How long have you been in the mortgage business and what inspired you to get into it?
I have been a mortgage specialist for over 10 years. Before helping borrowers buy homes and refinance, I was a broker that invested in interest rate markets that influenced the direction of mortgage rates. This experience of learning how the markets work inspired me to get into the business of directly helping people benefit from refinancing and buying their dream homes. It is my pleasure to help people secure the best loan for their needs. I love what I do!
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
A fixed rate mortgage is a long term solution that most borrowers choose to go with for their loan. Your interest rate and principle and interest payment does not change for the life of the loan. However, many people have saved with the lower interest rate that is available with a adjustable rate mortgage. The rate will adjust after a fixed period. So if the loan is a 7 Year adjustable, the loan is fixed for the first 7 years of the loan, and will adjust after that period. If rates go up, the rate can end up being as much as 5% higher if rates happen to move up a lot. An adjustable rate mortgage is for borrowers who strongly believe they will be selling their home before the fixed period ends.
What can borrowers do to insure a smooth mortgage underwriting process?
My suggestion for borrowers is to spend the time upfront to quickly send in all of the requested loan documents as soon as possible. We want to send your file to the underwriter with all of the information the first time so they have the best picture of your situation. This will allow your file to move quickly through the loan process. Being thorough upfront is the best way to achieve a smooth loan process.
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
I believe in balance in life is very important. In my spare time I enjoy spending time with my family. I enjoy watching and playing sports and watching movies. I am a die hard Angels baseball fan. My wife, my 12 year old son, and 7 year old daughter keep me busy with their activities and they help me stay focused on the important things in life.