Andy Boron Loan Officer with Augusta Financial
As a loan officer I have never forgotten the first loan I ever received. It was an FHA adjustable rate mortgage. I put 3% down and I received a $5000 credit from the seller. I was scared half to death. The payment exceeded my current rental payment by $400.00. My interest rate was 8%… and it could go higher! My stress and anxiety was not helped by my loan officer. Where I was looking for stability and experience he exhibited none of it by shifting to a new company in the middle of the process and giving almost no insight into my loan options! I was flying blind. In hindsight, and for only a slightly higher payment I may have chosen a home in a nicer neighborhood if I new I could afford it or the difference in payment. The FHA loan WAS my best option, but not knowing or being counseled on what to expect from an adjustable rate left me restless and uneasy with my financing.
When I entered the business I vowed to do things differently. My clients were going to be completely comfortable with their loan. They would understand what constituted their borrowing ability and they would feel comfortable that the product they were receiving would be a financial tool they understood and were happy with. After 8 years in the business I can humbly say my goals remain the same. The lending process can at times be difficult and you as the borrower play an integral role in helping the process along. Let me tell you about getting a loan for your home