1st Preference Mortgage is 30 yrs old this April 2018. There is a reason for this longevity; 1st Preference is different from other Mortgage Companies and other Banks: • Our Loan Officers have a minimum 10 yrs experience • Our Loan Officers work 50-60 hrs a week • Mostly in the evenings and on the weekends • Whether on the phone or in a direct meeting with our Borrowers: • Our loan applications are taken ONE on ONE • We spend the time to answer all the questions of our Borrowers
1st Preference offers ALL mortgage programs, but we take the time with EACH BORROWER to find the best program for each individual; one product does not fit all. Every Borrower has the cell phone of our Loan Officer for follow up questions. Our Loan Officers will make the time to meet with our Borrowers to give them all the information they may need before negotiating with a Seller. Our Loan Officer is not just an email address or a place to leave a voice mail. When our borrowers want to write a contract, our Loan Officer is their partner, they are available to be contacted directly, even on a weekend or in the evening!
Why do you need to contact your Loan Officers when you are about to write a contract? Yes, you have already been Pre-Approved, but you need a letter to put with your contract to say that your specific offer for this specific property is a good offer.
You may be approvable for a $300,000 house, but your offer on this house Is only $271,000. You want your letter to say $271,000; you are negotiating, You don’t want to tell the seller that you can afford more! You want to know your Closing costs and Pre-paids for this particular house in this particular County for this offer. Yes, your pre-paids can change depending on the offer and THE COUNTY. Your taxes can be very different from one county to another. You want to know because you may want to negotiate with the seller to pay them all; you need to give the seller a specific number.
Changes to the Property Value could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
You can change the property value by moving the Property Value slider up or down or by entering a new Property Value manually in the Property Value box.
When you change the Property Value, only the LTV will change, and the Loan Amount will remain the same Loan Amount.
Other advanced sliders’ options are available with Lendersa® Advanced Calculator
CloseChanges to the loan amount, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
CloseLTV is the abbreviation of Loan To Value, and it is the ratio between the Loan Amount and the Property Value. The formula to calculate LTV is Loan Amount divided by the property value. 
Example: Loan Amount $300,000, Property value $400,000 
Changes to the LTV, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
Close
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NMLS 1795154