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  • 1st Time Home Buyers

1st Time Home Buyers
Loan Originator (13 years experience)

Specialties:

Purchase Loan, Refinancing

Add personality to your profile! Tell the community about yourself, your home, and your profession.

I'm Lora Coscia, a MD Licensed Mortgage Loan Officer at 1st Preference Mortgage in Perry Hall, MD. 1st Preference Mortgage is celebrating it's 20th year serving the community! We are the FHA 203k specialists (rehab& rehabilitation purchases& refi's).We have a weekly radio show, The Underwriter's Corner on 680AM WCBM, it's on every Tuesday at 6:10pm. Please, take a listen, and if you're inclined to call please ask forme or Anne (we're there every week taking calls).

REASONS YOU SHOULD CONSIDER MY SERVICESAs a direct LENDER for Conventional, VA and FHA there's no "middle man" between you & I.We have in-house processing and underwriting. This means that your loan never leaves my building, we are all in one place. There's no shipping your package somewhere else to be processed or underwritten. And, if for any reason there's a problem to be resolved, the underwriter is at my disposal.We are a DE (Direct Endorsed) lender with FHA & VA. We can provide you Streamline Refi's for FHA, FHA 203K (rehab) purchases and refi's, Reverse Mortgages, and standard refi's and purchases for FHA or VA.We are an approved lender for MD's 1st Time Buyers Program.We are an approved lender for MD's Lifeline & HomeSaver refi programs.We are a member of the Mortgage Bankers AssociationWe're able to originate loans in MD, DE, PA, VA, SC, NC, GA, FL, and TXWe'reaccessible 7 days a week 10am-10pm.MY TYPICAL DAY
My mother Anne works with me on a daily basis. We are a "Mother & Daughter Team"! She's been in the real estate industry for over 20 years and it's been a great asset for this part of the business!We don't sit at a desk Mon-Fri 9am-5pm, so you're able to reach us 7 days a week 10am-10pm. You can usually find us in a Realtors office taking a loan applications, developing relationships with Realtors and servicing our customers. Because we are 100% Commissioned, we rely heavily on referrals from Realtors and satisfied customers. They usually find our work exemplary, we gain their trust, confidence and loyalty for future referrals.A FEW DETAILS OF MY PROFESSIONPurchases-The best reward ishelping someone become a homeowner after they originally thought they couldn't! The MD 1st Time Buyers Program is an excellent choice for someone who has good credit, and doesn't want to use all their own funds to purchase a home. Depending upon the scenario that you choose, youmay beable to get back any upfront funds used for the new purchase.Of course, I also originate Conventional, FHA, andVA purchases. Only 2.25% is required as a downpayment for a FHA purchase and it can be gifted! Some specialty programs are available such as Stated Income, NINA, etc., but excellent credit is a must!Refinances-Conventional...There are some that use cash-out, and some that do not depending on ones' needs. If someone can increase their monthly cash flow and I can help, I'm glad to do it!FHA...You are able to have a LTV (loan-to-value) of 95% for Cash-Out transactions. You're also able todo a Streamline Refi, if you currently have an FHA loan and you only need to reduce your rate or term.VA...Many Veterans like to use this program to purchase a home because the Seller can pay ALL the closing costs and they don't have to put any money down! Refi's have different guidelines for VA loans and may not benefit the borrower.Reverse Mortgages...Used by borrowers 62 and older to relieve their mortgage payments and retain their home. Borrowers have a few options with Reverse Mortgages; pay off home and NEVER have a payment as long as you live in the home, pay off home and have a MONTHLY INCOME, or pay off home and have a Line Of Credit available to you if you need it!FHA JUMBO LOANS now available too!Limits vary according to counties.
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Ratings & Reviews
- Highly likely to recommend
05/05/2008 - scorpiogirly
Gave me a quote on Zillow, but it did not work out. Darryl Gardens, White Marsh, MD 21162
When I spoke with her she was very helpful, and very explanatory of my options. I like that she is understanding that I don't do this everyday, and she didn't talk "above my head". I'm glad that I got in touch with her, she makes me excited to get out there and see what's in my budget!!!!
Response from

 

- Highly likely to recommend
04/29/2008 - bassin ron
Gave me a quote on Zillow, but it did not work out. Overlea, MD 21236
I wasn't even aware that MD had a grant program available for 1st time buyers! Lora provided accurate, honest information and I'm looking forward to buying my first home AND being able to keep some of my savings intact. I've already recommended her to a few of my friends who want to buy their first home too! I've always heard of buyers getting money back at closing but always thought it was a sham, now I know how to do that using the program Lora recommended. I'm amazed and overwhelmed but excited to get moving now!  MoreLess
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Professional Information
1st Time Home Buyers
Address:
1st Preference Mortgage Corporation
9423 Belair Road
Baltimore, MD  21236
Phone:
Email
Advice posts:
13
Screen name:
1st Time Home Buyers
Member since:
08/05/2006
NMLS #:
N/A