Mortgage Loans

1st and 2nd Mortgage Loans
Frequently Asked Questions

  • Conventional Loan 30 years fixed 4.375%
  • FHA Loan 30 years fixed 3.875%
  • Conventional – The minimum credit score is 740
  •  FHA – The minimum credit score is 640
  • Currently there is no application or origination fees for the 1st mortgage at this time.

  • The average length of time to close on a 1st mortgage is 45 days.
  • Conventional Loan 5% of sales price FHA Loan 3.5% of sales price
  • Closing Cost are fees charged by Lenders, example; attorney fees, appraisal fees. Most of the time, the Homebuyers pay the Closing Cost.
  • You can apply online or download a paper application at www.1stchoicecu.org. You will receive a response within three business days.

FYI:
You will be redirected to one of our mortgage originating partners’ websites below:

  • Credit Union Financial Serivces (CUFS)
    1123 Elm Street, NE
    Covington, GA 30014
    678-658-4466
    800-503-6855
    www.cufs.org
  • A Homebuyers Workshop provides general information about the home buying process, down payment assistance programs, closing cost, home inspections, credit readiness and financial options.
  • 1st Choice Credit Union has partnership with agencies in the community who provides funding for eligible borrowers.

    Contact one of our homeownership counselors at 404.832.5800 for details.

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