Who is First Security
First Security Mortgage Corporation is a MORTGAGE BANKING firm which has done business in Northeast Ohio since 1979. As a “mortgage bank”, we originate, process, obtain approval, and direct the closing of every loan we make.
Like a bank, we make CONVENTIONAL loans, as well as FHA Insured, VA (Guaranteed) and USDA Guaranteed loans.
We make Conventional Loans
We offer conventional financing with 5% down payment, and loans with Lender Paid Mortgage Insurance (LPMI) are also available. With 20% down payment, no PMI is required. Our conventional loans “conform” to the guidelines set forth by Fannie Mae (FNMA) and Freddie Mac (FHLMC). We can also finance unique situations and “non-conforming” or Jumbo loan amounts.
We are an FHA “Direct Endorsement” Lender
FHA has given First Security Mortgage Corporation the privilege of approving FHA loans on their behalf. We are a VA “Automatic” Lender.
We are a VA “Automatic Approval” Lender
Like FHA, VA has given First Security Mortgage Corporation the privilege of approving loans on their behalf.