to-income ratio, and other factors
  • A debt-to-income ratio under 43%—may be lower for borrowers with lower credit scores
  • No major credit report issues, like bankruptcy or foreclosure
  • A down payment of 5% or more (20% if you don’t want to buy mortgage insurance)
  • The loan limit for conventional mortgages varies by location.
    title

    Federal Housing Administration (FHA)

    Are you a first-time homebuyer? Is the prospect of having to save up for a large down payment preventing you from buying the home of your dreams? A FHA Mortgage might be what you are looking for!
    • Down payments as low as 3.5% of purchase price
    • One- to four- unit homes eligible
    • Loan programs for first time home buyers, fixer-upper homes, etc.
    title

    Veterans Adminstration
    (VA)
    • For eligible veterans, service members, and surviving spouses
    • No down payment (under certain conditions)
    • Private mortgage insurance not required.
    • Ceiling on closing costs.
    title

    U.S. Department of Agriculture
    (USDA)
    • For low- to moderate- income rural home buyers.
    • No down payment required
    • Check property eligibility here
    Loan Team
    title

    Get Pre-Qualified for the Home of Your Dreams.  Apply Here

    Call our Mortgage Center for Current Rates at
    518-725-3191 ext.280

    NMLS#800563
    title

    Here at First Choice Financial FCU, our members are more than just an account number. Our focus is on delivering you products that fit your needs. Whether you're purchasing your first home or refinancing an existing mortgage, trust your credit union:
    • Free pre-qualifications.
    • Easy application process, apply online here or in person with our team of experts.
    • Affordable closing costs.
    • Compare multiple home loan options including FHA, Conventional, USDA and VA.



    FREE MORTGAGE PRE-QUALIFICATION

    A mortgage pre-qualification tells you how much of a monthly mortgage payment you can afford. It is based on verbal information received from you and is not a binding commitment. A mortgage pre-qualification puts you one step ahead of other home buyers, because you know how much home you can afford to buy! It should be the first step to your home buying process. This pre-qualification is free and can be done over the telephone or online!


    WHICH MORTGAGE IS RIGHT FOR YOU?

    See below to compare our Fixed Rate, Adjustable Rate, FHA, VA and USDA mortgage options.
    title
    FIXED-RATE MORTGAGE

    A fixed-rate mortgage can offer more certainty because it retains the same interest rate for the life of the loan. That means that your monthly mortgage payment will stay constant for the life of the loan.
    • For those who prefer regular payments with no surprises, with limited or fixed income, who plan to stay in the home a long time. Or, for those who are buying when rates are low.
    • Up to 30-year terms available.
    • Purchase and refinance existing mortgages with a fixed rate.
    • Can also be used for a second home, investment properties, one to four-family homes etc.

    Adjustable Rate Mortgages (ARM)

    An Adjustable-Rate Mortgage can offer more flexibility because the interest rate will fluctuate over the life of the loan depending on market rate.
    • Starting rate is typically lower than fixed-rate mortgages.
    • Extended rate locks.
    title

    Conventional
    Mortgages

    Conventional mortgages are not government-backed, like a USDA or FHA loan. However, in order for a home loan to qualify as a conventional mortgage, it must comply with lending rules set by Fannie Mae and Freddie Mac. These rules require:
    • A minimum credit score of about 640 to qualify, depending on the loan amount, debt-to-income ratio, and other factors
    • A debt-to-income ratio under 43%—may be lower for borrowers with lower credit scores
    • No major credit report issues, like bankruptcy or foreclosure
    • A down payment of 5% or more (20% if you don’t want to buy mortgage insurance)
    • The loan limit for conventional mortgages varies by location.
      title

      Federal Housing Administration (FHA)

      Are you a first-time homebuyer? Is the prospect of having to save up for a large down payment preventing you from buying the home of your dreams? A FHA Mortgage might be what you are looking for!
      • Down payments as low as 3.5% of purchase price
      • One- to four- unit homes eligible
      • Loan programs for first time home buyers, fixer-upper homes, etc.
      title

      Veterans Adminstration
      (VA)
      • For eligible veterans, service members, and surviving spouses
      • No down payment (under certain conditions)
      • Private mortgage insurance not required.
      • Ceiling on closing costs.
      title

      U.S. Department of Agriculture
      (USDA)
      • For low- to moderate- income rural home buyers.
      • No down payment required
      • Check property eligibility here
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