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By myfirstcho6600809, Dec 10 2018 06:44PM

Determining your “ideal loan payment” takes into account all of your family and financial circumstances.

Our focus is on helping you get a mortgage you can comfortable afford, given your other expenses, priorities and goals.

Here's what we do...

HELP you clarify your financial needs and goals

FIND a mortgage solution that meets your personal needs

ACT as your advocate in negotiations with lenders

PRESENT your paperwork to help secure the mortgage loan you want

We can help you, your family and your friends obtain funding for new-home purchases, home renovations, debt consolidations and other major purchases!

Please share this newsletter with anyone you know who is in the market for a mortgage!

We appreciate your referrals!

Call today!

By myfirstcho6600809, Dec 3 2018 06:24PM

Since many buyers and sellers just happen to hold off on real estate activity during this time of year, you can take full advantage this unique season to buy or sell!

The truth is, you can actually benefit from buying a home or listing your property between November and January.

3 Buyer & Seller Benefits to Holiday Home Shopping

Less competition: Note that if you’re buying, bidding wars are less likely with fewer buyers. If you’re selling, chances are your property will stand out even more!

Motivated sellers: Holiday sellers are typically highly motivated to sell-giving you considerable leverage as a buyer. If you’re selling, new buyers are often eager to purchase before the new year.

Decorated homes are downright appealing. There’s no other time of year to show off the brilliance of your home more than you can with festive lights and holiday décor.

When you’re thinking about making a move or helping a family member move…think of us!

As your mortgage specialists, you’ll get the financing facts you need to help you make a happy holiday move.

By myfirstcho6600809, Nov 26 2018 09:13PM

Q: Does the lender own my home?

No! During the life of the loan, YOU retain title and ownership just like with a conventional mortgage. You can sell your home at any time, pay off the loan at any time and, should you want to make payments, you can do that, too, at any time. The loan will not be due as long as you continue to meet the loan obligations.

Q: Do I have to pay taxes on the cash payments I receive?

No! The cash that you receive from a reverse mortgage is tax free. Interest on reverse mortgages is not deductible on income tax returns until the loan is paid off, in part or whole.

Q: How does this affect my estate/my heirs?

When the home is sold or no longer used as a primary residence, the balance of the mortgage, including interest and other finance charges, must be repaid. Because of the FHA insurance in a reverse mortgage loan, you can never owe more than the value of your home, regardless of how much you borrow. If your home’s value is higher than the loan balance at the time of your repayment, you or your heirs keep the remaining equity. No debt is passed along to your estate or heirs.

Still have questions? No problem!

We are committed to providing you with quality mortgage solutions for your present situations, as well as your future goals.

Call today!

By myfirstcho6600809, Nov 19 2018 10:59PM

Home Values Continue to Rise: Home prices are forecasted to rise 5.1 percent next year, according to CoreLogic. If you plan to buy, consider doing so before prices go up again.

The Pace of Home price Appreciation Increases: The rate of home price appreciation appears to be accelerating again… at least for those homes purchased using Fannie Mae or Freddie Mac mortgages.

Consumers Have More Buying Power: Consumers Have More “Buying Power” now than they did a decade ago, according to the First American Real House Price Index. Lower rates and higher income levels have created significantly higher house-buying power.

Sellers Are Making Larger Down Payments: The typical down payment for repeat buyers was 14 percent in 2017, according to the National Association of Realtors, 55 percent of which came from their home sale.

Co-buyers Are Coming Through: More Homes are being purchased today by co-buyers, listed as multiple non-married buyers, according to ATTOM Data Solutions. Co-buyers tend to share the buying costs and allow for a larger down-payment.

Fixed-rate Loans Are Still in First Place: About 94 percent of borrower’s lock in a fixed-rate loan, according to the Mortgage Bankers Association. However, if you do not qualify for a fixed rate, lets talk about other options!

Call us today for hot-off-the-press home mortgage news that directly affects you and your family’s finances and quality of life!

By myfirstcho6600809, Nov 13 2018 07:56PM

You love showering others with special gifts during the holidays. But you don’t like facing mounting credit card debt to make that happen!

Last year, the average amount of post-holiday debt was $ 1,054, according to personal finance site MagnifyMoney. Only half of the consumers said they could pay off their holiday debt within three months.

Sure… Give yourself Some Credit!

Credit cards aren’t all bad. You need different open credit lines to prove you can manage debt.

However, when you shop with a credit card, set a limit for holiday gifts, track your spending and have a three-month pay-off plan for your holiday debt.

Smart Spending Means Better Mortgage Financing

Pay your bills on time and keep your credit card balances low – at least under 30 percent of the limit on each – so your credit score stays high.

A good credit score helps you qualify for the best possible rates for a purchase or a refinance.

Sixty-nine percent of mortgage borrowers have FICO score of 700 or higher, according to a recent report from Ellie Mae, leading development of mortgage technology.

Rely on us to help you save money on your next mortgage!

Call us today.

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