What specific steps do you use to help your customers find the best home loan for them?
I talk to them and discuss what they're looking to do, and sometimes if the best option is to do nothing at all, then I will tell them to stay put. Otherwise, I only find and present options that I would find acceptable myself. We weigh the positives and negatives of what I've presented and make the best move according to what my client's gut tells them.
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
There are no pros and cons for fixed rate mortgages versus an adjustable rate mortgage. Mortgages are like fingerprints. No two are alike. During the process of figuring out what options to present my client, if they tell me they are planning on keeping the home forever, I will only recommend 15, 20, or 30 year fixed rate loans. However, if they assure me they will not be keeping the home for a specific amount of time, that does not exceed the fixed rate period on an ARM loan, then I will recommend taking a look at a 5, 7, or 10 year ARM because paying the premium for an extended amount of time on a fixed rate 30 year loan is not needed.
What part of the home loan process do customers find most difficult and how do you help them through it?
Translating "mortgage life" to "real life" is the service that we provide to our clients. On most transactions we do, there is zero risk associated with the transaction. Yet banks treat loans like they are 100% risk. These are regulations in place because of the Great Recession. We make sure the client understands that this is not personal and is the process that every mortgage applicant has to go through, regardless of credit history or existing financial relationships.
What provides you with the most satisfaction in your job as a Loan Officer?
As much as I love saving some of my clients a few hundred dollars a month because I have progressively put them in the perfect situation, it feels really good to take a look at someone's complete financial picture and figure out a way, if I put myself in their shoes, how I would like to see things.
Tell us something that makes you unique or something wacky, yet interesting about you?
I enjoy working on the weekends