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Understanding Your First Home Mortgage: An Interview with Tim Ray of Premier Choice Mortgage

By Tim Ray

Knowing where to start when it comes to mortgages, especially your first one ever, can be so cumbersome you just have to enlist in help. So that's exactly what we did. We interviewed Tim Ray of Premier Choice Mortgage and got insider advice when it comes to the mortgage process.

Applying for a Mortgage: Where to Start?

When applying for a mortgage, you first need to fill out an application. You can do that in person or on our website. We then immediately schedule a meeting with you to go through your goals in obtaining a mortgage. We analyze your options and review those with you. Then, together, we plot the best course of action.

Steps to a Home Mortgage:

  1. Application
  2. Review and Signing Initial Disclosure
  3. Locking the Loan
  4. Sending Mortgage to Lender
  5. Home Appraisal
  6. Clearing Lender Conditions
  7. Pulling Closing Documents
  8. Signal Final Documetns
  9. Funding the Loan
  10. This link contains a great flow chart of this info:

    What Influences Your Mortgage?

    Three factors influence any mortgage the most, regardless of being a first time buyer or not:

    1. Credit
    2. Income
    3. Assets

    If you have all three of those then odds are you'll qualify. If you have two of three, then you may still qualify. If you have one of the three, then you will most likely not qualify. This is probably a bit over-simplistic, but it will hold true more often than not.

    Tips from Premier Choice Mortgage:

    >>If you are applying for your first home, the best thing you can do is find a company like ours who will walk you, hand-in-hand through the process. The lending process doesn't have to be overwhelming and painful. We make it smooth, predictable and understandable. You also need to get pre-approved for the mortgage before you start looking for a house. Make sure you know what you can afford, and that you're approved for that. This means filling out an application and meeting with us to discuss your options. The worst thing you can do is look at homes you really can't afford; reality is a bitter pill to swallow there.

    >>One thing's for sure: lending is difficult in general and often the lender isn't looking out for anybody but themselves. So any borrower, whether a first or tenth time home buyer, needs somebody watching out for their interests more than they are a commission check, which is why it's important to work with a company like ours who will fight for your best interest

    >>Make sure you're working with a company you trust is working hard and diligent for you. So many of the nightmare stories we hear from our clients coming from other companies, or past experiences, could have been avoided. When a company like ours is completely referral based, they will do everything they possibly can to make sure you're happy. Otherwise, they'll be out of business. Take the time upfront to find the place for you. We're biased, but we believe nobody does it better, and we'd love to earn your trust.

    We have some great resources on our site for first time buyers. You can search through our site for numerous things within. But some tools for you can be found here:

    About Premier Choice Mortgage:

    Premier Choice Mortgage, home of the 2 Bald Mortgage Guys, was founded in 2002. We like to tell our story of why we started the company through the eyes of Forrest Gump. Remember that movie? Well his Mama said, "Life is like a box of chocolates, you just never know what you're gonna get." This has proven over the years to be a fitting, and unfortunate, analogy for our profession. You just never do quite know what you're gonna get when working with a mortgage company.

    Or at least that's what you're led to believe. It doesn't have to be this way, and this is foundational to what we set out to do back in 2002 when we started the company.

    There is no doubt the mortgage process itself is filled with uncertainty, to a degree. However, when you work with a team of experts who will educate, communicate, and help you understand and anticipate every step, it makes the process quite predictable.

    Just like printing the name and picture of each chocolate on the back of the box takes away the guess work, so too does working with a team whose greatest goal it is to provide you with legendary service. So our commitment to you today is what it was back in 2002. We will do all we can, through our exceptional systems, comprehensive experience and unparalleled service, to take as much uncertainty out of the process as possible so you can rest easy and actually enjoy getting a mortgage.

    What Does Premier Choice Mortgage Aim to Do?:

    We believe to keep customers today, you can't be content to merely satisfy them; you have to give them legendary service and create 'raving fans,' or customers who are so excited about the way you treat them that they tell stories about you. So our mission is simple, we want to make raving fans out of every person we meet.

    Services Premier Choice Mortgage Provides:

    Like most lenders today, we offer a wide range of lending options/programs. FHA, VA, fixed loans, first-time buyer loans, etc., we offer them all. But what's always most important when it comes to any loan program is figuring out which one is the best option for you personally. Therefore, we meet with people upfront to help them determine the best course of action. Because sometimes the best course of action is to do nothing at all. We want to make sure our clients are protected and taking the right steps. We are like pit bulls when it comes to looking out for our client's best interest.

    Premier Choice Mortgage Contact Info:

    • Call us at (505) 830-9685
    • Email us at
    • Or visit our website at
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