How long have you been in the mortgage business and what inspired you to get into it?
I started in the mortgage business in 1997. I started as my wife Rebecca's "assistant" and was fired and/or quit at least 6 times in the first year. We are still working together and going strong ever since, it's a family effort!
Who is your typical customer and what questions do they typically have?
Most of my new clients first question is what is the rate, sometimes because they are not really sure what questions to ask. I work with many new buyers that are buying their first home and are trying to understand how it all works, this is where we can help. I also work with clients that have purchased homes in past or that are also buying and selling. There is at least one common thing with new or seasoned buyers: everyone has questions and I'm always sure to offer my advice and suggestions if my clients need it.
What specific steps do you use to help your customers find the best home loan for them?
My clients and I have a pre purchase consultation prior to putting in an offer where I review their income, credit, assets and goals to help them come up with the best game plan for their mortgage structure. I also provide them with a total cost analysis which provides side by side comparisons on loan programs. They can view this on a PC, IPAD, IPhone or Android device which is handy for them when they are out viewing houses.
How long have you been in the mortgage business? What awards have you won?
I've been in the mortgage business since 1997. I've been featured on WBZ radio in Boston, and have been featured in Mortgage Originator Magazine. I'm currently in the President's Club at Guaranteed Rate which is an award given to the top producers in the Company
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
The advantage of a fixed rate mortgage over an adjustable rate mortgage is if rates are in a historically low range AND you will be staying in the house long term AND you don't plan on taking equity out of your home AND you sleep better at night knowing you have a fixed rate loan. The cons would be if you are planning on selling your house in the next few years or perhaps you have a job that changes regionally every few years. An adjustable rate would be lower and would save more money in the short term. Also an adjustable rate loan may help you qualify for a larger loan amount in some situations.
Tell us about a specific challenging borrowing situation and how you got the mortgage closed and funded.
I recently had a client that owned eight companies. With my accounting and tax background, we were able to review all the business and personal returns and were able to close on time.
What advice would you give new or first time home buyers?
The three most important things to understand are 1) how much is it going to cost between the down payment, closing costs, taxes and insurance? 2) what is the monthly mortgage payment? 3) How do the tax deductions I receive from owning a house help me and what does that look like compared to the rent I'm paying?
Tell us about a mortgage product that consumers may not be aware of?
Many borrowers don't realize they can put down less than 20 percent and not have to pay private mortgage insurance (PMI)
How has the mortgage industry changed since you started, and what would you expect in the future?
Technology has changed dramatically from paper to paperless but one thing hasn't changed. Most clients need advice and guidance on navigating through the many and sometimes confusing mortgage options and products, and they often look to us to find the best programs. I expect to see programs always changes and the best loan strategy this year could be different 2 to 5 years from now.
What can borrowers do to insure a smooth mortgage underwriting process?
The most important thing is for the loan origination, is to take a complete mortgage application. A borrower should make sure they submit all items requested by the processor or loan officer and try to send information over as quickly as possible. They should also avoid taking on any new credit after getting preapproved.
Summary of where you grew up: family, affiliations, college, high school, etc.
I graduated from Salem State College, have a master\'s degree in Taxation from Suffolk University and have lived in Milford MA since 1997 with my wife Rebecca and two children.
What provides you with the most satisfaction in your job as a Loan Officer?
The most satisfaction for me is when a new client calls and tells me they were referred by a friend or family member and they heard great things about us.
Tell us something that makes you unique or something wacky, yet interesting about you?
I have a pizza oven in my back yard and make my own pizza creations all year long. My uncles were masons and built the original pizza ovens at Santarpio's Pizza in East Boston, it must be in my blood!