How long have you been in the mortgage business and what inspired you to get into it?
I have been in the real estate industry for 16 years, 8 of those years as a mortgage loan originator. My degree is in education, that passion for education has inspired me to educate and lead buyers through their real estate transaction while increasing their financial wealth.
Tell us about a specific challenging borrowing situation and how you got the mortgage closed and funded.
I believe that communication is key. It is critical to discuss the loan application, for the buyer to ask questions, and for me to ask questions. When I know the borrower’s situation and the borrower’s goals I can guide them in the process so that we can avoid unexpected issues. For an example, it may make sense to lower a debt-to-income ratio by paying a one-time mortgage insurance premium instead of putting more money down. Communication and exploring options is key to getting all loans closed and funded.
What are the top 3 misconceptions people have about the home loan process?
First, that buyers need 20% down. There are so many options that require less money down and different ways that we can finance a home and build financial wealth. Less than 20% down applies to first-time homebuyers and buyers that are purchasing a $800,000 home.
Second, that online resources give accurate credit scores. I encourage buyers to fill out an application, let’s get an accurate picture of their financial scenario. With the complete picture, we can look at various products to accommodate their homebuying goals.
Third, the documentation that is being asked for will be difficult and tedious. The goal is documentation may be provided three times: initial application, once you are under contract, after underwriting. We will only ask for what is needed. My team and I explain what we are looking for so that borrowers are aware and can provide documents quickly and efficiently. I find that communication in requesting documentation is key, when you know what and why we need what is being asked for it takes the difficulty and tedious work out of closing your loan.
Summary of where you grew up: family, affiliations, college, high school, etc.
I was born and raised in the Kansas City area and reside there to this day. I am married to Mike Jacoby and have two sons and a daughter. I graduated from Grain Valley High School and am excited that my son will as well. I attended and graduated from the University of Central Missouri, go Mules! I love spending time with our family and friends; it may be a night on the deck with a glass of wine or cheering our kids at sports, either way I am happy! I love to travel and explore new places. I am an active member at my church. I am blessed.
Tell us something that makes you unique or something wacky, yet interesting about you?
I love water, I find it relaxing and recharging. I may be swimming laps, playing in the ocean, or observing a beautiful fountain. Either way, I am happy.