Individual DRE #01477745 | Individual NMLS #244111
Learning Center
Straightforward explanations of the things that cost people money: credit, down payments, closing costs, rate locks, refinancing and pricing a home to sell.
Guides
First-Time Buyers
Several loan programs are designed for buyers with smaller down payments. Whether to buy now or keep saving depends on your affordability, credit, savings, mortgage insurance and current market conditions — not on hitting 20%.
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6 min read · Updated October 20, 2026
Credit
Understand how card balances, reporting timing and account changes may affect your credit, why mortgage scores can differ, and when to discuss your options with a mortgage professional.
Read the guide
5 min read · Updated October 20, 2026
Costs
Closing costs vary depending on the loan program, property, lender, and transaction. They typically include origination, appraisal, title, escrow, recording, and prepaid taxes and insurance. Seller credits can offset some of them.
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6 min read · Updated August 3, 2026
Rates
A lock protects you during processing but costs more the longer it runs. Points only pay off if you hold the loan past the break-even month.
Read the guide
5 min read · Updated August 3, 2026
Refinancing
Refinancing can lower a monthly payment and still raise total interest. Weigh the new rate, balance, closing costs and repayment term.
Read the guide
5 min read · Updated October 21, 2026
Reverse Mortgages
Explore HECM home-equity and purchase options for eligible borrowers 62+, including payment obligations, growing loan balances, repayment events and protections.
Read the guide
7 min read · Updated August 3, 2026
Selling
Homes priced above the comps sit, go stale, and eventually sell for less than if they had been priced correctly on day one. Days on market is the enemy of your net.
Read the guide
5 min read · Updated August 3, 2026
Self-Employed
Bank statement and asset-depletion programs can qualify you on deposits or reserves rather than adjusted gross income. Documentation matters more than the write-offs.
Read the guide
5 min read · Updated August 3, 2026
Escrow
Inspection, appraisal, loan conditions, title work, insurance, final walkthrough and signing — with the deadlines that matter and what happens when one slips.
Read the guide
6 min read · Updated August 3, 2026
Tools
Reading about payments helps. Seeing yours helps more. The calculators estimate a full monthly payment including taxes, insurance and mortgage insurance.
Questions
Yes. Send me your question by text, email, or the contact form and I'll answer it directly — no application required.
I do one-on-one walkthroughs that cover the same ground as a class, tailored to your income, credit and target neighborhoods.
Every situation is different. Tell me what you're planning and I'll map out the numbers, the timing, and the options — with no pressure.
First Choice Mortgage & Real Estate, DBA of First Choice Mortgage Inc. Corporate DRE #01494531 | Company NMLS #245058.
Patti McCormick — licensed as Patricia Luise McCormick. Individual DRE #01477745 | Individual NMLS #244111.
Main office of record, as listed with the California Department of Real Estate (individual license #01477745): 9431 Haven Ave, Ste 523, Rancho Cucamonga, CA 91730.
