Welcome to First Banker Mortgage Corp., a premier full-service mortgage company based in Encino, CA. Our passion lies in bringing the American Dream of homeownership to life with our tailored financing solutions.
We are deeply committed to helping our clients achieve their dreams of owning a home. We believe every homeowner deserves a financing plan that perfectly aligns with their needs. By working closely with our clients, our experts craft loan programs that comfortably fit within their budget, empowering them to purchase the home they have always envisioned.
First Banker Mortgage Corp. has the right team of professionals to be by your side as you make informed decisions toward the outcome you desire.
Q: What type of loan programs are available?
A: At First Banker Mortgage Corp., we take pride in offering various loan programs designed to cater to your unique needs. These include 10, 15, 20, 25, and 30-year loans, fixed rates, adjustable rates, term loans, and more. We also provide specialized programs specifically tailored for individuals with fixed income, low income, or previous credit challenges.
Q: How much can I borrow? Will I need a down payment?
A: We understand that financing is crucial in achieving your dream of homeownership. With that in mind, we offer flexible borrowing options. Depending on the circumstances and state law provisions, you may borrow up to 95% of the purchase price or appraised value of your home and lot or up to 90% if you need to consolidate debt or access cash for other necessities.
Additionally, in many cases, we can include closing costs in your loan. If you are a homeowner looking to purchase a new property, we can leverage your existing equity to cover down payment and closing cost requirements.
Q: Do I have to occupy the home to qualify for the loan?
A: No, First Banker Mortgage Corp. provides loans for various occupancy scenarios. Whether you are an owner-occupier, purchasing a second home, or investing in rentals, we ensure our loan programs can accommodate your circumstances. Furthermore, if you require additional support for qualification, we accept co-signers who do not live in the property on many of our loan programs.
Q: How difficult and long is the loan approval process?
A: We believe in a common-sense approach to processing your loan request. With the submission of appropriate documentation, we strive to provide approval within 24 hours of receiving your completed application, subject to verifications, credit reports, and appraisal.
Q: What are the closing costs?
A: Closing costs encompass the typical expenses associated with a residential transaction in your local area. This may include charges from local vendors, such as appraisers, title companies, and closing agents (actual charges may vary based on contracted services). Third-party costs, including recording fees, tax service charges, and flood certification fees, may also apply.
Moreover, First Banker Mortgage Corp. provides its own charges for credit reports, processing, and underwriting. If points are required, they will vary depending on the loan program. Other fees may also be applicable. Within three business days of receiving your application, we will provide you with an estimate of closing costs to ensure transparency throughout the process.
Q: Will homes titled under HCD (in California) be subject to property taxes?
A: Yes, homes subject to HCD license fees in California will be transferred to tax rolls and may be subject to property taxes.