How long have you been in the mortgage business and what inspired you to get into it?
25+ years. Finance and mortgage finance in particular had always been an interest. Working with people was also something I enjoyed doing. I started off collecting payments from folks and even that was all about building a relationship and understanding a need.
Who is your typical customer and what questions do they typically have?
I deal with all types of borrowers from FTHB to an owner of 10+ financed properties with multiple business entities. Income calculation is one of my strengths.
What specific steps do you use to help your customers find the best home loan for them?
I key in on understanding their needs, their objectives and their expectations of their lives and livelihoods over the next 5-10 years to be a better consultant.
How long have you been in the mortgage business? What awards have you won?
25+ years. Leaders club member at Wells Fargo Home Mortgage.
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
Fixed rate mortgages come with the peace of mind of knowing your payment and rate will not change for the life of the loan. Con is rate is higher than adjustable rate mortgages start rates.
Tell us about a specific challenging borrowing situation and how you got the mortgage closed and funded.
Fannie and Freddie Home Possible and Home Opportunities programs with 3% down payments. GSFA program with 5% in funds provided behind a FHA 96.5% mortgage.
What advice would you give new or first time home buyers?
Have a little bit of funds saved if something needs to get fixed like a water heater or air conditioner etc. Don’t stretch the limits of your budget just because a lender is able to give you an approval. Be realistic about how much of your monthly income can be allocated towards the mortgage payment, taxes, insurance and anything incidental.
How has the mortgage industry changed since you started, and what would you expect in the future?
Technology drives the industry much more and will even more so in the future
What part of the home loan process do customers find most difficult and how do you help them through it?
Gathering all the documentation necessary. Give them a list up front and check things off as they get them to you.
What are the top 3 misconceptions people have about the home loan process?
That it is hard to get a home loan. If you qualify from an income standpoint, have acceptable credit and have the funds necessary for down payment and closing costs eligible borrowers can find financing.
What provides you with the most satisfaction in your job as a Loan Officer?
Helping people realize the dream of home-ownership and improving their financial situation with a refinance.
Tell us something that makes you unique or something wacky, yet interesting about you?
I attended college on an athletic scholarship and was indicted into my University’s Athletic Hall of Fame in 1993. I guess that is a bit unique? Wacky I don’t know I’m pretty straight laced.