Frequently Asked Questions

Ready to buy a home?

Ready to refinance?


If you have questions, we have answers. See our list of FAQs for answers to commonly asked questions.

What is First Harrison Mortgage?
First Harrison Mortgage is the EASY way to get a home loan. We’ve been in business for over 125 years helping people just like you. You will start and finish the process of getting your mortgage with us. 

Why should I use First Harrison Mortgage?
You’re a highly intelligent individual, that’s why! In all seriousness, we’re your online mortgage provider that has all the personal touches of doing it in person. Every situation is unique, and we’ve seen many of them! We will be sure to make the mortgage process EASY.

How do I sign in?
You can sign in here. You can also click the “Log In” button at the top-right of our site on a desktop or in the menu tree on all other devices.

Can I get a mortgage for a property anywhere?
We are available most anywhere inside the United States. We can help you near and far!

What’s the process?
The first step is for a little online interview. Don’t worry, though! This interview is much easier than a job interview or a first date. We just need to get to know you. With the answers to our online questions and your credit report, we can get you started on your mortgage journey. After that, our staff will take care of you like we would our neighbor and get you to the finish line as quickly as possible.

Will applying for a mortgage affect my credit?
Just like any other application for credit, applying for a mortgage will appear on your credit report. This could influence your credit score, but not significantly.

How does First Harrison Mortgage do appraisals?
We have a network of independent, local appraisers in your area that we call upon to do your home’s appraisal. The appraiser will visit the home you’re buying or refinancing to determine its value. Because they’re local, they have a handle on the houses in your area and how they might compare to yours. From there, the appraisal will let us know what the perceived value is of the home.

What do I need to apply for a mortgage?
You will need:

  • Full name, Social Security number, address, and phone number

  • Employer name, address, and phone number

  • Annual income before taxes

  • Value of assets, including banking retirement, and investment accounts

  • Expenses, including housing, credit card, and other loan payments

  • If currently renting, the property address, monthly rent, and name and address of your landlord (for purchase transactions only)

  • The address and sales price of the property being purchased (for purchase transactions only)

Will I have to talk to anyone if I apply online?
In many cases, you may never have to speak with us via phone, but there are certain situations where that might be better. You will receive emails from us throughout the mortgage process.

What if I’d rather talk to someone about my mortgage options?
No problem at all. You can reach us by phone or email during regular business hours.

Will I have a point of contact?
You will have a lot of contacts! At any given time, you will know exactly who is working on your mortgage. You will be able to reach them at any time.

Who is First Harrison Mortgage for?
We only have one initial requirement: You just have to want to buy or refinance a home. That’s easy, right? You can be just starting to look around for homes, ready to make an offer on a home, signed a purchase agreement, or ready to refinance, and we’re ready to help.

What if I’m self-employed?
Being self-employed makes everything a bit different, but you probably already know that, don’t you? We can certainly help you if you’re self-employed, but it might require a bit different documentation than those who aren’t self-employed.

Can First Harrison Mortgage help me calculate a few things?
Our website has several calculators to help you. Check out our Calculators page and choose the one suited for your question.

Are First Harrison Mortgage rates competitive?
Our rates are some of the most competitive you’ll find. We work hard to get you your home at a loan cost you can best afford.

What exactly does "locking" mean?
When we “lock” a rate for you that just means that during the lock period, you know what your rate and monthly payments will be. This gives us and you time to gather all of the necessary paperwork to complete your mortgage.

What if my lock expires?
We typically don’t let a lock expire as we will do extensions. There may be a charge for this dependent on the factors that contributed to the extension. Your rate could be higher at the time of the subsequent rate lock.

How much of a down payment will I need?
It all depends. We have several loan programs. We help you get the right loan program to best serve your interests. Some of those loan programs might not require a down payment at all!

How much cash do I need to close?
Closing costs vary by loan product, loan amount, and more. We will notify you of any closing costs early in the mortgage process.

What are points?
To keep it simple, 1 point = 1%. By paying points, you can get a lower interest rate on your mortgage. Essentially, you’re pre-paying interest to buy down the rate.

What is typically included in my monthly payment?
What’s included in your payment is dependent on several factors with the main one being escrow. If you choose escrow (very common), your monthly payment will include your principal, interest, taxes, and insurance. Your payment may also have private mortgage insurance (PMI) if your down payment is less than 20% of the home’s value.

Can I get a prequalification letter?
Sure you can! Lots of sellers like to see these letters to know that you mean serious business. We’ll help you be able to throw your weight around on that home offer.

How much does it cost to get a prequalification letter?
Not a thing!

What kind of loans can I get?
We have several loan products that we can use to match with your best interest. We have all sorts of loans like conventional, FHA, VA, and others. We’ll be sure you get the best possible loan program.

Can I get a construction loan with First Harrison Mortgage?
First Harrison Mortgage does not currently support construction loans, but you can contact our friends at First Harrison Bank for that!

Can I get a home equity line of credit (HELOC) with First Harrison Mortgage?
First Harrison Mortgage does not currently support HELOCs, but you can contact our friends at First Harrison Bank for that!

Can I use First Harrison Mortgage to buy or refinance a manufactured home?
Yep!

Can I use First Harrison Mortgage to buy or refinance a condo?
Yep!

Can I use First Harrison Mortgage to buy or refinance a second home or investment property?
Yep!

 


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