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About Us:

Established in 1975, First Mortgage Corporation has been underwriting, funding, securitizing and servicing FHA & VA loans for nearly forty years. Our core mission is to help worthy families at all levels achieve the dream of home ownership.

Our Partnership with Correspondents

Our Correspondents find a home for their most challenging FHA and VA loans due to FMC’s minimal overlays to FHA and VA guidelines.  FMC buys DU-approved as well as manually-underwritten FHA & VA loans. Borrowers with non-traditional credit are accepted as well.  Our niches are indicated below:

  • FHA 
    • 580 minimum credit score with 3.5%* down payment
    • 500 minimum credit score with 10%** down payment
    • Alternative credit for buyers with no credit score
    • Back-to-work program
    • Manual underwrites

  • Down Payment Assistance
    • NHF Access 99.5%*** CLTV with 580 minimum credit score (CA)
    • NHF FirstDown 99.5%*** CLTV with 580 minimum credit score (AZ, NM, NV, TX & UT)
    • CHF Platinum Grant - 3% & 5%

  • VA 
    • Any credit score allowed with DU Approve/Eligible
    • Alternative credit for buyers with no credit score
    • Manual underwrites

  • Manufactured homes
    • Purchase transaction and rate/term limited to the following:
      • 96.5% LTV/CLTV with 660 or greater credit score
      • 95% LTV/CLTV with 659 or less credit score
  • FHA Approved Property Flips - < 90 days with > 100% appreciation
  • Income Documentation
    • No 4506T required (per 4155) - W2 validation only for most borrowers


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