Who is your typical customer and what questions do they typically have?
My cutomers are normally self employed like Gas Station owner, Truck driver, Taxi Operators etc.
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
Fixed rate is good for people planning to live in the house for a long time and who are not willing to take any risk. ARMs are good for those who plan to live in this house for a shorter period of time and then sell or maybe their income will be going up in the future and they are looking for bigger loan now and willing to pay a little more in the future if rates go up when ARM period ends.
What part of the home loan process do customers find most difficult and how do you help them through it?
Collecting documents. A lot of time I just tell them to tell their CPAs and insurance agents that they will be getting calls or e-mails from me to get the needed documents.
What can borrowers do to insure a smooth mortgage underwriting process?
1. Provide all the needed documents in a timely and efficient manner.
2. Answer all the questions honestly and in a timely manner.
3. Once process starts, do not increase liabilities.
4. Do not mingle personal and business funds.
5. Do not deposit large funds into bank accounts which you can not source.
6. If you're not sure about anything, ask questions from your loan officer and their team working on the loan.
7. Do not change jobs before closing.
Summary of where you grew up: family, affiliations, college, high school, etc.
I grew up in India. Did my College from LRC college Dhudi Ke affiliated with Punjab University, Chandigarh.
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
Being in the company of my wife and kids.
Tell us something that makes you unique or something wacky, yet interesting about you?
Enjoy family parties.