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Questions to Ask Your Lender

When it’s time to purchase a home or refinance a loan, it’s easy to get caught up in the questions loan officers ask you. But Reliance First Capital knows that it’s just as important to understand the questions to ask lenders so you can gain a better knowledge of the lending process.

Before making a commitment, Reliance First Capital considers you to ask your mortgage professional these questions:

1. When are you available? You’ll have questions, and he or she should be available to answer them.

2. Which loan is best for me? A reliable lender will evaluate your situation to find the best option for you. Ask for an explanation of the pros and cons of various loan types, such as fixed-rate loans, adjustable-rate loans, and interest-only loans.

3. What are all the costs? The costs will include closing costs and settlement costs including, but not limited to, fees paid to the lender and third-party vendor fees. Such costs may include the appraisal, title charges, points to reduce your interest rate (discount points), and prepaid items.

4. What are the interest rate and the annual percentage rate? The interest rate is the cost of borrowing money expressed as an annual percentage rate. The interest rate does not reflect costs/fees or any other charges you may have to pay for the loan. An Annual Percentage Rate (APR) is a broader measure of cost to you of borrowing money. The APR reflects not only the interest rate but also other costs/fees including points, broker fees, and certain other charges that you have to pay to get the loan, including certain of your closing costs.

5. What is the turnaround time? Ask if the underwriters, who review loans and issue conditions before approving or rejecting them, are in-house and if there are any obstacles that could delay closing. Ask what the average time period to process a loan is.

At Reliance First Capital our licensed Mortgage Analysts take the time to explain the cost and benefits of each loan options so together you can identify the program which best addresses your needs and goals. Learn more by contacting Reliance First Capital today at 866-735-9004 or visit us online at www.reliancefirstcapital.com.

Replacing your windows? Here’s what you need to know!

Sometimes repairing your windows isn’t an option. Some homeowners need to replace windows regardless of efficiency, either for aesthetics or because of extensive damage. If you’re going to be in your home for many years, Reliance First Capital suggests you may simply want the convenience and beauty of updated window features.

Reliance First Capital brings you some important factors to consider when choosing replacement windows:ID-100133341

Aesthetic appealMaintain the design integrity of the home by choosing windows that are consistent with your home’s style. Replacing your windows? Here’s what you need to know!                   

Energy efficiency In the long-run, energy efficient windows are worth the initial cost. Not only will they reduce your overall energy costs, but you’ll also be doing your part to help the environment.

Glazing — Double-glazed windows consist of an inner and outer layer of glass, and triple-glazed windows include three layers of glass. The small gaps between the individual glass panes are filled with a gas (typically argon or krypton), providing an insulated layer to reduce heat loss.

Coatings — Windows come with a variety of glazes, films, tints, and remittance coatings. To block the radiant energy striking a window, reflective films are effective. The downside of reflective films is that they also reduce the amount of light allowed in. Tinted glazing reflects radiant energy without reducing natural light.

Frame material — Window frames come in a variety of materials. Wood, aluminum, and uninsulated vinyl are less efficient than fiberglass.

When it is time to repair or replace your windows, take the time to educate yourself so that you find the right options for your budget and your needs.


Reliance First Capital
specializes in helping customers reach their individual need through customized mortgage programs. Reliance First Capital can help find the loan option to meet your unique lifestyle and financial goals. Learn more by contacting Reliance First Capital today at 866-735-9004 or visit us online at www.reliancefirstcapital.com.

Reliance First Capital opens branch in Texas

Plano, TX December 16th, 2013: Reliance First Capital, LLC, a national direct lender, announces the opening of its latest origination center at 5700 Tennyson Pkwy, Suite 180, Plano, TX 75024.

“The opening of our new Texas branch is a key step in our company’s growth,” remarked Hugh Miller, President and CEO of Reliance First Capital. “Having a footprint in Texas not only allows us to serve the great people of that state, but also strengthens our company’s ability to service the many customers we have in the central and western parts of the country.”

The Texas branch will be headed-up by Mark Dusza who joined Reliance First Capital in early October after serving as an Area Sales Manager at Wells Fargo.

At Reliance First Capital, our organization is dedicated to helping our customers achieve their financial goals while providing our employees with a comfortable and safe working environment. Reliance First Capital offers many home loans programs for both refinancing and purchases including FHA, Conventional, VA, USDA, Jumbo, and more.

About Reliance First Capital, LLC (NMLS # 58775): The Company, founded in 2008, is a national mortgage banker committed to responsible lending with superior service, to offering all consumers competitively-priced, affordable and fair mortgage loans, and to preserving access to credit in the residential real estate lending market. Currently licensed or authorized to lend in 27 states, Reliance First Capital’s dedicated and knowledgeable staff continues to help customers with both home purchases and mortgage refinancings. The Company is an FHA approved lender.

Reliance First Capital is headquartered at:
201 Old Country Road
Suite 205
Melville, NY 11747
866-735-9004
info@reliancefirstcapital.com

We have regional offices in:

Reliance First Capital, LLC
11605 North Community House Rd.
Suite 200
Charlotte, NC 28277
866-970-1550

Reliance First Capital, LLC
6150 Oak Tree Blvd.
Bldg. #2, Suite 175
Independence, OH 44131
877-281-9779

Reliance First Capital, LLC
1777 Sentry Park West
Gwynedd Hall, Suite 201
Blue Bell, PA 19422
866-220-9916

Reliance First Capital, LLC
425 Holiday Drive
Suite 200
Pittsburgh, PA 15220
877-735-3545

Reliance First Capital, LLC
5700 Tennyson Pkwy
Suite 180
Plano, TX 75024

Reliance First Capital, LLC
840 Crescent Centre Drive
Suite 350
Franklin, TN 37067
888-751-0230

For more information, visit us at www.reliancefirstcapital.com/about.html

Get the Best-Dressed House on the Block

What’s the first thing you look at when you drive past a home? Sure, landscaping and décor may catch your eye, but they aren’t enough to mask a house that’s in disrepair. If the home’s exterior is in poor condition, it won’t make a good first impression.

Reliance First Capital knows that updating the exterior of your home can significantly improve its market value and sale price. Additionally, up-to-date exterior finishes add an extra layer of protection and insulation, so they can reduce your energy costs. Reliance First Capital brings you several factors for consideration before deciding on what to update.

Condition:  Is there extensive damage to your current siding? If wood is rotted or panels are missing, completely replacing the exterior with siding could save you time and money in the long run.

Permanence:  Siding is expected to last for 25 years or more. While some paints do carry a 20-year warranty, paint doesn’t have the permanence that new exterior siding does.

Efficiency:  If you’re losing heat and cold air from furnaces and air conditioning, your exterior could be part of the problem. Holes and broken seals can cost you hundreds of dollars annually. Adding insulation when replacing old siding will make a home airtight. Although the change won’t be as dramatic, painting can help with efficiency, too. Just be sure to fill holes and gaps, replace seals, repair panels, and add new insulation wherever possible.

Aesthetics:  Paint comes in an unlimited variety of colors and finishes. If aesthetic appeal is your primary concern, siding may limit your choices.

No matter which improvements you may choose, a home can benefit from an update. A fresh look not only improves the appearance of your house, but it also reflects well on the entire neighborhood. So take a closer look at your home’s exterior today — you’ll be glad you did.

Reliance First Capital specializes in helping customers reach their individual need through customized mortgage programs. Reliance First Capital can help find the loan option to meet your unique lifestyle and financial goals. Learn more by contacting Reliance First Capital today at 866-735-9004 or visit us online at www.reliancefirstcapital.com.

Quick Stat

According to data from Freddie Mac, 84% of homeowners who refinanced their first-lien home mortgage either maintained the same loan amount or lowered their principal balance by paying in additional money at the closing table. Of these borrowers, 46% kept about the same loan amount, while 39% decreased their principal balance in the latest period.

Reliance First Capital specializes in helping customers reach their individual needs with the best loan options. Reliance First Capital can help find the loan option to meet your unique lifestyle and financial goals. Learn more by contacting Reliance First Capital today at 866-735-9004 or visit us online at www.reliancefirstcapital.com.

Source: http://blogs.wsj.com

Knowing Your Appraisals, What You May Not Have Known

Here at Reliance Fist Capital we understand the importance of the appraisal process. We also know that appraisals are a key element in the mortgage process and can also be used for property tax assessments. And the value assigned by the appraiser has a direct impact on a mortgage and your taxes. Here are some tips to understanding your appraisal:

 

What is an appraisal? An appraisal is an objective value assessment of a property. A qualified appraiser will evaluate the home and assign a monetary value.

What factors influence the appraised value of a home? Geography, desirability of the neighborhood, local housing market, number of homes on the market, similar homes’ sale prices, condition of the home, number of bedrooms and bathrooms, necessary repairs or upgrades, amenities, and curb appeal are all considerations.

What will be in your appraisal report? Appraisers use standardized forms that include legal descriptions of the property, neighborhood and lot information, materials used for construction, and a grid analysis that compares the property to other similar homes recently sold.

Who chooses the appraiser? When a homeowner is looking for a mortgage, either purchase or refinance, neither the homeowner nor the lender may select the appraiser. Rather, an independent 3rd party appraisal management company (AMC) is responsible for coordinating and selecting an appraiser.

Who pays for an appraisal? The owner of the home pays for an appraisal as they are the party looking to either sell their home or get a mortgage. Appraisals are non-refundable, regardless of the outcome of a sale or loan application. Lenders such as Reliance First Capital may help a homeowner arrange/schedule an appraisal, but the appraisal management company charges the homeowner for the appraisal. Lending companies do not receive any money for appraisals.

 

Reliance First Capital specializes in helping customers reach their individual needs with the best loan options. Reliance First Capital can help find the loan option to meet your unique lifestyle and financial goals. Learn more by contacting Reliance First Capital today at 866-735-9004 or visit us online at www.reliancefirstcapital.com.

Reliance First Capital’s headquarters moves to new office space in Melville

Melville, NY June 21st, 2013: Reliance First Capital, LLC, a national direct lender, announces their corporate headquarters has moved to its new space at 201 Old Country Road, Suite 205 Melville NY 11747.

The new location offers a more modern and professional facility for the firm which has experienced consistent growth. The building features a cafeteria, meditation garden and a fitness center. newbldg

“I’m very excited for all of our Melville-based staff and our entire organization as we take this step to upgrade our headquarters,” remarked Hugh Miller, President and CEO of Reliance First Capital. “Productivity and creativity flourish in the right setting and our new office space at 201 Old Country Road is the right base of operations for our headquarters and company to continue its growth.”

At Reliance First Capital, our organization is dedicated to helping our customers achieve their financial goals while providing our employees with a comfortable and safe working environment.

About Reliance First Capital, LLC (NMLS # 58775): The Company, founded in 2008, is a national mortgage banker committed to responsible lending with superior service, to offering all consumers competitively-priced, affordable and fair mortgage loans, and to preserving access to credit in the residential real estate lending market. Currently licensed or authorized to lend in 26 states, Reliance First Capital’s dedicated and knowledgeable staff continues to help customers with both home purchases and mortgage refinancings. The Company is an FHA approved lender with branches in New York, Ohio, Pennsylvania, North Carolina and Tennessee. For more information, contact Larry Karpen, VP of Marketing at (516) 422-8816 or by email at lkarpen@reliancefirstcapital.com.

About the Grand Metro Builders of NY Corp: Strategically located at the Northern State Parkway and Route 110, this building is situated in the heart of the Melville financial district. The building offers a stunning appearance and features such amenities as underground parking, plentiful surface parking, fiber optic cabling, newly installed state-of-the-art HVAC, a cafeteria, meditation garde¬n, raised flooring throughout, fitness center and emergency back-up generator.

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