2023 Toys for Tots Toy Drive – A Heartfelt Thank You from First Meridian Mortgage and Kevin Retcher

We at First Meridian Mortgage, along with myself, Kevin Retcher, are immensely grateful to everyone who contributed to the successful 2023 Toys for Tots campaign. Your generous donations, whether in the form of toys or cash, have made a significant difference.

Special thanks go to:

• Our dedicated employees, particularly Beth Nelson for her creative T-shirt designs.
• Our supportive friends and family for their invaluable time and effort.
• The local businesses that played a pivotal role in our campaign’s success.

Our Esteemed Community Partners:

• First Meridian Mortgage 8305 Richmond Hwy 12A, Alexandria, Virginia 22309 Business Hours: Mon-Fri, 8:30 AM – 5:00 PM (Weekend appointments available with 30 min notice)
• Results Fitness 7770 Richmond Hwy, Alexandria, VA 22306 Business Hours: 4:30 PM – 11:00 PM
• Bodnar Chiropractic 6969 Richmond Hwy, Alexandria, VA 22306 Business Hours: Mon – Fri, 8:30 AM – 12:00 PM, 3:00 PM-7:00 PM
• The Green Turtle 7979 Heneska Loop, Alexandria, VA 22315 Business Hours: Daily, 11:00 AM – 12:00 AM
• Burtons Grill 6452a Old Beulah Street, Alexandria, VA 22315 Business Hours: Sun – Thurs, 11:00 AM – 9:30 PM; Fri – Sat, 11:30 AM-10:30 PM
• Fair Winds Brewing  7000 Newington Road, Lorton Va

The Green Turtle, our gracious host for the main event, provided the perfect backdrop for a festive gathering. With live music from Q and Friends and DJ Marcus, the event was not just entertaining but also a powerful platform for community contributions. Thanks to these collective efforts, we managed to collect and purchase over 712 toys for the 2023 Toys for Tots.

Once again, thank you for your support and generosity.

Sincerely, Kevin Retcher owner First Meridian Mortgage 703-799-5626

$5000 Grant for First Time Homebuyers

HOMEREADY^® SPCP

Help more first-time homebuyers achieve homeownership with the HomeReady Special Purpose Credit Program. You can receive $5000 toward your down payment with this program and there is not a restriction on your income.  There is also not restriction on the down payment from 3% – 20% down. This is a rare opportunity based on these current guidelines.

• Borrowers receive
  • $5,000 grant
  • Up to $500 toward a 1-year home warranty
  • Up to $500 toward appraisal costs
• Borrower’s current primary residence must be located in an eligible census tract. Click here to see the list of Metropolitan Statistical Area (MSAs)
  • To search a borrower’s current primary address and check for eligibility, client must be First Time homebuyer.
• An LO Survey must be completed on each loan

Loan must be run through DU and receive a message ID 3673 for full eligibility. Full loan application will need to determine if client qualifies.

Call me for more details 703-799-5626 or you can txt me your address at  703-201-6138 and i can check availability.

*Lender has the right to suspend SPCP programs at anytime.

First Meridian Mortgage is an Official Drop off for Toys for Tots

First Meridian Mortgage is proud help to be an Official Toys for Tots Drop off and collection site for new, unwrapped toys for the 2023 holiday season. The Toys for Tots program is ran by the Marine Corps Reserve foundation.

About Toys for Tots –

Toys for Tots, a 74-year national charitable program run by the U.S. Marine Corps Reserve, provides happiness, and hope to less fortunate children during each Christmas holiday season. The toys, books, and other gifts collected and distributed by our Marines and volunteers during the Christmas season offer these children recognition, confidence, and a positive memory for a lifetime. Toys for Tots also provides support year-round to less fortunate families experiencing challenges and exceptional circumstances, thus sending a message of hope beyond the holiday season. It is such experiences that help children become responsible citizens and caring members of their community. Last year, the Marine Toys for Tots Program fulfilled the holiday hopes and dreams of  7.4 million less fortunate children in over 800 communities nationwide. Since 1947, over 272 million children have been assisted. The Marine Toys for Tots Foundation is a not-for-profit organization authorized by the U.S. Marine Corps and the Department of Defense to provide fundraising and other necessary support for the annual Marine Corps Reserve Toys for Tots Program. For more information, please visit www.toysfortots.org.

Drop Off location :

First Meridian Mortgage

c/o Toy for Tots

8305 Richmond Hwy 12A

Alexandria VA 22309

Link to other drop off sites

My personal Connection to Toys for Tots

In 1986, at the age of 18, I found myself stationed at the 8th and I Marine Barracks. On a special assignment, I served as the driver for a 5-ton cargo truck, dressed in my sharp Dress Blues, heading to the Mad Hatter to represent the Marine Corps Toys for Tots program. Spending a few hours at the event, I collected around 50-60 toys, which seemed pretty cool to me at the time. It’s important to note that, being just 18, I was still a kid myself.

It wasn’t until the end of the night, when I backed the truck up to the warehouse for unloading, that the true impact of our efforts hit me. With the help of another Marine, we opened the warehouse doors, and to my surprise, I saw a towering mountain of toys, reaching about 40 to 50 feet high. It was then that I realized the significant difference we were making in bringing joy to countless kids on Christmas day.

While I understood that some Toys for Tots runs were mandatory, many, like mine, were volunteered. The experience was profound, and as an 18-year-old, I couldn’t express enough the joy it brought me to be part of such a meaningful program.

Now, as a Marine and a proud veteran running my own business, I am honored to be an official Drop Off location for the Toys for Tots Program. I urge everyone to consider contributing by dropping off or sending a new, unwrapped toy—it’s a small gesture that can make a big difference in a child’s life.

Kevin Retcher

We also have a large network of Real Estate Agents that we would love to refer you to. Some have special offers for clients of First Meridian Mortgage.

FHA Lowers Mortgage Insurance

On February 22, 2023, the Federal Housing Administration (FHA) released Mortgagee Letter 2023-05, announcing several changes to its mortgage insurance premiums (MIP) for new FHA-insured mortgages. These changes are expected to significantly reduce the monthly payment for borrowers and make homeownership more affordable for more Americans.

The most significant change is the reduction in the annual MIP for most FHA-insured mortgages from 0.85% to 0.55% of the loan amount for borrowers who put down at least 3.5% of the purchase price. This means that borrowers will pay a lower amount each year towards their mortgage insurance, resulting in a lower overall monthly payment.

New FHA Loan Limits for 2023

Additionally, the FHA announced an increase in the maximum loan limit for FHA-insured mortgages. The new loan limit is $472,030 for most areas, with higher limits for high-cost areas. The FHA loan limit ceiling for high-cost areas with exceptionally high home values is $1,089,300. These loan limits apply to single-family homes and are subject to change annually based on changes in median home prices. You can find the new loan limits by clicking on the resource section to find the link to fha loan limits.

Using the example of a borrower with an annual income of $100,000, a monthly debt payment of $400, and a DTI ratio of 48%, these changes could have a significant impact on their ability to afford a home. Assuming a 3.5% down payment and a 30-year fixed-rate mortgage with an interest rate of 5.625%, this borrower could potentially afford a home priced at $467,500 vs $450,000, or save approximately $108 per month.

In summary, the changes announced in Mortgagee Letter 2023-05 are expected to make homeownership more affordable for more Americans, especially those with lower down payments and higher debt-to-income ratios. Borrowers should consult with their lenders to determine how these changes may impact their specific situation.

See announcement

Call Kevin Retcher for more details. We originate all our FHA Loans at 1% lender paid compensation which is one of the lowest in the DMV. First Meridian Mortgage believes that FHA home ownership should be affordable. Click here for live rates. 

To schedule an appointment please fill out the questions on the Getting started page, this is not an application, but just to get a returned call, or call 703-799-5626.

Protect your Privacy – Prescreen Offers and the Do NOT Call List

Opt-Out Prescreen before you Apply

Protect your Privacy! Are you thinking of getting pre-approved? Kevin Retcher, owner of First meridian Mortgage and KSA Insurance Agency says, “Before you call First Meridian Mortgage or any other lender, you should consider opting out of prescreen offers otherwise known as Trigger Leads.” Why you ask? If you apply for a mortgage and are not on the opt-out list, the 3 major credit bureaus—Equifax, Transunion, and Experian—will sell your contact information to anyone that will buy it based on the fact you had a mortgage credit report pulled. While I believe competition is great—privacy is better.

For a free Flyer on how to opt out click www.firstmeridianmortgage.con/optout.pdf

Lack of Privacy if you have not Opted Out

The bureaus will sell your name, email, credit scores, every phone number, and addresses on file. They do not just sell these to one person. They will sell that information to as many clients as they can. First, you will start to begin to receive phone calls, then texts and notifications all hours of the day for about a week. In a particular case, one client of mine had received a combination of 94 texts, emails, and unwanted calls after two credit pulls. Keep in mind if you get pre-approved with more than one lender on different days, you are now on multiple lists and the process starts all over again.

A key note is that many of the text or emails misrepresent their sender, or try tricking you into thinking they are the lender you applied with. They often use verbiage that try to solicit or make you responding/reapply. 

The only argument to accepting this torture is that if one of the multiple calls or numerous emails would result in a deal better than the one provided. However, I would argue that the trusted referral, repeat service, and research done on line will be a better choice than the random company with high pressure sales tactics.

What are Trigger Leads

Trigger leads are the bureaus making money by selling your information. It begins when you have someone pull your credit for a variety of reasons. They then sell that information to as many clients that will buy it. This practice has gotten worse as the business has slowed. The average cost of a credit check for a pre-approval has tripled in recent months to an average of $125 for married couple and $65 for a single client with three credit bureaus. It is cheaper for a client to buy trigger leads than to actually do the work. Money for them, unwanted calls after a credit pulling for you.

Stop Trigger leads, Stop Selling my information 

The FCRA provides you the right to “Opt-Out”, which prevents Consumer Credit Reporting Companies from providing your credit file information. You can Opt-Out and protect yourself here. The consumer has three options:

• Opt-IN (which I cannot suggest)
• Opt-OUT for 5 years (phone and email)
• Permanent Opt-Out of Mail

You will need your name, address, SSN and DOB to Opt-Out. The biggest reason to submit to the list is the fact that senders are using your personal data as a product without your permission.  They do not monitor the ways the info is used, nor know the legitimacy or reputability of the offers. They are only in it for the money! They are searching for the highest bidders, opening you up to lost time, potential scams, and potentially more costly deals.

DO-Not-Call List or National Do not Call Registry

The National Do Not Call Registry is a list of phone numbers from consumers who have indicated their preference to limit the telemarketing calls they receive. The registry is managed by the Federal Trade Commission (FTC), the nation’s consumer protection agency. It is enforced by the FTC, the Federal Communications Commission (FCC), and state officials.

For FAQ on the Do-NOT-Call List, click here.

Registering will not keep bonified business relationships from being able to contact you (they are allowed to continue for up to 18 months), but it will keep a number of solicitations to a minimum.

Will the Registry stop ALL unwanted calls?

No. The Do Not Call Registry stops sales calls from companies that do not have a previous established relationship with you. The Registry provides a list to telemarketers detailing what numbers they are not supposed to call. The FTC does not and cannot block calls—that is not what they do. Furthermore, the Registry cannot stop calls from scammers who ignore the Registry.

One reason people get a lot of unwanted calls is because it’s easy and cheap for scammers to call people anywhere in the world. Skilled in masking their calls with local numbers, scammers can make it difficult for the consumer to identify them. To get fewer unwanted calls, read the Federal Trade Commission’s article. Between cell phones, landlines, and home phones with access to internet (VoIP), there are different call-blocking and call-labeling options to implement.

You can find a list of some call-blocking and call-labeling apps for cell phones at ctia.org, a website for the U.S. wireless communications industry. For company-specific information about blocking calls on landlines and phones that use the internet, go to the FCC’s Call Blocking Resources.

Register on the National Do Not Call Registry

It is simple and easy to Register 

All you have to do is to go to DoNotCall.gov

• Click Register my phone
• Then you can verify your Registration also
• This only take a minute or two to do.

Protect your Privacy

Kevin Retcher, the owner First Meridian Mortgage and KSA Insurance Agency takes privacy seriously. If time allows to Opt-Out and access the Do-Not-Call list, then you should do it. If the perfect house is on the market and you do not have 7-10 days for the lists to update, then it is ok to move forward, but just be aware that you will be potentially receiving a lot of unwanted, and unsolicited notifications from strangers. The higher the score, the more calls you are going to get. If you would like more information or want to get preapproved call 703-799-5626.