Site Map
 
CEO Talks with Ken Harney
 
 
Apply Now
Loan Programs
First home Guide
Reverse Mortgage
Calculators
Contact
E-mail Us
Visit LO Sites
Branches


 
Consultants Visit Loan Consultants
Direct web Sites
Branches Find the nearest office.
Get local address/phone
Apply Now Apply on-line anytime
Get local address/phone
Loan Tools Compare Mortgage Terms.
Analyze loan scenarios.
First Home Click here before you buy.
"Fannie Mae" guide.


 
 
 
 
 
 
 
       Mortgage Types    Financial NewsFirst Home Guide     About Us
Family Choice Mortgage Corporation  is a retail mortgage lender, serving REALTORS®, Builders and homebuyers in distinct market areas within Massachusetts, Connecticut, New Hampshire, Rhode Island and Florida. Experience World-Class Customer Care with our "Certified" Mortgage Bankers.  We feature first and second mortgage programs in the best interests of Realtors, Builders and homebuyers with a combination of product, pricing, processes and professionalism adding up to a world of difference to the customer base. 

Click Below To E-mail Consultants

Click Below To Visit Consultants
We invite you to visit
our currently selected
feature home shown below.
 
Dream Home
Sweeping panoramas are combined with the ultimate in privacy. First time offering in  Sagamore Beach, nestled in the woods, with multiple outdoor spaces, offers views of Provincetown and the Sandy Neck dunes. .
 
 
 
Privacy Policy   |  License Information  |  Terms and Conditions  |  Employee Intranet Login  |  Employee Mail

 

This web site may contain links to other web sites operated by third party companies or individuals. Family Choice Mortgage Corporation provides links to these sites as a service to our visitors and customers. The linked sites are not under the control of Family Choice Mortgage Corporation or affiliates and Family Choice Mortgage Corporation is not responsible for the content available on these third party sites. These links do not imply any endorsement or approval of material on any other site. Family Choice Mortgage Corporation is not responsible for damages
of any kind arising out of the use of such linked sites.
All Content Copyright 2003-2007 Family Choice Mortgage Corporation
Thinking first home? Get this free "Buyer's" guide from Fannie Mae.
Our reputation is based on our trademark "It's Like having a Mortgage Banker in the family"™
 When you need someone you can trust to find you the best home loan at the lowest rate--quickly and simply. Remember to talk to a friend of the family! Family Choice Mortgage Corporation is the
next best thing to having a mortgage banker in the family.

Mortgages In Your Best Interest™  &  It's Like Having A Mortgage Banker In The Family™
are registered trademarks of Family Choice Mortgage Corporation


 		  

 		  
   

 
 
FHA 203k Streamline...
Another of the resurgent HUD-Backed programs that seems increasingly useful in this market environment is the 203k Streamline Rehab loan which allows the purchaser of a distressed property to include the rehab costs in the mortgage as long as the total rehab amount does not exceed $35,000. The normal County limits for the mortgage amount still apply.

There are other limitations, as well:
The home must be a primary residence, there are certain improvements not allowed (i.e. landscaping), The contractor must be in good credit standing, and the home buyer is usually prevented from becoming their own general contractor.

The same lower down payment requirements remain for this program, with the borrower being required to contribute 3% of the acquisition cost, via saved funds or family gift.

The program calls for an additional 10% of the rehab cost (up to $3,500.) to be added to the borrowed funds in case the project incurs a cost over-run. If not used the funds are subtracted from the final loan amount.

While larger rehab projects are available under the original 203k, this is a more widely available program for the first home buyer with fewer strings and red tape attached.

Family Choice Mortgage Corp is a participant in the 203k lending program . Inquire with any Branch Lending Consultant for more information.
 

To view the current HUD limits for all 1-4 unit properties, click below.

 HUD Limits

Kenneth Harney, "Washington Post"  nationally syndicated columnist talks with Family Choice Mortgage CEO...
Click Here To Read

 
Reverse Mortgage:
What You need To Know

First, the basics...

A Reverse Mortgage is a safe and easy way for seniors to turn the equity in their home into a source of income for any financial need.

It is available to senior homeowners who are at least 62 years of age.

Unlike traditional mortgage loans, it does not require repayment of any kind until the home is sold or the borrower no longer occupies the home as primary residence.