Recent update:  Evan Hodge joins forces with First Priority Financial Real Estate Lending Services in Calabasas, California. In wake of the nationwide subprime mortagage implosion, Evan has teamed up with Sher Murata, in FPF's Calabasas California office.  Evan is a leading real estate loan officer that assists borrowers with challenged credit achieve the American dream of homeownership.  He has over 17 years of experience in real estate mortgage lending and has been licensed by the Calif. Dept. of Real Estate since 1991. Evan attended Cal State University of Northridge and earned his Bachelor of Science Degree in Business with an emphasis in Finance.  For more details regarding work experience, click on the link below to see my profile on www.linkin.com

Low cost efficient model

Our cutting-edge mortgage technology enables us to combine all loan services at a centralized location and to provide consumers mortgage loans from the comfort of their homes. Consumers do not have to leave home to get a loan. Technological advantage also enables us to offer you loans that are always far less expensive than those offered in the marketplace by traditional lenders, real estate agents, brick and mortar outfits, and even most online mortgage brokers.

Wholesale broker lending

We can utilize all of our wholesale lending sources to find you the best rates and loan programs to suit your individual needs. With access to hundreds of lenders, banks and investors, we provide a niche in lending that banks and direct lenders can’t match.  Firstly, a niche for providing the most competitive interest rates relative to cost for conventional loan financing.  Secondly, we provide a niche for loan programs that are “out-of-the-box” and not available thru most lenders and banks.  Thirdly, we provide a niche for 1-on-1 customer service from the opening and thru the closing and recording of your loan. 

Types of Loans & Mortgages

There are literally hundreds of different loan types and features offered with every loan that it can be very confusing when shopping and comparing interest rates and loan programs.

Your interest rate is fixed for the entire term of the loan.  Your payment will never change or fluctuate.  This loan is fully amortized which means that every payment will pay a portion of the principal loan balance down and the loan will be paid off to a zero balance after the final monthly payment is made.  This loan is best suited for one that is receiving a fixed income or one that prefers the security of knowing what their mortgage payment will remain the same.  Fixed rate mortgages are popular among retired homeowners and first time home buyers.  Fixed rate mortgages are also very popular during times when the market trends indicate interest rates are increasing.  Fixed rate mortgage terms are offered in 40, 30, 20, 15 and 10 year terms.  With home affordability getting tougher everyday, Lenders and investors recently developed a 40 year fixed rate mortgage to try and make payments more affordable for first time home buyers. 

ADJUSTABLE RATE MORTGAGE: 

An adjustable rate mortgage is a bit more complex to understand since there are several factors involved that ultimately determine what your interest rate will be month to month or for the next six months depending on what type of adjustable rate mortgage you have.  Your interest rate or "start" rate is usually fixed for a specific time period, for example:  the fixed period may be as short as one month, (Pay Option ARM) to as long as 10 years, 10/1 ARM.  After the fixed period is over, the interest rate must be re-calculated by adding the curret market index plus your margin. 

Just remember this:  The index value is always changing based on certain market fluctuations that are associated with that specific index.  Some common indices available today are:  LIBOR, MTA, COFI, and COSI.