Optimum First Mortgage overview
Optimum First Mortgage is a highly-rated mortgage lender, doing business in 14 states, that has originated more than 20,000 loans. The lender boasts a "Lifetime Rate Protection Guarantee," which allows borrowers to refinance eligible existing loans with the lender, with zero closing costs, if interest rates become lower over the course of their loan term. According to the lender, the majority of its mortgages are funded within 20 days.
Established in 2008, Optimum First Mortgage is headquartered in Fountain Valley, California. It has two other branch offices in Maricopa, Arizona, and San Antonio, Texas.
- Adjustable-rate (ARM)
- HARP 2.0
- Biweekly mortgages
- Reverse mortgages
- Stated-income mortgages
- Hard money
Optimum First Mortgage does not charge lender fees, such as an origination fee or application fee, on most loans.
Minimum borrower requirements
Optimum First Mortgage adheres to the conforming loan requirements for mortgages approved by government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, as well as those backed by the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA).
For conventional loans, key requirements include good credit (typically a FICO score of 620 or higher). Depending on the loan, a minimum down payment of 3 percent is required.
Government requirements for FHA and VA loans are detailed here:
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