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
6155 Rockside Road
Bldg. #1, Suite 401
Independence, OH 44131
877-281-9779

Reliance First Capital, LLC
681 Andersen Drive
BLDG 6, Suite 500
Pittsburgh, PA 15220
877-735-3545

Reliance First Capital, LLC
17330 Preston Road
Suite 200B
Dallas, TX 75024
855-747-8949

Reliance First Capital, LLC
800 Crescent Centre Drive
Suite 500
Franklin, TN 37067
888-751-0230

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

How to Find the Real Cost of Monthly Payments

Maybe you've run a mortgage calculator to determine the payment on your dream home, and it seems reasonable. However potential homeowners need to understand the real cost of purchasing a home before they sign the mortgage documents. There are several itemized charges that add to a monthly total payment which should be considered; Reliance First Capital brings you a few examples of what they are.

Principal: Don’t suffer sticker shock when you see that you’ve only paid off a tiny fraction of your loan after a year of monthly payments. When you take out a fixed-interest loan for a specified term, your basic monthly payment will stay the same for the life of the loan. However, that payment includes both the amount going to the loan total (or principal) and the interest. At the beginning of the loan the majority of the payment will be going to interest. As time goes on and the principal gets paid down, more of the payment will go toward principal.

Interest: Your basic loan payment will always include both principal and interest, but interest is applied in different ways. The most common loan structures offer either fixed or adjustable interest rates:

Taxes: You will also pay property taxes (for city, county, state, and school district) in monthly increments through your mortgage payments. A part of each month’s payment goes into an escrow account held by the lender, which then pays the taxes when they become due.

It’s critical to understand all of the elements of your total payment before closing on your house. At Reliance First Capital, we take special care to help our customers determine which loan is right for them, and help them decide how much debt burden they can and should take on based on their real monthly payment.

Reliance First Capital can find the loan option to meet your unique lifestyle and financial goals. Learn more about Reliance First Capital by contacting us at 866-735-9004 or visiting us online at www.reliancefirstcapital.com.

Quick Stat

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

To learn more about which loan programs you may qualify for, contact your Reliance First Capital mortgage analyst today. Reliance First Capital can find the loan option to meet your unique lifestyle and financial goals. Learn more about Reliance First Capital by contacting us at 866-735-9004 or visiting us online at www.reliancefirstcapital.com.

Source: http://blogs.wsj.com

Why Do Lending Institutions Deny Loan Applications?

Spurred by low interest rates, many people continue to refinance their mortgage and/or purchase new homes. But some find out that they don’t qualify for a mortgage after submitting a loan application. What are some of the reasons why a lending institution would deny an application?

Credit score/history: Many of today’s loan programs, whether conventional or government-backed, require a minimum credit score and a satisfactory credit history. While there are programs that allow for credit scores below 620, consumers must realized that those programs will have more restrictions. For consumers who are facing credit issues, Reliance First Capital offers a free Credit Coach service which can provide insights and recommendations on how to correct and/or improve your credit score. If you're interested in knowing more about the Credit Coach program, ask your Reliance First Capital mortgage analyst for more details.

Appraised value: Lenders, as well as homeowners, are at the mercy of the appraised value of a home for any loan program that requires an appraisal (which is most loan programs). The appraised value is used to determine the Loan-to-Value (LTV) ratio (loan amount / appraised value) which is a key determinant for qualifying for a mortgage.

Income: Lenders, the government, and all involved in the mortgage process want to make sure that a homeowner has the means to consistently pay their mortgage. Thus an applicant’s income is highly scrutinized to ensure this fact. While lenders can take into account issues like seasonality of pay, sources of income, etc., a loan will be denied if it is determined that not enough income is available/provable to meet the proposed monthly mortgage payment.

To learn more about which loan programs you may qualify for, contact your Reliance First Capital mortgage analyst today. Reliance First Capital can find the loan option to meet your unique lifestyle and financial goals. Learn more about Reliance First Capital by contacting us at 866-735-9004 or visiting 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. 

“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.

Reliance First Capital moves to new offices in Pittsburgh, PA

Pittsburgh, PA  May 24^th, 2013 :  Reliance First Capital, LLC, a national direct lender, announces their Pittsburgh originations center has moved to a new location at 425 Holiday Drive, Suite 200 Pittsburgh PA 15220. 

The new office space is equipped with double the bandwidth speed than the branch’s previous location allowing all services to run quicker and more efficiently. The new space also features a larger training room to support the growth in headcount at the branch.

“The new location will allow our Pittsburgh branch to operate at increased efficiencies while providing the room for continued growth in personnel and transactions,” remarked Hugh Miller, President and CEO of Reliance First Capital.

At Reliance First Capital, our organization is dedicated to helping not only our customers achieve their financial goals but 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 Foster Plaza 2:  situated in Green Tree Borough, the Foster Plaza Office Park is committed to providing service with a personal touch, ensuring top-quality management, maintenance and unmatched services such as executive services, mailer service, fiber optic internet, and day care facilities.

Reliance First Capital’s Charlotte Branch Moves to New Offices

Charlotte, NC  May 17^th, 2013:  Reliance First Capital, LLC, a national direct lender, announces their Charlotte originations center has moved to its new location at 11605 North Community House Rd, Suite 200 Charlotte NC 28277.  The new location is in the Calhoun Building which is one of the newest structures in the Ballyntyne Office Park complex. 

“Supporting growth for a successful organization requires many factors, two of which are having the right people in the right place,” remarked Hugh Miller, President and CEO of Reliance First Capital.  “With this move, our Charlotte Branch is now located in a newer, larger space which allows for its continued growth and success.”

The new office space will allow for the branch to double its headcount which includes room for Sales, Management, Processing and support staff.  The building features a three story parking garage, courtyard, and local amenities such as golf, shopping, and daycare.

At Reliance First Capital, our organization is dedicated in helping not only our customers achieve their financial goals but 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.­­­­lkarpen@reliancefirstcapital.com

About the Ballantyne Office Park:  situated in the heart of Mecklenburg, the complex touts an impressive 140,869 square feet of space and is famed for being the International Office Park of the Year in 2012. The Calhoun building is positioned on the 12^th hole of The Golf Club at Ballantyne which overlooks the Ballantyne Resort and a helipad.