How long have you been in the mortgage business and what inspired you to get into it?
I have been in the mortgage business for just over 8 years. I got into the business because I have an extensive background in real estate investing and thought it would be a great compliment to that experience.
Who is your typical customer and what questions do they typically have?
My typical customer is a first-time home buyer, and occasionally move up buyers. Their questions are usually about what’s involved in getting a mortgage, what will it cost, and how long will it take.
What specific steps do you use to help your customers find the best home loan for them?
Finding the best home loan for a customer is my favorite part of the process. During this phase it’s all about asking the customer questions to understand what their specific financial goals are. It’s much more than just getting the lowest rate or payment. I really like to dive in and understand what my customer’s plan is for the future.
How long have you been in the mortgage business? What awards have you won?
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
The biggest advantage of a fixed rate mortgage is no future interest rate risk. The borrower is guaranteed the same rate and payment for the life of the loan. The disadvantage is that the rate and payment will be higher than an ARM. Wealthy folks tend to use ARMs more than fixed rate mortgages as ARMs have a lower monthly payment. Borrowers can use those extra funds for anything. I recommend investing the funds conservatively. It’s a smart way to build wealth. After a few years, or when the fixed rate period is over, there should be a nice sum of money to enhance the options a borrower has.
Tell us about a mortgage product that consumers may not be aware of?
I’m really excited about 5/5 ARMs offered by a few banks. The rate on these mortgage is fixed for 5 years initially, then again for another 5 years. This differs from most ARMs that are adjustable annually after the initial fixed rate period. I really look forward to learning more about them.
What can borrowers do to ensure a smooth mortgage underwriting process?
The best way to insure a smooth mortgage process is for borrower to trust their loan officer and provide requested information quickly. A good loan officer will outline the entire process upfront, so the customer knows what to expect and when. Of course, documentation is the key these days. I tell customers that every piece of information they provide on the application will have to verified with documentation. So, I prepare them to be ready to upload lots of documentation. Fortunately, most of the things we need are available online and easily accessible.
Summary of where you grew up: family, affiliations, college, high school, etc.
I was born and raised in Reno, NV. I attended only 4 schools, and they are all in Reno. In 1989 I received my BS in accounting from The University of Nevada, Reno. That year I was president of the Tau Kappa Epsilon Fraternity. Even though my husband and I don’t have any kids we have a large family. All our siblings have kids, and some of those kids have kids. I became an uncle at one and a half, and a grand uncle at 35. Just counting siblings, nephews and nieces the total adds up to 30. I lose count when we bring cousins into the mix. I’m one of the few family members who moved away from Reno, so it’s always fun when we manage to pull everyone together for a family dinner.
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
I love going up to Lake Tahoe. It’s one of the most beautiful places on earth. Wake surfing, wake boarding and snow skiing are my big passions in life. I love to get outside and do things that are challenging.
Tell us something that makes you unique or something wacky, yet interesting about you?
I’m an open book, so there is very little that few people know about me. I’m a kid at heart who loves to have fun. I’m kind of a class clown who likes to make people laugh. One of my favorite activities is having a great meal with great friends.