Loan Programs

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Whether you’re buying your dream home or a vacation getaway; no matter if you’re refinancing or buying a home for the first time, we will ensure you have just the right loan.

We provide our customers with the absolute best mortgage programs, refinancing programs, home equity lines, new construction loans and more:

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First Home Mortgage has superb rates and terms available for home purchasers, including fixed and adjustable rate mortgages, construction loans, VA loans and more.

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Looking for lower payments? Find out about refinancing here.

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No credit history? Only want to put a little down? Check here about FHA loans, CDA/State Money loans, lowest payment option loans, and zero down payment loans.

Conventional Home Mortgages

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Fixed Rate Loans

These are the loans with which people are most familiar. They let you count on paying the same monthly amount over the life of the loan. The Clay Carroll Team can find you the lowest possible fixed interest rate, and can also explain the advantages of our loan terms – 10, 15, 20, 25, 30 and 40 years.

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Adjustable Rate Mortgages (ARMs) 

ARM loans provide an initial fixed-rate period followed by an interest rate that will adjust periodically. They allow you to lock in a good rate, but are flexible in case rates go down, giving you the advantages of refinancing without the costs or paperwork. Your Loan Officer can discuss First Home ARM loans with you, including many short-term variable rate mortgages that adjust periodically based on current market conditions. 

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Interest Only Loans

Many of our fixed rate and ARM programs allow for the payment of interest only for a specific time period, while still giving you the option of paying down the loan at any time without penalty. You should meet with the Clay Carroll Team to review the details.

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Vacation Home Loans

Financing that perfect getaway? Whether it’s your second home or an investment rental, we have a number of loans to choose from, to make your vacation home possible.

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Investment/Rental Property Loans

This area requires special expertise from your mortgage company. Find out about all the options you have available for this important business investment.

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VA (Veterans Affairs) Loans

These loans offer 100% financing without private mortgage insurance to American veterans or to their surviving spouses. As a VA “Automatic Lender,” First Home Mortgage has the privilege of helping serve eligible veterans with in-house processing, underwriting and closing of all VA loans as a first or second mortgage, or as a refinance package.

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As you can see, First Home Mortgage provides a variety of loan products for every need and financial picture. The first step toward securing any loan product is contacting the Clay Carroll Team. You’ll be delighted at how easy and convenient they make the process, and you’ll definitely notice their partnership approach with you through every step.

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Refinancing or Improving Your Cash Flow

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Refinancing Your Mortgage

For many homeowners, interest rates now are lower than when they first received their original financing. By refinancing, you can lower your interest rate, thereby reducing your house payment each month. Refinancing is quick, affordable and can save you thousands in the long run.

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Should you refinance? Use our calculator to find out how much interest you can save by refinancing now.

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Interest Only Loans

Many of our fixed-rate and ARM loan programs allow for the payment on just the interest portion of the loan for a specific period of time. (You still have the option of paying the principal down without penalty.) In many cases, these types of loans give extra buying power and time for fixed rates to fall or to build more earnings from income.

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VA (Veterans Affairs) Loans

These loans offer 100% financing without private mortgage insurance to American veterans or to their surviving spouses. As a VA “Automatic Lender,” First Home Mortgage has the privilege of helping serve eligible veterans with in-house processing, underwriting and closing of all VA loans as a refinance package, or as a first or second mortgage.

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First Home Mortgage & The Clay Carroll Team is able to deliver so many types of loan programs, there’s no doubt we can help you achieve your goals.

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Purchasing Your First Home

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Beyond conventional home loans, we also offer lending programs specifically for first-time homebuyers who might not have a strong credit history, or need extra help with a down payment.

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FHA Loans

These loan programs are insured by the Federal Housing Administration (FHA) and issued by qualified lenders, such as First Home Mortgage. We offer all of the current FHA loan programs, including home financing for purchase and refinance of owner-occupied homes, as well as the popular 203(k) rehabilitation loan.

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CDA/State Bond Money

First Home Mortgage is the preferred lender for many of the State/CDA Bond money programs. We have grants and settlement loan expense programs that can be combined to create virtually no-cost loans for first time homebuyers with little or no housing payment history.

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VA (Veterans Affairs) Loans

These loans offer 100% financing without private mortgage insurance to American veterans or to their surviving spouses. As a VA “Automatic Lender,” First Home Mortgage has the privilege of helping serve eligible veterans with in-house processing, underwriting and closing of all VA loans as a first or second mortgage, or as a refinance package.

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Buying your first home should be an exciting investment - take the anxiety and confusion out of financing it by contacting us now. We’ll review your individual situation and ensure you are ready for settlement with a loan that is tailored perfectly for you.

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Disclosure:  This is not a guarantee to extend consumer credit as defined by Section 1026.2 of Regulation Z. Programs, interest rates, terms and fees are subject to change without notice. All loans are subject to credit approval and property appraisal. First Home Mortgage Corporation NMLS ID #71603 (www.nmlsconsumeraccess.org ). Clay Carroll NMLS ID 513125 Licensed in VA. Equal Housing Lender.

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NOT ACCEPTING NEW YORK APPLICATIONS. First Home Mortgage Corporation of America, First Home Mortgage Services, and First Home Mortgage Company of Maryland are d/b/a's of First Home Mortgage Corporation. First Home Mortgage Corporation is licensed in Connecticut, Delaware, District of Columbia, Florida, Georgia Residential Mortgage Licensee (Lic. #23135), Indiana, Kentucky, Maine, Maryland, Massachusetts Mortgage Lender and Broker (Lic. #MC71603), Michigan, New Hampshire, Licensed by the New Jersey Department of Banking and Insurance, North Carolina, Pennsylvania, Rhode Island Licensed Lender and Broker, South Carolina, Tennessee, Virginia, West Virginia. Equal Housing Lender. First Home Mortgage Corporation NMLS ID #71603 (www.nmlsconsumeraccess.org). Privacy Policy.

Clay Carroll

Sr. Loan Officer

1 Park West Circle, Suite 106, Midlothian, VA 23114

NMLS# 513125