How long have you been in the mortgage business and what inspired you to get into it?
I have over 10 years in the mortgage business and what inspired me to get into it was my love and passion of finance and people.
Who is your typical customer and what questions do they typically have?
My typical customer is either a first time home-buyer or an upgrading home-buyer. I typically get asked what the monthly payment is going to be and what options are there with the house they want if they are not going to be there for long.
What specific steps do you use to help your customers find the best home loan for them?
I take a look at their credit history, amount of debt, earning potential and savings history; then based on their down payment I present all available options and discuss them to aid in the decision making.
How long have you been in the mortgage business? What awards have you won?
I have been in the mortgage business for over 10 years. An award I have continuously won is the Connecticut Magazine 5-Star Service Award several years in a row, dating back to 2012.
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
The pros of a fixed mortgage is piece of mind of knowing your payments will never change and can never increase. The benefit of an ARM is the initially higher lower interest rate. If used wisely, Arms could be a lower cost option over time.
Tell us about a specific challenging borrowing situation and how you got the mortgage closed and funded.
I have experience numerous challenging borrower situations that there are too many to remember a whole specific story. However, my approach for each one is to research, set expectations and maintain communication at all times to handle those challenging situations.
What advice would you give new or first time home buyers?
Figure out what payment you would have based on present available options and home search criteria and practice saving that amount of money for at least 6 months to ensure the monthly payment will be a manageable one.
Tell us about a mortgage product that consumers may not be aware of?
A new mortgage product is Home Possible Loan by Freddie Mac. This product offers a low down payment and is great for first-time homebuyers and low-to moderate-income consumers.
How has the mortgage industry changed since you started, and what would you expect in the future?
The mortgage industry has changed radically since I’ve started. From underwriting practices to loan officer compensation to closing procedures. I expect the mortgage industry to actually loosen up in the future as economic conditions improve and the post 2008 housing crisis loan performance is reviewed. I also believe technology will make the process more streamlined but will never eliminate the need for a loan advisor to quarterback the process.
What part of the home loan process do customers find most difficult and how do you help them through it?
Customers find the most difficult part in the home loan process is figuring out what their down payment will be and I help them by reviewing the loan term costs and rewards at different down payment percentages.
What are the top 3 misconceptions people have about the home loan process?
You need a 20% down-payment to buy a home. You need perfect credit. You need to be working for at least 2 years.
What 2 or 3 mobile apps would you recommend for home buyers or house hunters, and why? What Smart Apps do you recommend your customers use for the house hunting process?
One mobile app I recommend for home buyers/house hunters is Real Estate by Zillow. I’m a big supporter of the website and having it on mobile expands their already large reach by allowing you to stay on top of your local real estate market with updated listing and delivers instant notifications on the listings you’ve saved. Another mobile app to recommend is Real Estate Dictionary by Farlex, Inc. It’s a fairly new and unheard of app that offers you free, instant access to thousands of real estate definitions and hundreds of images. Search thousands of terms from multiple real estate, mortgage, and financial dictionaries for clear, in-depth definitions.
What resources could you recommend that borrowers use to learn more about the mortgage process and how to ensure a successful home closing?
Google, whether you like it or not, is the answer to everything. But if Google can’t answer your question, dialing 203-673-2131 will. (It’s my cell phone number)
Are you active in any local associations or community groups, and at what level? What goals and/or success have you helped these groups achieve?
Start the process 3 months before making an offer on a property to knock down any red flag and get your financial house in order and prepared for mortgage underwriting
Are you active in any fundraising organizations? What goals and/or success have you helped them achieve?
I was the youngest president ever of any Portuguese social center in the United States at the age of 28, at the Vasco da Gama Cultural Center located in Bridgeport, Connecticut.
What provides you with the most satisfaction in your job as a Loan Officer?
Helping people purchase a home who did not believe home ownership was possible for them provides me with the most satisfaction in my job as a Loan Officer.
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
I enjoy spending time with my family, watching movies and working on my cars.
Tell us something that makes you unique or something wacky, yet interesting about you?
I enjoy spending time with my family, watching movies and working on my cars