Committed to your needs

Customers first

Borrowers who are happy with the mortgage loan we helped them get are more important to us than anything else. Our goal is to make the loan process as simple and worry-free as possible. We pride ourselves in offering the highest level of customer service, and appreciate the opportunity to earn your business. Whether you want to refinance for a lower mortgage rate, get a new home mortgage, home equity loan or second mortgage, our purpose is to satisfy your needs. By putting you first, we assure you a pleasurable transaction.

Get fast answers

At our website you can find tools available to answer virtually any mortgage question. Trying to decide if now is a good time to refinance? Check out our Refinance Mortgage Calculator. Wondering if a new home equity loan or second mortgage can lower your monthly payments? Use our Debt Consolidation Mortgage Calculator! Confused by all the loan programs from which to choose? Our Loan Program page will help you find the right type of loan for you. Also, we'll be happy to prepare a personalized mortgage quote for the home mortgage program of your choice.

$8,000 TAX CREDIT

$8,000 Home Buyer Tax Credit at a Glance

The tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
The tax credit does not have to be repaid.
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

This is a TAX CREDIT and not a tax deduction!! The government is giving you $8,000 dollar for dollar which means if you get a tax refund you can add $8,000 to what you will already be receiving! Call Jennifer, a mortgage planner at 509-299-7386 for more details!

FANNIE MAE DU REFI PLUS

Highlights on Refinancing with DU Refi Plus™

DU Refi Plus™ has significantly reduced the underwriting requirements for refinancing an existing Fannie Mae loan.

DU Refi Plus™ Highlights:

All property types, including condos, co-ops, PUDs and manufactured homes, are eligible for refinancing.
Primary residences and investment properties are eligible for 1- to 4-units.
Second homes are eligible for 1-unit properties only.
The maximum LTV is 105%. However, there is no maximum CLTV/HCLTV. Because new subordinate financing is not allowed, all existing second mortgages must be re-subordinated. In addition, because cash back is prohibited, all existing purchase money subordinate financing may not be paid off with the proceeds from the new mortgage.
The minimum credit score of 580 will not be required if the loan-to-value (LTV) is 80% or less.
The minimum credit score of 680 will not be required if an adjustable-rate mortgage (ARM) has an LTV of 80% or less.
Properties previously limited to 75% LTV/CLTV/HCLTV will now be eligible up to 80% LTV/CLTV/HCLTV (properties include 2-unit primary residences with high-balance loans, any 3- to 4- unit primary residences, investment properties and second home co-ops).
Only one current pay stub and a verbal verification of employment (VOE) will be required for salaried employees.
Only one year of federal income tax returns is required for commissioned or self-employed borrowers.
Appraisals may be waived or exterior-only inspections may be required on certain loans.

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1st Rate Home Mortgage, Inc. - 2234 S. McClintock Dr. - Tempe, AZ 85282
Office Phone: 509-299-7386 Fax: 800-986-5075 Cell Phone: 509-475-1210

MB License # MB-0909554

LO License # 510-LO-37868