Who is your typical customer and what questions do they typically have?
My typical customer is a FHA or conventional buyers in the Cambodian-American community of Minnesota. They typically ask questions about rates and closing costs. They also ask questions about down payments for homes.
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
One pro of a fixed rate mortgage is that the payments are fixed and will not fluctuate from month to month. A con of a fixed rate mortgage is that the mortgage will often last longer than an ARM. Another con is that the rates of a fixed rate mortgage will be higher than an ARM, thus payments will be higher
What can borrowers do to ensure a smooth mortgage underwriting process?
One thing borrowers can do is to make sure they have all the necessary documents ready and prepared to be used in the borrowing process. Having conditional approval could also help insure a smooth mortgage underwriting process. If the borrowers have previous experience with the mortgage process, it helps because it will be familiar. Something else that will allow for a smoother mortgage underwriting process is making sure that the borrowers\' documents are received on time or as soon as needed.
Summary of where you grew up: family, affiliations, college, high school, etc.
I grew up in Phnom Penh, Cambodia and immigrated to the United States in 1980. I attended college at the University of Minnesota and earned a Bachelor\'s degree in Mechanical Engineering.
Tell us something that makes you unique or something wacky, yet interesting about you?
Other than work, I enjoy shopping and gardening. Traveling is definitely one of my favorite hobbies