Hey, I'm Eric.
Your mortgage broker.

Eric Hoffman (NMLS #2397260) is a mortgage broker with First Rate Financial who has closed hundreds of loans. He handles all loan types in Alaska, Idaho, and Colorado, arranges investment property loans in almost every U.S. state, and shops multiple lenders for conventional, FHA, VA, USDA, jumbo, and AHFC options. Call or text (907) 388-0922 or email Eric.H@firstrateak.com.

Eric is licensed for all loan types in Alaska, Idaho, and Colorado. He also arranges investment property loans in almost every U.S. state, and refers commercial loans to a trusted commercial lending partner.

Yes. Eric arranges loans for rental homes and 2-4 unit properties in almost every state, including options that qualify on the property's rental income. Tell him the property's location and he'll confirm the options available there. More in the out-of-state investment loan guide.

Eric refers commercial loans, such as mixed-use, multifamily over four units, and business property, to a commercial lending partner. He makes the introduction and stays involved so you have one point of contact.

A bank can only offer its own loans. A mortgage broker compares programs and pricing from several wholesale lenders and helps you pick the best fit. When lenders compete, you win, and a harder file goes to whichever lender actually says yes. Eric's clients say they choose him over a bank for his professionalism, his knowledge, and the wider range of loan options.

Often, yes. Beyond standard loans, Eric has options for recent foreclosure, bankruptcy, or other credit issues, plus bank-statement loans for the self-employed, asset-based loans, and loans for borrowers with no credit score. Terms differ from a standard loan, so tell him your situation and he'll tell you straight what fits.

Most pre-approvals are a letter based on a quick review. With First Rate, Eric underwrites your file up front, so your pre-approval is backed by a $5,000 Closing Guarantee. It makes your offer stronger with sellers. The guarantee doesn't cover the appraisal, and terms and conditions apply.

No. VA and USDA loans can require 0% down, FHA loans require 3.5%, and some conventional loans allow 3% down. With less than 20% down you'll usually pay mortgage insurance, which can be inexpensive with good credit.

Conventional loans generally need a 620 or higher. FHA loans can allow scores down to 580 with 3.5% down. If your score is lower, Eric can suggest specific steps to improve it and a realistic timeline to buy.

Lenders look at your credit, income, employment history, and debt-to-income ratio. Paying down revolving debt, avoiding new credit before closing, and keeping steady employment all help. Getting pre-approved early shows you exactly where you stand.

Yes. Lenders typically want a two-year history in the same line of work and will average your income from tax returns. Seasonal work common in Alaska, such as fishing, tourism, and construction, can qualify when it's documented. Eric grew up commercial fishing and knows how to present this income to lenders. See the self-employed and seasonal income guide.

Private mortgage insurance protects the lender when you put less than 20% down. It isn't necessarily bad. It lets you buy sooner instead of waiting years to save, and on a conventional loan it can be removed once you reach 20% equity.

Yes. The Alaska Housing Finance Corporation (AHFC) offers programs for first-time buyers, veterans, and rural properties, and Eric offers AHFC loans. He'll compare an AHFC loan side by side with conventional, FHA, and VA options so you can see which costs less. See the AHFC loan guide.

Yes. Eric offers VA loans in all three states for eligible veterans, service members, and some surviving spouses. VA loans need no down payment for buyers with full entitlement and have no monthly mortgage insurance. See the VA home loan guide.

Yes. A pre-approval tells you your price range before you fall for a house, and sellers take your offer more seriously. Eric underwrites up front, so his pre-approvals come with the $5,000 Closing Guarantee.

Most purchase loans close in 30 to 45 days after an accepted offer. Getting pre-approved and uploading documents early is the best way to keep things on schedule.

Usually 30 days of pay stubs, two years of W-2s, two months of bank statements, and a photo ID. Self-employed borrowers also need two years of tax returns. You can upload everything through Eric's secure portal.

When the monthly savings pay back your closing costs within a few years, or when you want to drop mortgage insurance, shorten your term, or take cash out. Join the refinance watchlist and Eric will tell you when the numbers work.

Refinancing has closing costs, such as an appraisal, title, and lender fees, usually a few percent of the loan amount. Eric compares those costs against your monthly savings so you know exactly how many months it takes to break even before you decide.

No. The quiz doesn't pull credit. A credit check only happens if you choose to apply for pre-approval.