Frequently Asked Questions

No, you must be a permanent resident.

Yes, a non-member can be a co- borrower.

Not at this time. You can complete your membership application by clicking here and your mortgage loan application by clicking here.

You can float your rate initially or lock. Once you have locked, you may unlock one-time to float or relock.  Please note, that you will be subject to all current terms and offers at that time.

This is not an option that FedChoice offers.

FedChoice does offer financing on investment properties. You may choose from the 15 or 30 year fixed. We do not offer ARMS on investment properties. 

FedChoice follows Fannie Mae guidelines for our mortgage loans.

Yes, we offer mortgage loans to members in all 50 states.

Yes, 15/15, 7/1, and 5/1. Please note these are non-Jumbo loans.

You can find our membership eligibility here.

While we strive to work through membership applications as quickly as possible, please expect between three to five business days.

While we are normally able to close your loan within 30 days, sometimes unforeseen issues can arise and cause a delay.

You may take advantage of either the 15 or 30 year fixed options.

Yes

This is not something we currently offer.

You can find our rates here. Please note that rates change daily.

To take out any loan products, you must be a member of FedChoice.

For refinancing, we recommend having your membership established prior to submitting a mortgage application

For Purchases, if you are not currently under contract, we recommend submitting membership/mortgage application simultaneously. However, the membership must be approved to move forward with the loan.

You can lock the rate upon conditional approval with a refinance or once a ratified contract is received with a purchase.

Please click here.