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 over 20 years. I got my start at Shawmut Bank ,many years ago, and have since worked for many of the major banks in the region. I got into the industry through a friend. He said he loved the job because not only was he making a living selling mortgages he was helping people buy homes and or saving them money on refinancing. I really enjoy helping people.
What specific steps do you use to help your customers find the best home loan for them?
At Guaranteed Rate I have access to well over 20 investors and hundreds of different loans programs.This large variety of products is great to have access to, but it now makes it essential for me to know my clients individual needs and wants in order to match them up with the best product. I pride myself in consulting with them to truly understanding those needs and wants. Some of the questions that make each loan different are; credit scores, how much for a down payment, how long do the feel they will be living in the home, etc, etc. Once I have attained enough proper information I can then go and use my search engine software to shop for the very best product in the market today.
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
I am always asked" should look at a fixed rate or an adjustable"? My question back is .." how long will you be in the home for"? Unless you know for sure on your time frame, fixed is a good secure option..ARM products are fantastic in the right situation but they do run the risk of going up on you, so you must be prepared .
What advice would you give new or first time home buyers?
My biggest advice to any first time buyers is to start talking to a mortgage professional way ahead of time and try and get pre-approved. The sooner one talks with a professional mortgage person the sooner they can see their credit, see where their scores are, get help and suggestions on how to improve it, as well as getting advice and help for saving for down payment .With the proper advice way ahead of time it will help assure them that when they finally do find a property they will be able to buy it .
What part of the home loan process do customers find most difficult and how do you help them through it?
What most people can find frustrating is the time between their application and the day they actually close The time in between these two dates can tend to be frustration playing the waiting game. Wait for the process of full verificataion of all the information provided employment, assets, credit, appraisal, legal work,etc.can be difficult. It is here that I take pride in monitoring the whole process by keeping my clients up to date step by step till the day of their closing.
What can borrowers do to ensure a smooth mortgage underwriting process?
The key to any job is great preparation. When one applies for a home mortgage the number one problem is lack of information given to the underwriter upfront so they can fully approve the loan right upfront. Timely and full information is the key to a smooth and a very happy process. Any and all information that the mortgage person asks for should be supplied in entirety and within a short period of time.These two steps are essential for a smooth process from the start to finish.
Summary of where you grew up: family, affiliations, college, high school, etc.
I grew up in Needham, MA, where I attended St. Bartholomew's School. I went from there to St. Sebastian's (many years ago when it was located in Newton, MA) and then went on to get my business degree from Providence College. I reside in Norfolk, MA.
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
In my spare time, I spend as much time as I can with my family. I like to work around the yard, play golf, and attend as many sporting events as I can at Boston College and Providence College. GO EAGLES AND FRIARS!!