First Tech Federal Credit Union
5100 Northeast Dawson Creek Drive, Hillsboro, OR 97124
https://www.firsttechfed.com/
Internal Reviews
(0 reviews)
Total loans closed with Loan Factory
9
Total loans closed with Loan Factory (past 12 months)
1
Lender overview
Basic information
First Tech Federal CU ISAOA PO Box 702747 Dallas, TX 75370
N/A
Lock policies & Fees
Lock Policies
You can extend for an additional 60 days if needed
The loan may be re-locked 1 time, with a new 60-day lock period. Re-locks will be at current market price.
Lender's niche & Overlays
Competitive rates on 1st and 2nd lien position for standalone HELOCs for owner-occupied properties. Piggyback transactions also available. 10 year initial draw period with interest-only payments, followed by 20 year amortized repayment period.
Lender-paid broker comp
- Aggregate to $3.5 Million – Tied to CLTV
- Lender paid comp at 2% of the draw on both Standalone and Piggyback. NO CAP
- Minimal LLPA’s
- HELOC in 1st Lien Position Allowed
- Line Amount Rate Improvements
- (.50) credit for Piggyback transactions
- (.125) credit for >780 FICO
- 50% DTI with minimal comp factors
- Qual Rate at 2% using interest only payment
- For HELOC Standalone product - No maximum size for 1st Mortgage, as long as aggregate is met
If not stated in our guidelines, we follow FNMA
Lender turn time
2
2
2
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