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ending is rumored to be difficult. “But it doesn’t have to be,” say Francis Phillips and Jane Burns of First Choice Loan Services Inc. They have the know-how to structure and understand lending guidelines in order to get a loan approval fast with a smooth closing. “People ask how our team of two can have such a large share of the home loan business in Santa Fe. It’s simple,” says Burns. “We provide personal service and attention to detail, complete with years of experience. We ask for minimal documentation and can close quickly because we sell the majority of our loans directly to Fannie Mae and Freddie Mac.” In 2015, Santa Feans voted First Choice one of the six best mortgage companies in the Santa Fe Reporter’s Best of Santa Fe edition. “We were elated to be nominated,” says Burns. “The two of us, along with our national bank team of processors and underwriters, must be doing something right.” As the only child of deaf parents, Phillips interpreted for them and began handling family business at an early age. This life experience formed his ability to help understand and guide clients. He believes understanding clients and their home loan needs is key to success. A combination of common sense, coupled with a thorough knowledge of loan guidelines and personal finance, gives Phillips the ability to structure loans and get them approved. “Let’s say our clients are retired with large assets but drawing little income. Of course they can make their mortgage payments, so we structure their loan accordingly,” he says. “Or take self-employed clients — a big group in Santa Fe — who report little income because they write-off business expenses. We can average their revenue to get them approved. Because Santa Fe is such a magnet, we have many clients in transition. We offer loans for jumbo buyers who may be moving from another state, and re-entry products for those who had a bankruptcy or foreclosure 18 months ago.”
THE FIRST CHOICE TEAM IS KNOWN FOR THEIR COMMITMENT TO THE COMMUNITY
One thing you’ll hear over and over again is that the First Choice team is known for their commitment to the community. They have hosted some memorable events, both for fun and good causes. Favorites include the Kitchen Angels 15th anniversary concert with Bernadette Peters and the Santa Fe Symphony at the Santa Fe Opera, sponsoring Community Days at the Santa Fe Botanical Garden, and funding three Santa Fe Habitat for Humanity homes for local families. Clients are always invited so they too can share and support the fun, giving back to the community together while enjoying our City Different. One party they have planned won’t happen for a few years. “So many people are refinancing to 15 year loans that we’ll have a Free and Clear party at Maria’s in 15 years!” says Phillips. Pausing to reflect, the team agrees they want to leave their mark on more than business. “We come from different parts of the country, but Santa Fe is home,” reflects Phillips. “When we retire, we want to look back and know we not only helped people buy their homes; we made friends. We welcome clients to Santa Fe and celebrate their closings and new beginnings in our beautiful city.” First Choice Loan Services Inc. 1012 Marquez Place, Suite 204A 505.982.3400 fcloans.com/fphillips Francis Phillips’ NMLS #193642 ABOVE: Jane Burns and Francis Phillips PHOTO: Kerry Gallagher COVER STORY
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