Who is your typical customer and what questions do they typically have?
My typical customer these days are those mid-management clients either purchasing their 1st home or refinancing their existing one to take advantage of these historically low rates.
What specific steps do you use to help your customers find the best home loan for them?
The most important thing for a client who is in the market for any type of mortgage is to be speaking to someone who is an expert in this field & who knows how to take the time to listen to their concerns while always keeping in mind their needs.
Step 1.-The FIRST thing I do is listen to their "story", asking about their dreams & expectations. In creating a proper mortgage profile for a client it helps to know what their short term & long term plans & aspirations are.
Step 2.-Then I will ask the questions needed for me to create a personalized mortgage profile just for them. I share with them personalized mortgage options and clearly explain how each one looks financially for them. I explain the short & long term effects of every program they are interested in & then the ones I would recommend based on their personal mortgage profile.
Step 3.-I make sure that they have answers to all their questions. I find that when I take the extra time to make sure my clients have all their questions answered they proceed through the pre-approval, application, & closing process so much more relaxed & confident and THAT is a big reason they often get done quickly & with little or no hiccups. Mortgages may be complicated now but if we do our jobs right in our ares of expertise the client would never know it.
What are the top 3 misconceptions people have about the home loan process?
1. It's tedious & frustrating
2. It takes to long
3. It's hard to qualify & is expensive
What resources could you recommend that borrowers use to learn more about the mortgage process and how to ensure a successful home closing?
Like every other subject on earth, the internet has hundreds of websites that all want to "help" you get a mortgage. My 1st bit of advice would be to avoid all the on-line scams offering "free" this or that. I would suggest checking on all THREE of your credit reports and not just assume the one score your bank or financial institution offers, reveals your whole creditworthiness. A big reason for checking with all three bureaus is because there is often information on one that is not on another. And another reason is because lenders use all three also. This way there will be no surprises that could adversely effect your mortgage application when you least need to have one. AnnualCreditReport.com is the only site explicitly directed by the Federal law to provide them and you get one free report per year from them. There is a slight charge to get your scores but it's worth it because mortgage lenders often use your MIDDLE score of all three.
I would ask family or friends that may be in the financial industry, your CPA or your attorney, for strong recommendations. These people are usually objective & outside the transaction, (with the exception of the attorney in some states). Always make sure the person you are directly dealing with is federally licensed.
What provides you with the most satisfaction in your job as a Loan Officer?
After 30 yrs of originating mortgages I still find that I enjoy the feeling of first speaking to a client and, (if I do my job they way I always purpose to do it), watching them relax & feel confident that I will make the process much easier then they expected. When it's all done I love seeing their joy knowing they are going to take part in the American Dream and be a homeowner. I also take seriously my responsibility to be a positive part of the largest financial decision of their lives.... Never gets old!
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
I am a professional jazz & classical musician. So often I lock myself in my studio & play or just listen for hours..
Tell us something that makes you unique or something wacky, yet interesting about you?
I love cliff diving