This is the compliance page for 1st Choice Mortgage, we have to provide this because the government says we have to, enjoy your reading.
1st Choice Mortgage Company, LLC
Located at 3023 E Copper Point Dr., Suite 101, Meridian, ID 83642
Phone number: 208-375-5626
Company NMLS: 380736
Gerald E. Robinson NMLS: 4475
Kerri J. Wattier NMLS: 182963
Gabe M. McGuire: 1200094
NMLS Consumer access site: www.nmlsconsumeraccess.org
1st Choice is licensed in Idaho and Oregon only.
For informational purpose only. This is not a commitement to lend or extend credit. Information and/or dates are subject to change with out notice. All loans are subject to credit approval. You actualy rate, payment and cost could be higher or lower. If you are refinancing your existing loan, your total finance charges may be higher over the life of the loan. 1st Choice Mortgage is not affiliated with any government agency, to include but not limited to, VA, FHA, HUD, Fannie Mae or Freddie Mac. The material is not from HUD or FHA and has not been approved by HUD or any government agency. Get an offical Loan Estimate before choosing a loan.
For a reverse mortgage...you have even more disclosures:
This general information is NOT a substitution for the advice of an attorney, accountant, and/or financial planner. Before you decide to pursue a reverse mortgage, you should carefully consider your individual circumstances so you can make a wise decision about the most valuable asset you may own—your home. Factors to consider include whether the proposed reverse mortgage is a recourse or nonrecourse loan, whether the loan would have a fixed or adjustable interest rate, and/or the current and projected market value of your home.
The lender will charge an origination fee, a mortgage insurance premium, closing costs or servicing fees for the reverse mortgage, all or any of which the lender will add to the balance of the reverse mortgage loan. The balance of the reverse mortgage loan grows over time and the lender charges interest on the outstanding loan balance.
At the conclusion of the term of the reverse mortgage loan contract, some or all of the equity in the property that is the subject of the reverse mortgage no longer belongs to the person and the borrower may need to sell or transfer the property to repay the proceeds of the reverse mortgage from the proceeds of the sale or transfer or you must otherwise repay the reverse mortgage with interest from other personal assets. In order to retain the home when the reverse mortgage becomes due that (1) the consumer or the consumer’s heirs or estate must pay the entire loan balance and (2) the balance may be greater than the value of the consumer’s home.
The consumer retains title to the property that is the subject of the reverse mortgage until the person sells or transfers the property and is therefore responsible for paying property taxes, insurance, maintenance and related taxes. Failing to pay these amounts may cause the reverse mortgage loan to become due immediately and may subject the property to a tax lien or other encumbrance or to possible foreclosure. Interest on a reverse mortgage is not deductible from the consumer’s income tax return until the consumer repays all or part of the reverse mortgage loan
WOW, if you really read through all of this, you deserve a prize, but the government also restricts me in that as well, sorry.
