How long have you been in the mortgage business and what inspired you to get into it?
About 6 months in the industry, and the core values and company culture that Guaranteed Rate offered was the real driving force that inspired me to become apart of this thriving industry.
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
A fixed rate mortgage gives the borrower the peace of mind knowing what their payment will be and for how long it will be that way. Adjustable rate mortgages are great for consumers who are aware that the rate can change in the future and have the capacity to deal with those fluctuations The market is not predictable so these ARM products are really for people who are aware of the drawbacks that can occur in the future.
What advice would you give new or first time home buyers?
Take the time to understand exactly what you are getting and make sure it aligns with your long term goals. Don't just be the borrower who says yes to anything. Ask questions, give feedback, and always be honest, I can guarantee you that I will answer anything you ask with an honest and sincere answer.
How has the mortgage industry changed since you started, and what would you expect in the future?
It has allowed me to see the big picture of personal finance. Buying a home is a major financial decision that can allow you flexibility and comfort in the future. Understanding these principles can help borrowers in not only their home financing but their personal financing for years to come.
What 2 or 3 mobile apps would you recommend for home buyers or house hunters, and why? What Smart Apps do you recommend your customers use for the house hunting process?
I would recommend personal finance apps that help you budget month to month. By taking an active role in personal budgeting and being able to see what you are spending on what can help anyone become a more educated consumer.
What can borrowers do to insure a smooth mortgage underwriting process?
Always be honest, this is a major financial decision that requires that both sides be upfront and forthwith with each other. Open lines of communication is an essential aspect of getting a mortgage. I would also say to ask questions and be proactive in the process. The more you invest in the process the smoother it will be.
Are you active in any local associations or community groups, and at what level? What goals and/or success have you helped these groups achieve?
I do side work for Cubs Charities during the MLB season and our goal every year is to raise over 1 million dollars. That money goes towards funding local baseball fields and youth sports in the Chicago area.