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Conventional Fixed

30-Year: 6.25% 0+0
APR: 6.271%

15-Year: 6.00% 0+0
APR: 6.035%

FHA/VA Fixed

30-Year: 6.125% 0+0
APR: 6.908%

15-Year: 5.875% 0+0
APR: 6.508%

Rates Posted: June 3rd, 2008

Additional programs available. Please call your First Mortgage representative for rate and program information.

Rates are subject to change with market conditions. Rates are not guaranteed until locked-in by a First Mortgage representative and written confirmation received.

1.	How can I determine what price house I can afford? Answer
2.	How do I know which type of mortgage is best for me? Answer
3.	What does my mortgage payment include? Answer
4.	How much cash will I need to purchase a home? Answer

Q :	How can I determine what price house I can afford?
A :	Generally speaking, you can purchase a home with a value of two to four times your gross annual household income. However, the amount that you can borrow will also depend upon your employment history, credit history, current savings, monthly debts, and the amount available for down payment. There are a variety of loan programs and products available with little or no downpayment required. Give us a call today. We look forward to discussing your options and to help you determine exactly how much you qualify for.

Q :	How do I know which type of mortgage is best for me?
A :	There is no simple formula to determine the type of mortgage that is best for you. This choice depends on a number of factors, including your current financial picture, as well as, your short and long-term financial goals. First Mortgage can evaluate and offer a variety of mortgage loan programs to help you make this important decision.

Q :	What does my mortgage payment include?
A :	For most homeowners, the monthly mortgage payment includes three separate parts: Principal: Repayment on the amount borrowed Interest: Payment to the lender for the amount borrowed Taxes & Insurance: Monthly payments are normally made into an escrow account for items, such as, homeowners insurance and property taxes. An escrow account is optional with at least 20% down, in which case, these items will be paid by you directly to the city and county tax assessor and property insurance company as they become due.

Q :	How much cash will I need to purchase a home?
A :	The amount of cash that is necessary depends on a number of items. Generally speaking, you will need to have available: Earnest Money: The deposit that is supplied when you make an offer on the house Down Payment: A percentage of the cost of the home Closing Costs: The costs associated with processing and closing your mortgage loan to purchase or refinance a home. Contact your First Mortgage representative for a detailed Good Faith Estimate and the many options available.