How long have you been in the mortgage business and what inspired you to get into it?
I have been in the Mortgage business for over 22 years. I have seen Mortgage Technology improve 10 fold. Putting a family into a new home and watching the happiness is awe-inspiring.
Who is your typical customer and what questions do they typically have?
My typical client is retail, self-generated vs purchased leads together with a Realtor referral. When I close a transaction I always ask for a rating which is 8 questions, i.e. Rate the experience 1 to 10 with 10 being the best:
b. Would you recommend your loan officer to a friend or family member?
c. Do you have any suggestion on how I can improve your loan experience?
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
Now we all know that an adjustable rate Mortgage has a lower starting rate that can change over time- this is the part that for the most part is not explained completely. The product may allow a client to qualify for a larger mortgage. Some clients say that they will be selling the home in five years so why not take the lower rate. The issue is that no one really knows where interest rates are going, not even the Federal Reserve.
If the premise is correct that no one really knows what interest rates will do, then the facts support a fixed rate mortgage. Each case is different and, depending on the circumstances, either type of Mortgage may be suitable.
Purchasing a home is a major investment so speculating on interest rates is generally not in the best interest of most future Home Owners.
What advice would you give new or first time home buyers?
The first thing I would recommend to a new client is to apply at Guaranteed Rate Mortgage with Augie Zolezzi as your VP of Lending.
The application even without a home to move into is a base line. It is like a Physical examination only this is a financial examination.
You can compare your rent payment to your future Mortgage payment. This would be the bases for determining how much house you can afford and how comfortable you would be making the monthly payments and still enjoy your life for other activities. This is very important.
What part of the home loan process do customers find most difficult and how do you help them through it?
Most clients today find the application to be the most difficult part of the process but with the new technology the process has become a lot easier and less stressful.
I use two methods to get the process started. I will send an E-Mail with my contact information on it. While on the phone I inform the client that they can press the Apply now or go the WEB site for the digital mortgage.
I ask the client to take their time and give me as much information as they can. If they have any question during the process just give me a call any time.
What are the top 3 misconceptions people have about the home loan process?
1. Some of my clients have told me that they have credit issues that seem over whelming and believe they will never be able to purchase a home.
My comment is, let’s take a look maybe we have a loan program that will fit, if not let’s work together to repair the issues and then you will be able to purchase a home. It all starts with the first step:
2. It is very difficult to purchase a home, it takes too much time, too much paper work.
My job is to form the client about the process, listen to their concerns so that I may address them. If you let the client tell you about what they want or expect you are in a better position to conquer all or most of the misconceptions.
3. I make good money and have a great job but the 20% down payment will take too long to accumulate. This is where taking the application to get your base line of the credit and knowing the loan programs that are available, like Down Payment Assistance or Double Down from our firm makes the day.
You get a client with a great experience and referrals.
Summary of where you grew up: family, affiliations, college, high school, etc.
I grew up is San Diego California. I started my education at Saint Charles Academy for the first 4 years then on to grade school because our family moved to Point Loma a suburb in San Diego. I graduated Point Loan High School and was planning on going to San Diego State University. My father pass away suddenly, my job was to keep the family together. I worked and went to Junior college. I went into the Air Force to serve our country and when off duty I went to college. When I was honorable discharged from the Airforce I went back home to San Diego. I had several college credits that I earned as I went through the Air Force. I applied to San Diego State University and got my Bachelor of Science in Finance and Economics and later got my Master degree in Finance. My career started in Banking.
Tell us something that makes you unique or something wacky, yet interesting about you?
I like being around people, when there is a sale at a grocery store you might find me at the meat counter talking to someone about a receipt that I tried. I always give my cards out.
I never give up. If I get the very hard loan if the client is willing to work with me I will get them through the process no matter how long it takes.