Jimmy Vercellino, an experienced professional with mortgage lender First Choice Loan Services, works hard to provide a personalized home loan process for you. Options include FHA and VA loans, fixed / adjustable rate mortgages, Jumbo loans and more. \n\nFirst Choice Loan Services\n7600 E. Doubletree Ranch Road #200\nScottsdale, AZ 85258\n480-800-8387\n
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Purchasing a home is a huge transaction and not one you want to enter lightly. It can also be
an exciting adventure particularly if it’s your first home purchase.
The excitement can quickly fall to the wayside, however, if you’re unfamiliar with the process
and find yourself in over your head. Using a loan specialist can make all the difference.
Learn what a loan specialist can do for you and why it may be beneficial to have one when
obtaining a mortgage.
What is a Home Loan Specialist?
A home loan specialist is a professional trained in the areas of finance, business and loans.
When you apply for a mortgage, you may find that there is a lot more to the process than
Depending on the lender, it can be a simple process, but are you getting the best deal
A loan specialist can not only help get you through the process, but they can help you choose
the loan that’s best for you and/or your family.
What many don’t realize is that there are different types of mortgage loans.
FHA Loans – FHA loans are loans that are backed by the Federal Housing Administration.
They do require that you purchase mortgage insurance, but also offer benefits. They typically
offer lower interest rates and are available to borrowers with less-than-perfect credit scores.
FHA loans also require only a 3.5 percent down payment. They are an excellent option if
you’re a first-time home buyer.
VA Loans– VA loans are mortgage loans available to veterans and their spouses.
They are backed by the Department of Veterans Affairs, so they are also attractive to
potential homebuyers or homeowners interested in refinancing their current mortgage
They’re also available to consumers with less-than-perfect credit. The best features of VA
loans are that they do not require mortgage insurance and typically don’t require a down
Conventional Loans– Conventional loans are mortgage loans you get through lending
institutions like banks, savings and loan, credit unions and private lenders.
They may or may not require mortgage insurance depending if you have at least 20 percent
Credit scores, home values, down payments and debt-to-income ratios usually determine
While conventional loans may appear to be the most unattractive of the three types, there
are times they’re the best option. Here again is where a loan specialist can be of great service.
What a Loan Specialist Does for You
Since you’ll probably be making payments on your mortgage for anywhere from 10-30 years,
you want to make sure you’re getting the best and most affordable loan.
A loan specialist will assist you with the following.
•Completing and submitting your documentation
•Going over the lending process with you
•Helping you choose the right lender
•Explaining loan terminology
•Explaining the different types of mortgage loans
•Helping you choose the right loan type
•Assisting you throughout the entire process from the beginning and through the
Having a loan specialist working with you can make the difference of a complicated or easy
It can also leave you with the confidence that you got the best deal and are armed with the
information you need regarding your mortgage loan.