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First Community Mortgage, Inc.

Imagine Real Estate ServicesFirst Community Mortgage, Inc.
Kathy King
Branch Manager
108 North First Street
Dixon CA 95620

Office: 707-678-3500

Email: Kathy@gofirstcommunity.com

Website: http://www.gofirstcommunity.com

Providing Financial Solutions for your Real Estate Needs!

First Community Mortgage, Inc. is committed to helping you find the right mortgage product for your needs. We understand that every borrower is different, and we offer a variety of products to meet your individual requirements. Whether you are an Investor or looking for a home loan from your primary residence we make the process of securing a mortgage simple and straightforward by offering you the latest in financial tools that enable you to make sound financial choices.

1. How do I know how much house I can afford? Answer
2. What is the difference between a fixed-rate loan and an adjustable-rate loan? Answer
3. How is an index and margin used in an ARM? Answer
4. How do I know which type of mortgage is best for me? Answer
5. What does my mortgage payment include? Answer
6. How much cash will I need to purchase a home? Answer
7. What program is best for my situation and that will meet my goals? Answer
Q: How do I know how much house I can afford?
A: Generally speaking, you can purchase a home with a value of two or three times your annual household income. However, the amount that you can borrow will also depend upon your employment history, credit history, current savings and debts, and the amount of down payment you are willing to make. You may also be able to take advantage of special loan programs for first time buyers to purchase a home with a higher value. Give us a call, and we can help you determine exactly how much you can afford.
Q: What is the difference between a fixed-rate loan and an adjustable-rate loan?
A: With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an adjustable-rate mortgage (ARM), the interest changes periodically, typically in relation to an index. While the monthly payments that you make with a fixed-rate mortgage are relatively stable, payments on an ARM loan will likely change. There are advantages and disadvantages to each type of mortgage, and the best way to select a loan product is by talking to us.
Q: How is an index and margin used in an ARM?
A: An index is an economic indicator that lenders use to set the interest rate for an ARM. Generally the interest rate that you pay is a combination of the index rate and a pre-specified margin. Three commonly used indices are the One-Year Treasury Bill, the Cost of Funds of the 11th District Federal Home Loan Bank (COFI), and the London InterBank Offering Rate (LIBOR).
Q: How do I know which type of mortgage is best for me?
A: There is no simple formula to determine the type of mortgage that is best for you. This choice depends on a number of factors, including your current financial picture and how long you intend to keep your house. Imagine Real Estate Services can help you evaluate your choices and help you make the most appropriate decision.
Q: What does my mortgage payment include?
A: For most homeowners, the monthly mortgage payments include three separate parts:

  • Principal: Repayment on the amount borrowed
  • Interest: Payment to the lender for the amount borrowed
  • Taxes & Insurance: Monthly payments are normally made into a special escrow account for items like hazard insurance and property taxes. This feature is sometimes optional, in which case the fees will be paid by you directly to the County Tax Assessor and property insurance company.
Q: How much cash will I need to purchase a home?
A: The amount of cash that is necessary depends on a number of items. Generally speaking, though, you will need to supply:

  • Earnest Money: The deposit that is supplied when you make an offer on the house
  • Down Payment: A percentage of the cost of the home that is due at settlement
  • Closing Costs: Costs associated with processing paperwork to purchase or refinance a house
Q: What program is best for my situation and that will meet my goals?
A: There is a variety of loan programs available, knowing which one will meet your specific needs is our job to annaylize and communicate to you.  Our primary goal is to provide you the financial solution to meet your needs and your goals.

Mission Statement:

First Community Mortgage, Inc. is committed to providing it’s clients with professional and personal service in meeting their real estate financial needs.  The mortgage process can be an overwhelming experience especially for those who have credit challenges.  Our licensed professionals are committed to simplifying the process along with educating our clients.  Our goal is to educate and help our clients make informed decisions, while offering the most competitive interest rates, term and loan programs available in today’s market.

 

Whether you are a first time home buyer and need some hand holding or an experienced investor wanting to purchase or evaluate your current cash flow First Community Mortgage, Inc. is committed to giving you honest answers even if there is no benefit to the company.  The core of the company is to have an ongoing life relationship not just finance a loan.

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Meeting Schedule

Every Tuesday Morning
Time: 8:00AM - 9:00AM

Location: Bud's Pub and Grill
Address: 100 S. 1st Street
City: Dixon, CA 95620