Prospect Mortgage Sr Loan Officer in Warwick, Rhode Island
A Wide Range of Lending Needs
As a licensed Prospect Mortgage Sr Loan Officer in Rhode Island (NMLS #79078), Rita can assist you with your home loan needs, including:
- First-Time Purchase
- Second-Home Purchase
- FHA and VA
- 203(k) Renovation
Rita welcomes the opportunity to serve your needs with quick and accurate real estate financing advice. Rita has the expertise and knowledge, and will make sure you understand the features associated with the loan program you choose and that it meets your unique financial situation.
Contact Rita Valcorba Anytime
Feel free to contact Rita anytime by phone or email for personalized service and expert advice. Rita will extend the same professional service to your friends, family members, work colleagues or neighbors who need help.
Rita Valcorba is 203(k) Renovation Lending Certified
Rita is certified in 203(k) Renovation Lending, a program particularly well suited for buyers of fixer-uppers and REOs in need of repair. Homebuyers can finance both the purchase and future repairs on their new home with one loan.
The Renovation Loan offers some great features. The amount of money you are permitted to borrow for the purchase and renovations is based on the increased value of your home after improvements are made1. Also, because renovation costs are spread throughout the entire term of the loan, monthly payments are often lower than other financing options. With the loan, there is also no need to delay improvements. You can start in immediately after closing. Another great feature is the loan's simplicity - one application, one set of fees and closing costs, one closing to attend and one payment each month. The interest on the cost of your improvements, included in your mortgage, may be tax deductible2 as well.
Rita values your business and will provide you with the best professional service and mortgage solutions that make most sense for you and your unique financial situation and real estate goals.
Please contact Rita Valcorba by phone, email or filling out the pre-approval form on the right to get more information about our Renovation Loan, or any other mortgage financing solution. I look forward to working with you!
1For 203k purchase transactions the maximum loan amount is the lesser of the sales price + renovation costs or 110% of the as-completed value, times the maximum loan-to-value. For refinance transactions the maximum loan amount is the lesser of the property value before renovation + renovation costs or 110% of the as-completed value, times the maximum loan-to-value. Loan amount must be within FHA county loan limits.
For HomeStyle® purchase transactions the maximum loan amount is based on the lesser of the sales price + renovation costs or 100% of the as-completed value, times the maximum loan-to-value allowable. For refinance transactions the maximum loan amount is based on the lesser of 1) 100% of the as-completed value times the maximum loan-to-value or 2) the balance on the existing loan plus the renovation cost plus the settlement costs. The maximum repair amount is limited to 50% of the as-completed value. HomeStyle® is a registered trademark of Fannie Mae.
2Please consult a tax advisor for further information regarding the deductibility of interest and charges.
What are people saying about Rita Valcorba?
"Rita Valcorba with Prospect Mortgage in Warwick, RI was my Loan Officer. This is the second time in 2 years that Rita has assisted me with a mortgage application. She is the ultimate professional!!! Rita is knowledgeable, personable and always treated me with respect. She did her best to make the process as easy as possible and her response time to phone calls, text messages and e-mails was always prompt. I was kept informed on a timely basis throughout the entire application period through to closing. I wouldn 't hesitate recommending Rita to other potential home buyers. Rita 's a true gem."
- Hollis F., Bristol, RI
"Rita Valcorba is one of the most amazing people I've had the pleasure of knowing. She has guided, informed, educated, instructed and supported myself and my husband. This process requires an educated and informative individual to WALK you through this journey and she did so with such commitment, I know she cares. I am forever grateful to Rita. Taking calls after hours, answering questions I asked probably 10 times before and so gracefully :) Rita is a credit to Prospect Mortgage and I would highly recommend her 1billion %. Kudos to Prospect Mortgage for having such a wonderful person on "our" team!! "
- John L., Northbridge, MA
"Rita was FANTASTIC. She was very helpful, knowledgeable, kind, courteous and a pleasure to work with. "
- Gwen D., Burrillville, RI