Home » Shant Banosian
NMLS ID # 7206
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- Shant Banosian has been in the mortgage business for more than a decade and has consistently been recognized for his high level of production and superior customer service. Shant is one of Guaranteed Rate’s top loan officers, ranking #2 nationwide with $179.8 million in 2014 production. He was recently ranked the #9 originator in America by Mortgage Executive Magazine for 2014 and is the #1 volume loan originator in Massachusetts for 2013-2014, according to Banker and Tradesman. He was also honored as the #1 purchase money loan originator in Massachusetts by Scotsman Guide in 2014. For the past two years, Shant has been featured on Mortgage Professional of America’s Young Guns list of mortgage professionals under 35, and after several years as a Guaranteed Rate President’s Club member, he was recently named to the prestigious Chairman’s Circle, an exclusive club for top producers who exceed $100 million in annual loan volume.
- Shant has found success in the mortgage business for many reasons but most notably for always putting the customer first. An impressive 98% of his clients would use him again, and he continues to grow his business thanks to word-of-mouth referrals. Shant’s goal is to simplify the mortgage process for his customers and make the home loan process easy to navigate. He and his team thoroughly educate their borrowers throughout the mortgage transaction so they fully understand their options and feel comfortable with their chosen loan program. He also strives to get loans closed quickly and averages just 12 days from application to closing.
- Shant graduated from Bentley University with a Bachelor of Science degree. He grew up in Watertown, MA, and currently resides in Belmont with his wife and daughter. He is very involved in his community and the surrounding towns, and is a current member of the Watertown-Belmont Rotary Club and Watertown-Belmont Chamber of Commerce. Community involvement is a very important part of Shant’s personal and professional life, and he is extremely proud of his Massachusetts upbringing.
What advice would you give new or first time home buyers?
Loan Officer Interview Q&A's
The best advice I could give to a first time home buyer would be to start the mortgage financing process early. Let me review your income, credit, asset and type of property you might be interested in buying in advance, so I can help you make the best decision. A home is most likely the most expensive purchase of a consumers life, let's make sure we get everything in order first. I find that most of my clients that I with me early end up savings money long term and make more confident decisions.
What are the top 3 misconceptions people have about the home loan process?
The top 3 misconceptions people have about the home loan process are: 1. You must put down 20% to buy a home: We have products for home buyers in which you can put as little as 3% down and get a great rate. 2. It is very difficult to get a mortgage. Getting a mortgage is difficult only if you are not prepared. Getting a Pre-Approval and realistic expectation of documentation requirements and underwriting criteria makes the whole process much easier 3. Self Employed borrowers cannot qualify for a mortgage: Not true, it is just as easy for someone who is self-employed to get a mortgage, as it is an employee of a business.
Tell us something that makes you unique or something wacky, yet interesting about you?
I am a sports nut. I love going to any form of competition in live attendance! I am regular at Patriots, Red Sox, Bruins and Celtics games.
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