How long have you been in the mortgage business and what inspired you to get into it?
I've been in the mortgage business since 2003. My love of real estate is what drove me to enter the business.
Who is your typical customer and what questions do they typically have?
While I do a lot of refinances, I specialize in home purchase loans.
What specific steps do you use to help your customers find the best home loan for them?
I really take the time with my clients to get to know their situation so I can help guide them in the direction that makes the most sense for their family. If we are discussing a refinance, I look for all possible benefits I can provide them through a lower monthly payment, to utilizing the equity in their home to grow an investment portfolio that allows them opportunity for long term wealth. In a purchase transaction, I focus primarily on giving my clients the right expectations about the lending process, monthly payments, and benefits of home ownership.
How long have you been in the mortgage business? What awards have you won?
I have won many awards in my career in mortgages, including Gold Club, Diamond Club and President's Club levels. The most rewarding awards have come in the form of promotion, going from a Loan Officer to Sales Manager, Senior Manager and eventually Director of Sales.
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
Fixed rate mortgages provide a lot of security, at the cost of flexibility. ARM mortgages actually make sense for most families, especially those who don't believe they'll be in a particular home for the long term. ARM mortgages are a great alternative, and can provide tremendous value if explained correctly, and meet the needs of the client.
What advice would you give new or first time home buyers?
Take the steps to get Pre-Approved, not Pre-Qualified. A pre-approval means you've sent all of your financial documents to your mortgage lender to have an Underwriter review. This will give you the best possible chance (outside of down payment) to get your home offer accepted. When a client presents a fully underwritten pre-approval letter with their offer, the seller knows they are dealing with a qualified borrower who has taken the steps to ensure a smooth transaction.
Tell us about a mortgage product that consumers may not be aware of?
I offer all types of mortgage products from FHA/VA, Conventional and Jumbo. There are some really great mortgage products available for customers looking to buy homes in the upper $700k range that allow only 10% down with no Private Mortgage Insurance (PMI).
How has the mortgage industry changed since you started, and what would you expect in the future?
Mortgages as a whole have changed incredibly over the years from the tightening of credit, to the disappearance of niche products, to the mortgage process in general. This has made the process of getting a mortgage more strenuous on not only the customer, but the loan officer as well. As regulations and paperwork have increased, so has the need to go digital. This has opened the doors for technology to play a pivotal role in the mortgage process, while allowing clients to get a mortgage quote, secure a rate, upload documents and complete a mortgage loan all online. GuaranteedRate is taking it one step further with the introduction of the worlds first Digital Mortgage.
What part of the home loan process do customers find most difficult and how do you help them through it?
Dealing with the mountain of information and paperwork is what most clients find to be the most difficult part of the loan process. I help my clients through this by setting the right expectations upfront, and gathering as much information as possible in the early stages, so we don't encounter any surprises down the line.
What 2 or 3 mobile apps would you recommend for home buyers or house hunters, and why? What Smart Apps do you recommend your customers use for the house hunting process?
First and foremost, my personal GuaranteedRate mobile app. My app allows my clients the flexibility to check mortgage rates, and apply on their phone or tablet at their convenience, even in the comfort of their own home. Second, for those looking for homes, I've found RedFin's mobile app to be very convenient and useful.
What resources could you recommend that borrowers use to learn more about the mortgage process and how to ensure a successful home closing?
There is a ton of information online about the mortgage process, however it is all in "mortgage lingo". Your best resource for mortgage related questions or advice is, of course, me! I'm happy to discuss mortgage questions with any of my clients day or night, just give me a call!
What can borrowers do to insure a smooth mortgage underwriting process?
Don't open up any new credit during the process, or have your credit ran by anyone else. Have your paperwork lined up and ready to go, and please don't make any large deposits into your account without discussing with your loan officer first.
What provides you with the most satisfaction in your job as a Loan Officer?
My job is the most satisfying when the loan closes, and I get those great surveys and thank you cards from my clients. I share the excitement that they have when they finally get the keys to their new home.
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
In my spare time, I love to spend time with my Wife and two sons. We go to Church, TBall, the beach, Disneyland and try to get outdoors as much as possible. They are my world, and the reason I work so hard.