How long have you been in the mortgage business and what inspired you to get into it?
I have served in the mortgage industry for over 10 years and have always had an interest in real estate and finance. Getting my clients to the closing table gives me a sense of fulfillment that no other industry could provide. There is nothing better than seeing a client achieve their dream of homeownership. I get to be the guy who improves people's lives and I couldn't ask for a better career.
Who is your typical customer and what questions do they typically have?
The majority of my clients are first-time homebuyers who know very little about purchasing a home, and so the questions I receive pertain directly to every aspect of becoming a home owner. With my expertise, I am able to provide my clients unparalleled service and answer any questions that arise before, during, or after obtaining their first home.
What specific steps do you use to help your customers find the best home loan for them?
During the application process I ask my clients many questions and analyze every aspect of their loan file to determine which programs best fit their needs and criteria. From this, I typically offer several different options and allow the client to choose the loan program that works best for them.
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
When it comes to fixed rate vs adjustable mortgages, both options have their pros and cons. For example, a fixed rate mortgage is better suited for those individuals who plan on staying in their home for an extended period of time (greater than 7 years). A fixed rate mortgage ensures the homeowner will have the same interest rate throughout the life of their loan. If a homeowner does not plan on staying in their home, an adjustable rate mortgage (ARM) may be a better option. ARMs typically come with a significantly lower interest rate, which can be fixed for a period of the first 3, 5, or 7 years. If a client were only going to be in their home for 5 years before selling and upgrading to a larger home, the interest savings provided through an ARM product would be of greater value than ensuring the interest rate is fixed for 30 years. Clients should consider their plans forward before choosing a fixed or adjustable loan product.
What advice would you give new or first time home buyers?
Owning your own home is so much more rewarding than renting. Many first-time homebuyers have anxiety over the home buying process. To help alleviate this anxiety, find both a mortgage and real estate professional you can trust, and let those professionals lead you to the closing table. Also, it is important to be organized, responsive, and punctual when asked for documentation. The professionals you choose to work with are typically up against tight deadlines to get you into your first home. Being on top of your game will help your professionals alleviate potential frustrations and ensure deadlines are met on time.
How has the mortgage industry changed since you started, and what would you expect in the future?
I believe the real question is, "How hasn't the mortgage industry changed?" As a heavily regulated industry continually growing and changing, it can often times be challenging for those Mortgage Loan Originators who only originate a few loans per year to keep up on industry changes. This is why it is so important to choose a mortgage professional who actively originates and keeps up on continually evolving regulations, guidelines, and loan programs. As the mortgage industry grows, I believe we will see more government agencies and lenders adopting the digital world to make the process of obtaining a mortgage completely paperless. Technology will continue to be enhanced and implemented, which will streamline the process altogether.
What part of the home loan process do customers find most difficult and how do you help them through it?
Obtaining a mortgage can be a convoluted process. Because clients have their own set of daily responsibilities to keep up with, adding a laundry list of items needed to obtain a mortgage, to an already busy routine, can be complicated for some borrowers. This is why at Guaranteed Rate we offer the Digital Mortgage as a solution to streamline the entire process. From applying online and obtaining an immediate underwriting decision, to uploading required financial documentation through a secure internet portal, our clients are covered.
What can borrowers do to insure a smooth mortgage underwriting process?
Obtaining a mortgage requires financial documentation to be submitted by clients in a timely manner. Borrowers should anticipate being in contact with my service team daily and provide any requested documentation within 24 hours. Submitting documentation up-front and on-time will help alleviate any back and forth communication with underwriting and streamline the entire process. Submitting a complete package to underwriting the first time will ensure a timelier transition from application to approval.
Summary of where you grew up: family, affiliations, college, high school, etc.
My three sisters and I grew up in Magna, UT with our entire extended family living just minutes from each other. We were all really close and had an amazing childhood full of camping trips, vacations, and most importantly, a loving home to grow up in. As a kid, during the summer, I'd pull all the blankets I could find out to the trampoline and sleep under the stars. Our home became the neighborhood hang out and friends would join our family after school to find a warm meal and comfortable home environment. I served as Student Body President and graduated from Cyprus High School, Class of 2002. Helping other families achieve homeownership is of great importance to me because, in a way, I am making it possible for my clients to provide their families with the same warmth and comfort provided to me as a child.
What provides you with the most satisfaction in your job as a Loan Officer?
Being able to see my clients (realtors and homeowners) through to the closing table provides the greatest satisfaction. There is no better joy than knowing the obstacles each client has faced and seeing the happy looks on those faces once the final papers have been signed and the keys to their new life have been awarded.
What do you enjoy doing most in your spare time when you are not helping people with their home loans?
I am an artist at heart. In addition to mortgages, I work in my spare time as a creative designer. I love all things media. Graphic / web design, music production, video editing, photography, interior design, brand consulting, organization, lighting design and christmas light installation, event planning, marketing, and anything else creative I can get my hands on. I find joy in being multifaceted and exploring as many talents as possible, all at once, while continually blurring the lines between one profession and ten.