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Pat Lavell

Vice President of Mortgage Lending
750 Lexington Ave, 4th Floor, New York, NY 10022
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NMLS: 179233
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TestimonialsCustomer testimonials Read more

Many thanks to you and Vanessa for your outstanding client service. Both my mother and I were extremely pleased with the refinancing process, and with everyone we interacted with – Vanessa was great, always there to help. I should also take this opportunity to mention that Maria too, was very professional, and very, very patient! So a personal thanks to you and to the team. You can be sure that Liberty will be the first call I make with regard to any future financing needs, and that I...

David

Just a short note to thank you for handling the mortgage for our new home. You were always available to answer questions, and your thorough knowledge of the field was most helpful. We appreciate the especially personal touch you placed on our working relationship. You provided a smooth transition for us. Many thanks!

Jean and Bill

Mohammed and I thank Pat and Vanessa for your help in closing our home yesterday. Many thanks to you both for a smooth process. We would definitely refer you to our family and friends!

Rose

Just wanted to thank you for picking up the extension fee for our refinance. Everything went great at the closing last week. Thanks for all of your help. It was a pleasure doing business with you and the others in your office. We would recommend your firm to our friends.

Jennifer and Alan

I want to commend you on your company and team.For the most part, I want to commend your processors for being sensitive to my needs and responding quickly and professionally. I needed a loan to buy a house and there were a few complications. I was definitely stressed at times thinking that I wouldn't get my mortgage on time, but your team worked hard to help me and I was able to get this loan on time. This is a great company to deal with. I was treated with great diligence and all due...

Maria

We had approached a number of banks before I found Pat Lavelle and Guaranteed Rate. I wanted to be approved for harp, which all other banks could not or would not do for us, Pat was able to find the way to get that for us.

Kevin S.– Yonkers, NY | June 2015

Pat Lavell and his team were fantastic to work with. They were very straight forward and kept me grounded on my first home purchase, I doubt it would have gone as well as it did if I didn't have them on my side. I felt like they were genuinely happy to help me purchase my home and they did everything they could to make my experience as easy and smooth as possible. They were always very responsive on the phone and on emails, they always explained everything on my level to a point that I felt...

Darlene M. - Sarasota, FL | Dec. 2015

About Pat

I've been in the mortgage industry for 29 years. I originally got into the mortgage industry in Boston in the mid-80s, was relocated with a previous employer to Rochester, NY in the mid 90's and since 2002 most of my business has been financing co-op apartments in New York City! I received my undergraduate degree at Ithaca College and my MBA from Boston University, and am probably one of the few combination Jets / Red Sox / Knicks fans in existence! I opened my own mortgage company in 1998, but decided to move to Guaranteed Rate in 2015. With ever increasing compliance, the need for more lenders and better technology to compete, it became evident that a change to a bigger banker was necessary. When my team and I came over, we found that the GR system was designed very similarly to how we already worked, but the scale was much bigger and the rates much better!

Pat interview Q&A

Who is your typical customer and what questions do they typically have?
My typical customer is seeking help with purchasing or refinancing a co-op apartment. Because of my experience in financing co-ops, 80% of my business involves a co-op apartment. In most occasions the transaction is fairly routine: we approve the borrower and approve the co-op and the loan closes. But other times we have to help the co-op board and /or the management company work to get their documents to comply with current mortgage standards.
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
For most people, the fixed rate option is still the best mortgage. With people who don't expect to move in the next few years, and who are paid by salary, the fixed rate option will provide a stable, predictable payment. For those people who expect to move in the near future (5-7 years), or who have variable income (i.e., bonus, commission, self-employment) the lower rate offered by the Adjustable Rate Mortgages (ARMs) may be better option. Because there is potential for the ARMs to increase dramatically (eventually), the decision to go with this product should be one that is weighed carefully.
What part of the home loan process do customers find most difficult and how do you help them through it?
The biggest issue for most borrowers is the documentation process. In most cases, when I first speak with a borrower at the point of pre-approval, I provide them with a list of the necessary documents so that they can take their time to accumulate their documents, rather than scramble to find paperwork once they've entered into a contract to buy a home.
What provides you with the most satisfaction in your job as a Loan Officer?
In my career, I've provided the financing for thousands of home buyers. This is a great industry in that I have been able to help so many people realize the dream of home ownership. There are very few things better than getting a Thank You card from someone who never believed that they could buy a home!
Tell us something that makes you unique or something wacky, yet interesting about you?
I love watching Tiny House, Big Living on HGTV. In fact, I live it! Okay, we couldn't (or at least wouldn't) actually live there, but my wife and I have a 180 square foot cabin on Canandaigua Lake.

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