How long have you been in the mortgage business and what inspired you to get into it?
I have over 10 years experience in the mortgage industry. Being able to help individuals achieve home ownership, which is one of the most important investments they will ever make, inspired me to enter the industry.
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
Fixed Rate: Pro – “predictability.” You’ll know exactly what the payments will be over the life time on the loan.
Con – “Higher Payment.” Interest rate is usually higher than initial rates on an adjustable rate mortgage.
Adjustable rate mortgage: Pro – “Initial Savings.” Lower monthly payments during the initial rate period.
Con – “Not fixed.” If interest rates climb higher after the initial rate period, your payments would increase.
What are the top 3 misconceptions people have about the home loan process?
1: You can’t get a home loan with less than 5 percent down – Home loans can be obtain with as little as 1 percent down.
2: If you’re underwater on your mortgage you can’t refinance. – There’s a number of good programs that underwater homeowners can use to refinance.
3: Where you do your banking will get you the best rate or deal – It’s highly unlikely your bank will offer the best rates simply because you bank there. The best way to get competitive rate quotes is to talk to a licensed mortgage specialist that has access to multiple loan programs.
What provides you with the most satisfaction in your job as a Loan Officer?
I find it most satisfying when the client starts off feeling skeptical about both the process and the outcome and by closing time he/she is convinced that he has the best loan for his situation and that I’m his loan officer for life.
Tell us something that makes you unique or something wacky, yet interesting about you?
I’m the 11th child in a family of 12 children – 6 boys/6 girls. As a sibling group, we hold two PhD’s, four MD’s and six Master degrees. I trade foreign currencies for a hobby.