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<\/a>Combining these three programs together to provide the borrowers with very little out of pocket expense was the brainchild of NMLS Licensed Loan Officer, and CalHFA Approved, John Evans of Broadview Mortgage Corporation (BMC).<\/p>\n
The CalHFA first loan is a fixed interest rate mortgage that can be combined with a variety of different down payment assistance programs.\u00a0 The second loan in this deal is the Zero Interest Program, also known as ZIP, which accounts for 3.5% of the total first mortgage loan amount, with zero interest for the whole life of the loan and deferred payments for the term of the loan.\u00a0 Last, but certainly not least, the third mortgage utilized the Extra Credit Teacher Program.\u00a0 Contrary to what the title may suggest, the Extra Credit Teacher Program does not only apply to teachers.\u00a0 All staff and administrators are included under the program as well.\u00a0 This loan has a deferred payment feature also and has interest forgiveness after three years (as long as still employed by the school).<\/p>\n
Mr. John Evans went above and beyond to make this happen for his client by thoroughly assessing his borrower\u2019s financial situation and personal desires to preserve cash while still seeking homeownership. The process was complex and required some thinking outside of the box for Mr. Evans, but now distinguishes him as well as Broadview Mortgage for their expertise in Down Payment Assistance.\u00a0 When asked about the \u2018delightful treat,\u2019 Mr. Evans stated, \u201cThis sets us apart because very few lenders have the ability to offer down payment assistance in a layered approach.\u00a0 There are not a whole lot of banks out there participating in any of these programs, let alone three of them.\u201d<\/p>\n
For the most part, down payment assistance programs are not widely used by lenders as there simply is not a significant amount of financial reward for the lender, which further highlights the fact that Broadview Mortgage and it\u2019s loan officers go above and beyond for their clients regardless of the financial benefits involved in the deal.\u00a0 Broadview Mortgage chooses to seek solutions for those who want to achieve homeownership rather than turn them away, even if that may entail nursing the client through the process for 6 to 12 months to assist in bringing up their credit rating and preparing them for the eventuality of homeownership.\u00a0 Typically, this sort of special attention is hard to come by in the mortgage industry.<\/p>\n
Mr. Evans has been in the mortgage industry for over 15 years.\u00a0 He is a father of 7 and grandfather of 10 with 2 more on the way.\u00a0 He has helped two of his oldest children purchase their first homes and treats his other clients with the same care, minding interests as he would his own children.\u00a0 The overwhelming majority (about 97%) of his business is generated by referrals or repeat business because his clients and close network of Realtors alike have such a wonderful experience working with him.\u00a0 John Evans is one of the top producers at the Broadview Mortgage Katella branch, so much so that he now has his own satellite branch in San Diego.\u00a0 \u201cClients always complement John for keeping them in the know on every step of the process and being an excellent communicator,\u201d says John Krochman, Branch Manager at the Broadview Mortgage Katella Branch.\u00a0 \u00a0You may visit Mr. Evans\u2019 profile and review a few of his client testimonials at:\u00a0 http:\/\/www.broadviewmortgageorange.com\/john-evans\/<\/a><\/p>\n The whole program could not have come together so seamlessly without the expertise of Senior Loan Processor, Teresa Garcia.\u00a0 Teresa has worked in the mortgage industry for over 20+ years with extensive focus on underwriting and loan processing.\u00a0 She has meticulous attention to detail.\u00a0 \u201cWithout a team like Teresa and John, this could never have been a reality for this client.\u00a0 Congratulations to everyone involved in this transaction,\u201d says Krochman.<\/p>\n