What specific steps do you use to help your customers find the best home loan for them?
As a future homeowner, budgeting plays a critical role in the largest purchase you will ever make. Often times, mortgage guidelines allow for borrowers to qualify for more than they are comfortable spending. However, this doesn't mean that is the suggested amount to spend. As the borrower, you know best the lifestyle you want to live-vacations, hobbies, entertainment, etc. There are three questions you must give thorough analysis to in the home buying process:
1. What monthly payment will I be comfortable with for my housing expense?
2. How much cash would I like to use for this transaction?
3. How long do I plan to own this property?
The answers to these questions will really help your decisions when making this major purchase.
Tell us about a mortgage product that consumers may not be aware of?
I have been a proponent of Lender Paid Mortgage Insurance (LPMI) for years. When making a down payment less than 20%, most programs will require Private Mortgage Insurance (PMI). PMI is insurance that you pay to protect the lender in the event that you default on the loan. The traditional method of paying PMI is to pay a monthly premium, effectively increasing the overall monthly payment. One important question I ask every client is what the goal is for the property being purchased. This answer, as well as other qualifying criteria , will help us best determine which program best fits your needs to meet your monthly payment and financial goals.
What can borrowers do to ensure a smooth mortgage underwriting process?
Planning goes a long way. It is never too early to speak to a mortgage professional about your information and what to expect. I ask the important questions to help avoid any setbacks during the entire process, and work diligently to make sure your needs are satisfied. Some home shoppers have additional planning to complete before signing a contract to purchase a home. I help advise and guide you towards making the right steps to achieve your goals.
What provides you with the most satisfaction in your job as a Loan Officer?
Settlement day! Crossing the finish line with you and sharing in your achievement is what I truly take pride in. Our Digital Mortgage is such an incredible tool, and with so many borrowers preferring to complete the mortgage process electronically, it's a pleasure to attend the closing and meet you.