Who is your typical customer and what questions do they typically have?
Typically, my customers are millennials buying or refinancing their first home. A typical question that they would have always has to do with Interest Rates. How is my interest rate decided and how can I get the lowest rate? Most first time home-buyers don’t understand how interest rates are decided. That is why I stress the importance of education throughout the process and take the time to make sure borrowers understand the process. It leads to more confident financial decisions which is ALWAYS a good thing.
What specific steps do you use to help your customers find the best home loan for them?
When deciding which loan product to use it is important for me to understand my clients goals for the home & for the future. A question that help me narrow down their goals include: How long do you plan to own this home for? This question allows me to advise my clients based on which product will fit their specific goals. For example, if they plan to sell in the next 3-5 years then a lower interest rate ARM may be more appropriate. However, if the client has found their forever home then we need to make sure we shape the product to be productive for the long term as opposed to saving money upfront.
What advice would you give new or first time home buyers?
When working with first time home buyers I see a common mistake made repeatedly. Typically, a first-time home buyer will seek out a realtor first and then wait until they find a home or later in the process to get pre-approved. However, this can give a borrowers unattainable expectations on what homes they can afford. It is always better to meet with a mortgage professional first to get pre-approved on a loan amount with payments that you feel comfortable with.
What are the top 3 misconceptions people have about the home loan process?
3 misconceptions people have about the home loan process: 1) People believe they are being productive while shopping rate. However, often times clients don’t understand how rates are determined and how long they are accurate for. Without complete information of Cash, Credit, Income, Assets, it is impossible to give an accurate quote. 2) Loan officers get to set their own fees. This misconception is really inaccurate due to changes made by Dodd-Frank to stop unwarranted fee’s from occurring. It also leads to mistrust between clients and Mortgage Professionals who need to work in complete honesty and transparency to ensure the client gets the best deal possible! 3) The loan process is long and strenuous. This is a misconception from an older era of home loans. Our goal at Guaranteed Rate is to be from RESPA (application date) to CTC in 10 days. Often times outside factors like appraisals make this hard to accomplish. However, with proactive borrowers and our digital platform, GR is making it possible to get people homes faster than ever with less of a headache.
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
I am active in many different volunteer and fundraising organizations around the community. I am most active in two activities: 1) Movember which spreads awareness about men’s Physical and Mental health with a specific focus on prostate cancer testing. This charity hits very close to home for me and is one that I have now participated in for the last two years. My team has grown the last two years from just a few of us to over 10 members! One of our goals was to have a community event to not only raise money but start the conversation of men’s health in our own local community. We set the goal of bringing 50 people together to do just that. In Late November we had our first even and had a turnout of 61 people and it is something we plan on doing annually to keep the conversation going!
Tell us something that makes you unique or something wacky, yet interesting about you?
I am a sports fanatic! I love all sports though and I would choose to have an experience over a material thing 9/10 times. I can be found regularly at Seahawks, Mariners, and Sounders games!