What specific steps do you use to help your customers find the best home loan for them?
1. Active Listening – It is most important to find out what the borrower’s primary desires and concerns are and address them upfront. When the customer is at ease and has all their questions answered, it makes the borrowing experience run more smoothly for everyone involved.
2. Educating – You must have expert product knowledge and set realistic expectations for your borrower. By the end of the transaction, the client should have attained a basic understanding of the lending process and feel comfortable having chosen you to originate for them.
3. Providing Solutions – Ideally, the lending process should be easy and painless. It’s the duty of the loan originator to find the best deal for their client and be there for them at every step of the way.
What are the top 3 misconceptions people have about the home loan process?
1. A lower interest rate always equals a lower cost. – There are many different factors that are accounted for when the determining the total cost of the loan, it’s not solely based on the interest rate.
2. You must have “great” credit to get a mortgage loan. – Because we have such a wide variety of products to choose from, this allow us to find the perfect product for our varying clients’ credit scores.
3. Online mortgage lenders don’t offer as low of rates as banks do. – Online mortgage lenders, such as Guaranteed Rate, can beat or match the rates of large banks in most cases. Also, having the ability to complete a digital mortgage streamlines the lending process to speed up the funding of the loan.
What provides you with the most satisfaction in your job as a Loan Officer?
The most satisfying aspect of the job is knowing that the borrower is at ease and confident in their decision to entrust you with their loan. I make a conscious effort to provide my clients with peace of mind from beginning to end.