How long have you been in the mortgage business and what inspired you to get into it?
I have been in the mortgage industry for 17 years. Honestly, I kinda fell into it but very early on I discovered that helping my clients purchase a home for their up and coming, or current family is one of the great joys of my life.
Who is your typical customer and what questions do they typically have?
My customer's range form seasoned investors to first time home buyers. Everyone's situation is different. However, my approach is to give the client all the information up front so they can make the best decision possible.
What specific steps do you use to help your customers find the best home loan for them?
The best approach to help my clients find the best home loan for them is simply to listen. My job is to listen to the clients goals and plans in their life in order to suggest the right loan options for them.
How long have you been in the mortgage business? What awards have you won?
I have been in the mortgage business 17 years. I have been in the top 1% for years and have reached presidents club level within Guaranteed Rate.
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
Although every client is different. The general rule is if your plan is to stay in the home 5-7 years, the ARMs might be the best way to go. If not, the 30 year fixed if always there. Listening to the clients goals and plans is what determines my advice on this issue.
Tell us about a specific challenging borrowing situation and how you got the mortgage closed and funded.
There are a lot of challenges that can arise throughout the process. My job is to anticipate those situations upfront and address them. When that is done up front the challenges that sometimes occur in underwriting are avoided.
What advice would you give new or first time home buyers?
My advice first and foremost is have fun! This is the biggest investment of your life yes, but it's also your new home so enjoy the process. I like to spend even more time with first time home buyers up front. Taking them through how the entire process will work, picking the right program for their needs and lastly going over all the cost associated with the loan. I have found that when that is done properly up front, the buyer is put very much at ease and can enjoy buying their first new home.
Tell us about a mortgage product that consumers may not be aware of?
Fannie Mae has released a new first time home buyer program where you can put just 3% down. It's a wonderful program that people should be aware of.
How has the mortgage industry changed since you started, and what would you expect in the future?
When I stared there were a lot more products available. There were programs where you didn't have to show really any financials at all. Whether you look at that as good or bad it's no longer offered. I think showing/proving that you are qualified to buy the home you want is a good thing. I think in the future that will continue.
What part of the home loan process do customers find most difficult and how do you help them through it?
I think understanding and gathering the financials that the underwriter will need to look at is the most cumbersome part. It's very important for me to go over in detail what is needed and why. It's important for me to educate the client on what the underwriter will be looking at in order to reduce the need to keep requesting more documents throughout the loan processing.
What are the top 3 misconceptions people have about the home loan process?
Number one, people think they can't qualify for a loan. There are all kinds of programs out there to take advantage of. Yes, you do have to qualify but between all the programs we can typically come up with options. Second, It's to cumbersome or time consuming. Our online application and digital mortgage make it a breeze to get through the process. Believe me, I have been doing this 17 years and it's a much better process now. Lastly, that getting a mortgage is stressful. Yes, I know there is always a little stress with a big purchase. However, if I do my job and we pick the right product, keep the payment at the right level, and you know the whole procedure and cost up front. It's my hope you can have a little fun purchasing your new home.
What can borrowers do to ensure a smooth mortgage underwriting process?
The number one thing I tell my client is to give me all the information I requested right away. If we can review documents up front then it makes the whole process clean. We are also working on a timeline with your rate lock on a refinance or purchase contingency date or closing date.
What provides you with the most satisfaction in your job as a Loan Officer?
I love to go to a first time home owners closing and see the look on there face when the keys are handed over to them. I try to take pictures with all my clients after that happens and it's great to see all the smiling faces.