Mortgage Process | Refinance, Purchase, New Construction

Mortgage Financing Guidance

Most conventional loans require a minimum credit score of 620,

If your score is lower than 620, you still have options.

There are a number of options for home loans with low credit

Application Checklist

Applying for a mortgage can seem like a daunting and scary process. To help, we’ve created a checklist of things for you to compile, complete and acknowledge before applying. See the fill list by clicking learn more below.

Credit

Credit history is a recorded file of past and current credit that is utilized to compile a credit score. Read about credit, how it works, how to improve your score and more by clicking learn more below.

Closing Cost

A closing cost is a payment required to finalize a home loan and is separate from a down-payment. Read about closing cost, their purpose, how you can pay them and more by clicking learn more below.

Appraisals

An appraisal is an estimate of a property’s fair market value and is required by a lender to ensure the loan amount is not more than the property value. Read about appraisals, how they work, ownership and more by clicking learn more below.

If you don’t have enough saved, you can find the money for your down payment by setting a budget to build savings

finding a second source of income or searching for down payment assistance programs.

Closing costs vary depending on your state and lender, but it’s a good idea to budget 3% to 4% of your maximum home purchase

Steps like making payments on time and reducing debt can improve your credit score.

PrivateMortgage Insurance (PMI)

Private Mortgage Insurance or PMI is insurance that protects a lender from increased risk from borrowers putting less than 20% down on a house. Read about PMI, how it works, cost and more by clicking learn more below.

Refinance

Refinancing your mortgage is a common practice used to lower monthly payments, interest rates, lower your DTI and more. Read about refinancing, how it works, cost and more by clicking learn more below.

Glossary of Terms

See a full list of mortgage terms by clicking learn more below.

Foreclosure

Foreclosure is the process of a lender seizing a property in accordance with the terms stipulated in the mortgage contract. Read about foreclosure and how to avoid it by clicking learn more below.

How the Mortgage Process Works

Get Prequalified Today

First, it's helpful to check your credit score and make sure your finances meet the requirements for buying a house.

Home Purchase Loans from Mortgage First Direct

Buying a home is one of the biggest financial decisions you’ll ever make — and choosing the right mortgage lender can make all the difference. At Mortgage First Direct, we specialize in home purchase loans designed to help buyers succeed in today’s competitive real estate market and into 2026. Whether you’re a first-time buyer or a repeat homeowner, we provide the strategy, speed, and flexibility needed to win the home you want.

A Smarter Way to Buy a Home

Find the mortgage that best fits your goals. Home buyers come to us when searching for best mortgage lenders for home buyers - and they stay because we deliver results - from Conventional, FHA, VA to Jumbo Loans.

Our Fast Pre-Approvals Give You an Advantage

You don't need to have enough money in the bank to buy a home outright. In 2024, 74% of homebuyers financed the

Be confident in your mortgage search

Before you start searching for a house, it can help to save as much money as you can