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If you are ready to start the buying process or need assistance with a pre-qualification call us today at 787-760-8100
If you need help with guidance, buying your first home or refinancing, leave us your information here.
Take the first steps towards your dream home.
-
Buy my first home
-
Refinance my home
-
Apply for a mortgage loan
-
Manage my mortgage
-
Mortgage support
Buying your first home is an important milestone.
Here we tell you all the information you need in order to make the right decision.
Is it the right time to buy a house?
Before making the decision, you should consider if it is the right time to buy a house. Know your purchasing and loan payment capacity with the following steps:
-
Check your credit score and history
-
Determine the area where you want to live
-
Make a list of preferences and organize them by priority
-
Know your budget
-
Arrange an initial interview with your Mortgage Consultant and get an orientation on the different financing alternatives
What savings do you have?
Evaluate your savings and determine if they are sufficient to buy the property you want. Typically you should have 10% to 15% of the sales price saved to cover closing costs and/or option if required.
What is your monthly income?
Some examples of income that you can use for qualification are base salary, overtime, pensions, among others. Such income should be stable for a minimum of two years and should have a good chance of continuing to be received.
How important is it for me to have my own home?
While the view, decoration, location, and not feeling tied-down may be important for some people, others feel it is much more important to have a home of their own. Determine what is important for you, and if it is having your own home, we are here!
Benefits of paying a mortgage vs. renting
-
When you rent, you pay your landlord's mortgage. As a homeowner, you pay your own mortgage and invest your money in your future capital asset
-
With good interest and financing offers, your mortgage payment may be less than your rental payment
-
You can fix up the house to your liking and make the improvements or additions you want
-
Benefit from federal, state and municipal government incentive programs to subsidize the financing of your primary residence
-
When you buy a property, you are creating home equity
-
It is an investment in your and your family's future
-
The interest you pay on the mortgage can be deducted from your tax return
-
You avoid uncertainties related to contract duration, monthly payment increase, or contract renewal
Refinance my home.
When you refinance your mortgage, a new loan replaces your current one.
Things to keep in mind when refinancing.
It is important to know the approximate value of your property and the current debt of your home in order to evaluate any alternatives that meet your needs.
What are some things the bank takes into consideration during the process?
As part of the process, clients should know that income, credit history, the accumulated capital of the property, the difference between the current mortgage’s interest rate and the new interest rate, and the cost of refinancing.
That’s why it is important to select the best product for your specific needs.
-
Making improvements
-
Consolidating debt – improve your financial stability
-
Reducing the term
-
Increasing the term in order to lower your payment
-
Reducing the interest rate
Each case is unique. That is why we recommend you request an orientation. Together we can analyze choose the best option for your specific needs.
Subject to credit approval. Certain restrictions apply. FirstMortgage is a division of FirstBank Puerto Rico.
Apply for a mortgage loan.
Ready to apply for your mortgage online?
Start now from the comfort of your home, with all the information readily available and without having to go to the bank!
All you need is a computer, tablet, or mobile phone with an internet connection.
Get to know the benefits of applying for your loan online:
-
Enjoy 24/7 online access
-
Upload and review documents from your personal computer, smartphone or tablet in a secure platform, by taking and uploading a photo or scanning it
-
Choose the eConsent option for a total digital experience throughout the process
-
Electronically sign (eSign) to receive and upload disclosures and documents
-
Get real-time notifications on the status of your loan
-
Easily locate your Loan Officer’s contact information
-
Feel confident that your personal information is in a certified Secure Sockets Layer (SSL) site
-
Find your application summary
-
Review all your loan application details
-
Receive notifications from your Loan Officer regarding your application
-
Easily identify all application tasks so that you can complete them and expedite the process
-
Access a list to view all documents that have been uploaded to the system
Subject to credit approval. Certain terms and conditions apply.
Manage my mortgage.
Are you a FirstMortgage customer?
Manage your loan from the comfort of your home. All you need is to register.
Access our services to manage your FirstBank loan mortgage. Receive your digital statements by giving electronic consent.
Download the following available documents 24/7.
Accessible documents include:
-
Annual mortgage interest statement, 480.7A/ 1098
-
Letters regarding your mortgage loan
-
Monthly Statement
-
Escrow Statement
-
ARM (Interest Change Notice)
-
Request copies of documents
Payments
-
Pay and schedule your monthly payments electronically
-
Request mortgage assistance or loss mitigation program
-
Request payment slips
All about your mortgage
-
Verify payment history
-
View payments made from reserve account for insurance and contributions
-
Obtain principal balance
-
View and request amortization tables
Manage your FirstBank mortgage loan in the most convenient and easy way for you.
Subject to credit approval. Certain restrictions apply. FirstMortgage is a division of FirstBank Puerto Rico.
Loss Mitigation.
At FirstBank, we recognize how important your home is, and we understand that financial hardships may arise beyond your control.
If you are facing any financial difficulties, we are ready to guide you and evaluate the loss mitigation programs for which you may be eligible.
Below are some of the programs that may be available to you if you qualify:
-
Reinstatement - Payment for the full amount of arrears, made in a lump sum, on a stipulated date
-
Forbereance- Allows you to temporarily suspend or reduce your payments for a specific time period
-
Repayment Plan- Allows you to pay past due amounts on your loan over a specific time period to bring your loan current
-
Loan modification- You may be able to change one or more of the terms of the loan, to assist you in bringing the account current and avoiding foreclosure
-
Short Sale- Allows you to sell your home for less than the remaining balance on your loan
-
Deed-in-lieu- An alternative where the borrower voluntarily surrenders title to the property. During the process, the borrower is evaluated according to the Institution established policies and may be exonerated from all or part of the financial obligation on the mortgage
If you have additional questions, you may contact us at 787-283-4100 Monday through Friday between 8:30 a.m. and 5:00 p.m. or send an email to tuhogar@firstbankpr.com. Please include your account number in all communications.
Click on the name of the document to download:
(only aplicable for properties in Puerto Rico)
Here we tell you all the information you need in order to make the right decision.
Is it the right time to buy a house?
Before making the decision, you should consider if it is the right time to buy a house. Know your purchasing and loan payment capacity with the following steps:
-
Check your credit score and history
-
Determine the area where you want to live
-
Make a list of preferences and organize them by priority
-
Know your budget
-
Arrange an initial interview with your Mortgage Consultant and get an orientation on the different financing alternatives
What savings do you have?
Evaluate your savings and determine if they are sufficient to buy the property you want. Typically you should have 10% to 15% of the sales price saved to cover closing costs and/or option if required.
What is your monthly income?
Some examples of income that you can use for qualification are base salary, overtime, pensions, among others. Such income should be stable for a minimum of two years and should have a good chance of continuing to be received.
How important is it for me to have my own home?
While the view, decoration, location, and not feeling tied-down may be important for some people, others feel it is much more important to have a home of their own. Determine what is important for you, and if it is having your own home, we are here!
Benefits of paying a mortgage vs. renting
-
When you rent, you pay your landlord's mortgage. As a homeowner, you pay your own mortgage and invest your money in your future capital asset.
-
With good interest and financing offers, your mortgage payment may be less than your rental payment.
-
You can fix up the house to your liking and make the improvements or additions you want.
-
Benefit from federal, state and municipal government incentive programs to subsidize the financing of your primary residence.
-
When you buy a property, you are creating home equity.
-
It is an investment in your and your family's future.
-
The interest you pay on the mortgage can be deducted from your tax return.
-
You avoid uncertainties related to contract duration, monthly payment increase, or contract renewal.
When you refinance your mortgage, a new loan replaces your current one.
Things to keep in mind when refinancing.
It is important to know the approximate value of your property and the current debt of your home in order to evaluate any alternatives that meet your needs.
What are some things the bank takes into consideration during the process?
As part of the process, clients should know that income, credit history, the accumulated capital of the property, the difference between the current mortgage’s interest rate and the new interest rate, and the cost of refinancing.
That’s why it is important to select the best product for your specific needs.
-
Making improvements
-
Consolidating debt – improve your financial stability
-
Reducing the term
-
Increasing the term in order to lower your payment
-
Reducing the interest rate
Each case is unique. That is why we recommend you request an orientation. Together we can analyze choose the best option for your specific needs.
Ready to apply for your mortgage online?
Start now from the comfort of your home, with all the information readily available and without having to go to the bank!
All you need is a computer, tablet, or mobile phone with an internet connection.
Get to know the benefits of applying for your loan online:
-
Enjoy 24/7 online access
-
Upload and review documents from your personal computer, smartphone or tablet in a secure platform, by taking and uploading a photo or scanning it
-
Choose the eConsent option for a total digital experience throughout the process
-
Electronically sign (eSign) to receive and upload disclosures and documents
-
Get real-time notifications on the status of your loan
-
Easily locate your Loan Officer’s contact information
-
Feel confident that your personal information is in a certified Secure Sockets Layer (SSL) site
-
Get to know the mortgage loan product alternatives that we offer so you can analyze and compare them
-
Find your application summary
-
Review all your loan application details
-
Receive notifications from your Loan Officer regarding your application
-
Easily identify all application tasks so that you can complete them and expedite the process
-
Access a list to view all documents that have been uploaded to the system
Subject to credit approval. Certain terms and conditions apply.
Are you a FirstMortgage customer?
Manage your loan from the comfort of your home. All you need is register.
Access our services to manage your FirstBank loan mortgage. Receive your digital statements just by giving electronic consent.
Download the following available documents 24/7. Accessible documents include:
-
Annual mortgage interest statement, 480.7A/ 1098
-
Letters regarding your mortgage loan
-
Monthly Statement
-
Escrow Statement
-
ARM (Interest Change Notice)
-
Request copies of documents
Payments
-
Pay and schedule your monthly payments electronically
-
Request mortgage assistance or loss mitigation program
-
Request payment slips
All about your mortgage
-
Verify payment history.
-
View payments made from reserve account for insurance and contributions.
-
Obtain principal balance.
-
View and request amortization tables.
Manage your FirstBank mortgage loan in the most convenient and easy way for you.
*Subject to credit approval. FirstMortgage is a division of FirstBank Puerto Rico.
At FirstBank, we understand the importance of owning your home and our goal is to help our customers keep their homes, if possible.
We understand that sometimes you may face difficult circumstances that affect your ability to make your mortgage payments. If you are facing a financial hardship, you may want to apply to be evaluated for one of our Home Retention Assistance programs. We will be ready to provide the necessary information about possible options designed to assist you.
Below are some of the programs that may be available to you if you qualify:
-
Reinstatement- Payment for the full amount of arrears, made in a lump sum, on a stipulated date.
-
Forbereance- Allows you to temporarily suspend or reduce your payments for a specific time period.
-
Repayment Plan- Allows you to pay past due amounts on your loan over a specific time period to bring your loan current.
-
Loan modification- You may be able to change one or more of the terms of the loan, to assist you in bringing the account current and avoiding foreclosure.
-
Short Sale- Allows you to sell your home for less than the remaining balance on your loan.
-
Deed-in-lieu- An alternative where the borrower voluntarily surrenders title to the property. During the process, the borrower is evaluated according to the Institution established policies and may be exonerated from all or part of the financial obligation on the mortgage.
If you have additional questions, you may contact us at 787-283-4100 Monday through Friday between 8:30 a.m. and 5:00 p.m. or send an email to tuhogar@firstbankpr.com. Please include your account number in all communications.
Click on the name of the document to download:
CALCULATOR
Find the payment that best fits your needs with our mortgage calculator.
Estimate monthly payment
$
*The results provided by this calculator are only for illustrative purposes. They are based on the information provided and do not constitute a pre-qualification. The estimated monthly payment is for principal and interest only and does not include other monthly payments such as property insurance, mortgage insurance, flood insurance or property taxes.
Start your mortgage process today
INTEREST RATES
Weekly offers for FHA and Conventional Loans
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FHA 30 years¹
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Conventional 15 years
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Conventional 30 years²
| Interest Rate |
APR
|
Amount
|
Monthly Payment
|
|---|---|---|---|
| 4.75% | 5.86% |
$150,000 |
$783 |
| Interest Rate |
APR
|
Amount
|
Monthly Payment
|
|---|---|---|---|
| 5.125% | 5.69% |
$150,000 |
$1,196 |
| Interest Rate |
APR
|
Amount
|
Monthly Payment
|
|---|---|---|---|
| 5.875% | 6.28% |
$150,000 |
$888 |
The monthly payment disclosed is for principal and interest only and does not include other monthly payments such as property insurance, mortgage insurance, flood insurance or property taxes. All offers, types, terms and conditions of the mortgage loans are subject to credit approval. For loan applications originating from March 10, 2025 through March 15, 2025. After this date, the interest rate may change according to market conditions until the loan application is approved. See more.
MORTGAGE LOANS
This is the ideal loan for buying or refinancing because you can finance up to $510,400 for a residential unit, with a competitive interest rate. The conforming loan requires a 20% down payment for primary residence, without mortgage insurance. With mortgage insurance, it may require only 5%.
Unlike a conforming loan, a non-conforming conventional loan remains in the bank’s portfolio and must comply with its credit policy. The “Loan to Value” margin granted is of 85% for main residences with a maximum of up to $500,000. In cases that meet certain compensating factors, it could be up to 90% of the lesser between the appraised value or sales price. In certain cases in compliance with compensatory factors, the loan margin could reach 90% of the lowest amount between the appraisal value and the sales price. The loan margin is determined by the amount to be financed. With this loan, you will be able to acquire properties with financing up to $2,000,000.
This type of loan is ideal for first-time homebuyers because it allows you to finance up to 96.5% of the sales price or value of the property, whichever is less, up to the maximum loan amount per municipality allowed by the Federal Housing Administration (FHA).
This federal guarantee offers you several advantages and protections during the term of the loan, among them: the option to finance most of the loan, minimizing down payment, interest, and closing costs. In addition, FHA offers you many options to help you retain your property and avoid foreclosure.
Reduce your annual interest and monthly mortgage payment with a Streamline FHA loan. This loan is designed for people who have an FHA loan and want to reduce the term of their mortgage, reduce the interest rate, or lower their current monthly payment amount. With this type of loan, no income verification or appraisal fees are required, and little documentation is requested, saving you time and money. This product is ideal for refinancing.*
* Note: The Streamline FHA program does not allow you to finance the closing expenses. However, we offer the Streamline FHA Lender Paid alternative where you have the option of choosing an interest rate offer and obtaining credit for closing expenses. This way, your contribution can be minimal or even none at all.
How do I qualify?
The mortgage to be refinanced must already be FHA insured.
-
The refinance results in a net tangible benefit to the borrower. The definition of net tangible benefit varies based on the type of loan being refinanced, and the interest rate and/or term of the new loan
-
The Borrower must have made all Mortgage Payments for all Mortgages on the subject Property within the month due for the six months prior to case number assignment and have no more than one 30-Day late payment for the previous six months for all Mortgages on the subject Property. The mortgage to be refinanced must be current (not delinquent).
-
at least six full months must have passed since the first payment due date of the Mortgage that is being refinanced.
-
at least 210 Days must have passed from the Closing Date of the Mortgage that is being refinanced
The property must be your main residence.
-
For loans closed after May 31, 2009, the customer can only qualify for a Streamline FHA under the current annual and monthly insurance at the moment of the loan’s origination.
-
The refinance must result in a benefit and reduction of at least 5% of your current monthly payment
If you are a veteran of the armed forces, widow of a veteran, or an eligible member of the National Guard or the Reserve, this loan is for you. You can finance up to 100% of the property value or the sales price, whichever is lowest (applies to the home purchase). This loan is issued via the Department of Veteran’s Affairs (VA) and can be used for buying or refinancing your primary residence.
If you have a VA loan and you would like to reduce your monthly mortgage payments, the Veterans Affairs (VA) Interest Rate Reduction Refinance Loan (IRRRL) is ideal for you. This loan does not require an appraisal and you do not have to provide income payment stubs, tax reports, or W2 forms to qualify, which will make the process easy for you.
Other notes:
-
The Certificate of Eligibility (COE) is not required. If you do have your Certificate of Eligibility, show it to the bank’s mortgage consultant to demonstrate that you previously used your acquired right.
-
The product from the IRRRL cannot be used to pay any other loans apart from the currently existing VA loan. If you have a second mortgage, the mortgage holder must agree to subordinate the lien so that your new VA loan is a first mortgage.
-
The occupancy requirement for an IRRRL loan is different from other VA loans. You only need to certify that you previously occupied the home.
Did you find the home of your dreams, but it needs repairs? With the Streamline 203k you can obtain financing to buy your own home and get funds to rehabilitate or improve the property all in one financing. With this loan, you can make sure your new home is ready for you to move in, whether you use the funds to remodel the kitchen, paint the interior or exterior, or buy new appliances.
-
Conventional Conforming Loan
-
Non-Conforming Conventional Loan
-
FHA Loan
-
Streamline FHA Loan
-
Veteran Loan
-
Streamline VA Loan or Interest Rate Reduction Refinancing Loan (IRRRL)
-
Streamline 203K Loan
-
Rural Loan
Conventional Conforming Loan
This is the ideal loan for buying or refinancing because you can finance up to $806,500 for a residential unit, with a competitive interest rate. The conforming loan requires a 20% down payment for primary residence, without mortgage insurance. With mortgage insurance, it may require only 5%.
Non-Conforming Conventional Loan
Unlike a conforming loan, a non-conforming conventional loan remains in the bank’s portfolio and must comply with its credit policy. The “Loan to Value” margin granted is of 85% for main residences with a maximum of up to $500,000. In cases that meet certain compensating factors, it could be up to 90% of the lesser between the appraised value or sales price. In certain cases in compliance with compensatory factors, the loan margin could reach 90% of the lowest amount between the appraisal value and the sales price. The loan margin is determined by the amount to be financed. With this loan, you will be able to acquire properties with financing up to $2,000,000.
FHA Loan
This type of loan is ideal for first-time homebuyers because it allows you to finance up to 96.5% of the sales price or value of the property, whichever is less, up to the maximum loan amount per municipality allowed by the Federal Housing Administration (FHA).
This federal guarantee offers you several advantages and protections during the term of the loan, among them: the option to finance most of the loan, minimizing down payment, interest, and closing costs. In addition, FHA offers you many options to help you retain your property and avoid foreclosure.
Streamline FHA Loan
Reduce your annual interest and monthly mortgage payment with a Streamline FHA loan. This loan is designed for people who have an FHA loan and want to reduce the term of their mortgage, reduce the interest rate, or lower their current monthly payment amount. With this type of loan, no income verification or appraisal fees are required, and little documentation is requested, saving you time and money. This product is ideal for refinancing.*
* Note: The Streamline FHA program does not allow you to finance the closing expenses. However, we offer the Streamline FHA Lender Paid alternative where you have the option of choosing an interest rate offer and obtaining credit for closing expenses. This way, your contribution can be minimal or even none at all.
How do I qualify?
The mortgage to be refinanced must already be FHA insured.
-
The refinance results in a net tangible benefit to the borrower. The definition of net tangible benefit varies based on the type of loan being refinanced, and the interest rate and/or term of the new loan
-
The Borrower must have made all Mortgage Payments for all Mortgages on the subject Property within the month due for the six months prior to case number assignment and have no more than one 30-Day late payment for the previous six months for all Mortgages on the subject Property. The mortgage to be refinanced must be current (not delinquent).
-
at least six full months must have passed since the first payment due date of the Mortgage that is being refinanced.
-
at least 210 Days must have passed from the Closing Date of the Mortgage that is being refinanced
The property must be your main residence.
-
For loans closed after May 31, 2009, the customer can only qualify for a Streamline FHA under the current annual and monthly insurance at the moment of the loan’s origination
-
The refinance must result in a benefit and reduction of at least 5% of your current monthly payment
Veteran Loan
If you are a veteran of the armed forces, widow of a veteran, or an eligible member of the National Guard or the Reserve, this loan is for you. You can finance up to 100% of the property value or the sales price, whichever is lowest (applies to the home purchase). This loan is issued via the Department of Veteran’s Affairs (VA) and can be used for buying or refinancing your primary residence.
Streamline VA Loan or Interest Rate Reduction Refinancing Loan (IRRRL)
If you have a VA loan and you would like to reduce your monthly mortgage payments, the Veterans Affairs (VA) Interest Rate Reduction Refinance Loan (IRRRL) is ideal for you. This loan does not require an appraisal and you do not have to provide income payment stubs, tax reports, or W2 forms to qualify, which will make the process easy for you.
Other notes:
-
The Certificate of Eligibility (COE) is not required. If you do have your Certificate of Eligibility, show it to the bank’s mortgage consultant to demonstrate that you previously used your acquired right
-
The product from the IRRRL cannot be used to pay any other loans apart from the currently existing VA loan. If you have a second mortgage, the mortgage holder must agree to subordinate the lien so that your new VA loan is a first mortgage
-
The occupancy requirement for an IRRRL loan is different from other VA loans. You only need to certify that you previously occupied the home
Streamline 203K Loan
Did you find the home of your dreams, but it needs repairs? With the Streamline 203k you can obtain financing to buy your own home and get funds to rehabilitate or improve the property all in one financing. With this loan, you can make sure your new home is ready for you to move in, whether you use the funds to remodel the kitchen, paint the interior or exterior, or buy new appliances.
Rural Loan
This loan is part of a mortgage guarantee program administered by the U.S. Department of Agriculture and is aimed at moderate-income families to assist them in the purchase of their primary residence in rural areas. With this loan you can finance up to 100% of the value of the property if it is your primary residence.
HOW TO APPLY
Ready to buy or refinance your home?
Applying is easy with Mortgage Online. Start your mortgage application from anywhere.
Create your account and make sure you have the following required documents:
-
Property information
-
Personal information
Identify pending tasks in your application.
Upload and review documents from your computer, mobile phone or tablet.
Receive real-time notifications about the status of your loan application.
You can also contact your Loan Officer.
Looking for a property?
Check out our list of residential, commercial properties as well as land here.
FREQUENTLY ASKED QUESTIONS
Your ability to repay depends on your debt and income (DTI). DTI refers to the percentage of your gross income that goes toward debt repayment. For example, let's say your gross monthly household income is $5,200 and your monthly debt payment is $1,200, the DTI would be calculated by dividing your monthly debt by the amount of your gross monthly income: $1,200 / $5,200 = 0.23.
This means that your DTI is 23%. As a general rule, it is recommended that the percentage be 43% or less. However, according to your profile you may qualify for other products that allow a DTI higher than 43%.
To evaluate a mortgage loan, the debt included in your credit report is taken into consideration, including revolving accounts, personal loans, auto loans, student loans (if applicable), as well as debt outside the credit report, such as rent and maintenance payments, taxes (for other properties), and child support.
If you have permanent employment, you can document the last 24 months as of the application filing date, you studied and/or worked in the same line of work and the income is not self-employment, you can qualify for the purchase or refinancing of your home.
MORTGAGE CENTERS
Central Office, Río Piedras
Muñoz Rivera Avenue #1130
San Juan - Río Piedras, PR 00927
Telephone
Business Hours
Monday through Friday, from 9:00 a.m. to 6:00 p.m.
Saturdays, from 9:00 a.m. to 1:00 p.m.
Arecibo Mortgage Center
1348 Avenida Miramar
Barrio Hato Abajo
Arecibo, PR 00612
Telephone
Business Hours
Monday through Friday, from 9:00 a.m. to 6:00 p.m.
Saturday, from 9:00 a.m. to 1:00 p.m.
Bayamón Mortgage Center
Centro Comercial de Santa Rosa
Carretera #2 Local #77 y #78
Bayamón, PR 00966
Telephone
Business Hours
Monday through Friday, from 9:00am to 6:00pm
Saturday, from 9:00 a.m. to 1:00 p.m.
Centro Comercial Las Catalinas
E-6 Avenida Zafiro
Caguas, PR 00725
Telephone
Business Hours
Monday through Friday, from 9:00 a.m. to 6:00 p.m.
Saturdays, from 9:00 a.m. to 1:00 p.m.
Ponce Mortgage Center
Plaza San Cristobal
Coto Laurel, Carretera #506
Ponce, PR 00780
Telephone
Business Hours
Monday through Friday, from 9:00 a.m. to 6:00 p.m.
Saturdays, from 9:00 a.m. to 1:00 p.m.
Mortgage Center for New Projects and Realty
Plazoleta Condado #270
Ave Roberto H Todd, Esq Calle Aldea
San Juan – Condado PR 00907
Telephone
Business Hours
Monday through Friday, from 9:00 a.m. to 6:00 p.m.
Saturdays, from 9:00 a.m. to 1:00 p.m.
The monthly payment disclosed is for principal and interest only and does not include other monthly payments such as property insurance, mortgage insurance, flood insurance or property taxes. All offers, types, terms and conditions of the mortgage loans are subject to credit approval. For loan applications originating from March 10, 2025 through March 15, 2025. After this date, the interest rate may change according to market conditions until the loan application is approved. Once the loan application is approved, you will have 30 calendar days to close the transaction. If the transaction does not close within the 30-day period, the interest rate could change. 15-year and 30-year offers apply for customers with a credit rating of 740 or higher and credit history (0,0,0), for conforming loans that are Approved Eligible under Fannie Mae’s DU program. Loan amount from $75,000 to $806,500. 1. Offer for loans insured by the Federal Housing Administration (FHA) from $75,000 to the established limit for each municipality, with a maximum of 96.5% of purchase price or appraisal (LTV), whatever is lowest for the sale of a new or existing home. For refinance without surplus up to a maximum of 97.75% and for refinance with surplus up to 85%. This product requires FHA mortgage insurance. For an FHA 30-year loan 1.250% under the prevailing interest will be honored at closing time. 2. Offers for conventional conforming loans apply up to 60% LTV. Conventional conforming loans whose LTV exceeds 80%, will require additional approval of a private mortgage insurance. Offers for conforming loans apply to properties with only one unit. Purchases with an LTV higher than 60% carry an additional Loan Level Price Adjustment cost. Additional costs apply for refinancing. For a conventional 30-year loan 1.625% under the prevailing interest will be honored at closing time. For a conventional 15-year loan 2.375% under the prevailing interest will be honored at closing time. Offers are subject to the delivery of requested documents and credit approval according to parameters established under FirstMortgage and the Federal Housing Administration. Subsequent offers may invalidate these offers. Other conditions apply according to the criteria established by FirstMortgage. For loans over $806,500 or when the property is in a condominium, other offers apply. Certain restrictions apply. FirstMortgage is a division of FirstBank Puerto Rico. FirstBank is an FDIC Member: Equal Housing Lender. OCIF Lic. B-31.