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Mortgage LenderMortgage BrokerEquity Loans
When flying first class, you expect a more comfortable and convenient experience. Why can’t you have that same feeling with your mortgage process? From first contact to closing, everything we do is First Class. Locally-owned and operated out of the Midwest, you will receive the highest level of customer service and industry experience. We encourage questions. We listen. We act. We’re your trusted advisor. As your mortgage consultants, we’re dedicated to providing our clients with exceptional service and a First Class home loan experience. We have over 100+ years of experience working in the mortgage industry which allows us to help you find the right product at the lowest rates and closing. Call us to learn more!
Details
- Wheelchair accessible restroomAvailable
- Wheelchair accessible seatingAvailable
Location
Hours
Reviews
4.8
121 reviews
5 stars
115
4 stars1
3 stars0
2 stars0
1 star
5
What are people saying?
AI-generated from recent customer reviews
Customer Service
Customers consistently praised the exceptional customer service, highlighting the team's responsiveness, professionalism, and genuine care throughout the mortgage process.
Process Efficiency
Many reviews noted the smooth and stress-free experience during the mortgage process, with clear communication and timely updates provided by the team.
Expertise and Support
Clients appreciated the team's knowledge and ability to explain complex mortgage details, making them feel supported and informed at every step.
Repeat Business
Numerous customers expressed their intention to return for future mortgage needs, indicating high satisfaction and trust in the team's capabilities.
- NRNyamka ReeseNov 30, 20255.0Everyone was very responsive and easy to work with! Made our home purchasing process smooth and easy!
- CMCarlos MariscalNov 28, 20255.0Dan and his team made the entire mortgage process smooth, transparent, and completely stress-free. From the very beginning, they went above and beyond to answer every question, explain each step clearly, and make sure I felt confident throughout the process. Their communication was fast, professional, and always friendly. What really stood out was how much they genuinely cared — Dan and his team treated me like a person, not just a file. They found the best loan option for my situation and made sure the closing stayed on track with zero surprises. If you’re looking for a mortgage company that delivers top-tier service, honesty, and true expertise, Dan and his team are the ones to trust. I couldn’t be happier with my experience and highly recommend them to anyone.
- PRPhilip ReevesNov 28, 20255.0This is the second time I've worked with Dan, and both were a experiences were stellar. He is highly communicative, and made the whole home-buying process seem easy. I would recommend him to anyone!
- DFDark FrostNov 7, 20255.0Everyone at first class mortgage was super helpful. I would highly recommend. Their customer service is exceptional and worth your time.
- NMNora MartinezNov 4, 20255.0I would like to express my strong recommendation for First Class Mortgage. I engaged with their team for a year prior to purchasing my first home, and they facilitated an exceptionally seamless and stress-free process. Their expertise in elucidating the complexities of the paperwork and addressing my inquiries was invaluable.
Frequently Asked Questions About First Class Mortgage
What documentation do I need to provide?
The documentation required for each loan differs depending on the loan program. While some programs require income, employment, and asset verification, others require no documentation at all. Your mortgage consultant will provide you with a list of items needed.
Q: Are there any loan programs that don’t require a down-payment?
Yes, there are loan programs that do not require a down payment. If you and/or the property you are purchasing meet certain credit, employment history, location and other determining factors, a zero-downpayment loan may be an option for you. Contact one of our mortgage consultants to see if this is an option for you.
What is mortgage insurance and why is it required? Is there any way around mortgage insurance?
Mortgage insurance protects the lender against taking a financial loss in the event the mortgagor stops making payments. It is required on mortgage programs that require little or no down payment and the lenders exposure is greater than 80% of the purchase price or appraised value, whichever is less.
Mortgage insurance can be avoided by utilizing loan programs such as an 80/20, in which a 1st mortgage (80% LTV) and 2nd mortgage (20% LTV) are taken on the property. No down payment is required. Or, there is Lender Paid Mortgage Insurance (LPMI). With this option, the lender pays the mortgage insurance, which is offset by a higher interest rate charged to the borrower.
If I’ve filed bankruptcy in the past few years, will I still qualify for a mortgage loan?
Yes, it's possible to get approved for a mortgage loan after a bankruptcy filing.Depending on the type of filing — Chapter 7 vs. Chapter 13 — and other factors, you may have to wait anywhere from two to four years before you can get another mortgage loan. Short sales and foreclosures are different. Give us a call to discuss your options.
What are some of the benefits of Government loans (FHA, VA, USDA Rural Housing)?
Government backed loans have become an increasingly attractive option for borrowers. With the ease of qualification and enticing low interest rates, these loans provide many borrowers with access to affordable mortgages. There are FHA, VA, USDA Rural Housing programs that require little or no down payments, no pre-payment penalties, and limited amounts of certain fees and charges the borrower must pay to establish the loan. These programs also have rates that are comparable to conventional loans.
How is my ARM rate determined?
Adjusted Rate Mortgages have variable interest rates - interest rates that change on monthly basis depending on market conditions. Rates are determined by adding a margin to an index on a specific date.
What is a balloon loan?
A balloon loan is a short term loan with payments amortized over a longer period of time. These payments are not sufficient to pay off the loan in full within the term of the loan. The remaining balance, known as the balloon payment, is due in full at maturity of the note.
How is my monthly mortgage payment applied to my mortgage loan?
Your monthly mortgage payment includes a payment to the principal balance, interest, and escrow, otherwise known as P.I.T.I. (principal, interest, taxes and insurance).
What is the difference between pre-qualification and pre-approval?
Pre-qualification is a lender's judgment of your ability to make payments on your mortgage, based on your verbal statement of income, assets, and employment history. Pre-approval is the underwriting decision that you are conditionally qualified and is subject to the lender's review of your completed application, verification of your income, assets, employment history, credit check, appraisal and other determining factors.
Is there a fee to submit my application online?
No, applying online is free.
Once I’ve submitted my application online, how long will it take before I know if I’ve been pre-qualified?
You will receive a phone call from one of our mortgage consultants within 24 hours (during standard business days) of submitting your application. Depending on the complexity of your loan scenario, the pre-qualification process is fairly quick. A "pre qual" is a guide as you go through the home buying process. It does not guarantee you will be approved for the mortgage.
What is the difference between the interest rate and the annual percentage rate (APR)?
The interest rate is the rate you agree to pay for your mortgage loan. It is used to determine the interest portion of your monthly payment. The annual percentage rate (APR) includes your interest rate and prepaid finance charges to give you an average yearly rate.
What is a discount point?
A discount point is generally a percentage of the loan amount and is paid to the lender to buy down or lower an interest rate.
What is an escrow account?
An escrow account is set up to collect your payments for property taxes, homeowners insurance and possibly other items, in equal amounts over a 12-month period, to be paid on your behalf when those bills come due.
What is a rate lock?
A rate lock is a contractual agreement between the lender and buyer. There are four components to a rate lock: loan program, interest rate, points, and the length of the lock.
What are points?
It is an upfront cash payment required by the lender as part of the charge for the loan, expressed as a percent of the loan; e.g. '2 points’ means a charge equal to 2% of the loan balance.
What are special assessments?
Special assessments are different than property taxes. They are the method the city uses to pay for infrastructure improvements that benefit properties, such as water main replacement and flood protection projects. The cost of these projects is divided among properties that benefit from them.
What documentation is required when applying for a loan with First Class Mortgage?
The documentation required varies by loan program. Some require income, employment, and asset verification, while others do not require documentation. Your mortgage consultant will provide a specific list.
Are there loan programs that don’t require a down payment?
Yes, certain loan programs may not require a down payment if you and/or the property meet specific credit, employment, and location criteria. Contact a mortgage consultant to explore eligibility.
Why is mortgage insurance sometimes required, and can it be avoided?
Mortgage insurance protects lenders from loss if payments stop. It's required when down payment is low and loan-to-value exceeds 80%. It can be avoided by using options like 80/20 loans or lender-paid mortgage insurance with higher interest rates.
Can I qualify for a mortgage loan after filing for bankruptcy?
Yes, depending on your bankruptcy type and other factors, you may qualify after waiting two to four years. Short sales and foreclosures have different qualifications. Contact us to discuss your specific situation.
What are the benefits of government-backed loans such as FHA, VA, and USDA Rural Housing?
These loans offer ease of qualification, low interest rates, little or no down payments, no prepayment penalties, limited fees, and competitive rates compared to conventional loans.
What are the business hours of First Class Mortgage?
The office is open Monday through Friday from 8:00 AM to 5:00 PM. Weekends are available by appointment only.
Where is First Class Mortgage located?
We are located at 2300 13th Ave S, Fargo, ND 58103, USA.
Does First Class Mortgage have wheelchair-accessible facilities?
Yes, First Class Mortgage offers wheelchair-accessible parking, seating, and restrooms, including unisex and accessible restrooms.
Are there financial advisors near First Class Mortgage that clients might consider consulting?
Yes, several Ameriprise Financial Services advisors such as Christopher Swanson, Michael Linster, and Jason Bedford are nearby, perfect for clients seeking comprehensive financial planning alongside mortgage services.
What dining options are available near First Class Mortgage for clients visiting the area?
Nearby restaurants include Rugsan Cuisine, an Ethiopian and African restaurant, and Burger King for quick meals, ideal for clients to enjoy before or after appointments.
Are there beauty and wellness services near First Class Mortgage for clients to visit?
Yes, clients can visit nearby salons and spas such as Hair by Amber Fischer, Blinks & Beauty, and Intuition Massage, LLC for relaxation and grooming services around their mortgage visits.