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Tim Kailer

Mortgage Associate
1806 W Cuyler Ave, Suites 1W and 2E, Chicago, IL 60613
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NMLS: 1584488
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Tim interview Q&A

How long have you been in the mortgage business and what inspired you to get into it?
I got into the industry after a long career in logistics management.
Who is your typical customer and what questions do they typically have?
My typical customers are well informed after our first conversation and usually just have exploratory questions initially. After our first conversation they're always in a better place and have a grasp on the situation.
What specific steps do you use to help your customers find the best home loan for them?
I make sure I fully understand which features, advantages, & benefits matter most to them and I help them reach those goals.
How long have you been in the mortgage business? What awards have you won?
Not all that long, but I'm hungry to move forward and make a real name for myself in the industry.
What are the pros and cons of a fixed rate mortgage versus an adjustable rate mortgage (ARM)?
A fixed rate will give you peace of mind knowing that your rate will not change during the duration of the loan, but it cannot change with the market if the market goes down. Conversely, if the rates go up, you will be locked in at a lower rate. An ARM benefits you by giving you a lower\teaser rate for the first 3\5\7 years before the fully indexed rate becomes your rate. Sometimes that fully indexed rate can really jump up and cause a big monthly payment jump. However, you can also take that teaser rate and sell the house before your initial cap then you avoid the jump and end up only paying the lowered teaser rate.
What advice would you give new or first time home buyers?
Make sure to take the time to understand exactly what you're getting into and also understanding exactly what you want to accomplish.
Tell us about a mortgage product that consumers may not be aware of?
Lender credits - This is when a lender pays a portion of your costs, usually closing costs. Usually at the expense of a slightly higher rate.
How has the mortgage industry changed since you started, and what would you expect in the future?
The industry is constantly changing and evolving. It always has been and always will be.
What part of the home loan process do customers find most difficult and how do you help them through it?
Trusting the lender. I make sure to establish credibility immediately by being genuine and honest with my borrowers.
What provides you with the most satisfaction in your job as a Loan Officer?
Helping my borrower achieve their goals.
Tell us something that makes you unique or something wacky, yet interesting about you?
I'm the most dependable person on earth. If I say I'm going to do something, I do it.

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