1. How long have you been a lender?
I started as a receptionist at a mortgage company in 1990 and worked my way from the ground up. I have now been in the lending industry for over 20 years. Ouch, I’m aging myself here.
2. What made you get into this career?
My mother started in lending over 35 years ago and she encouraged me to learn and soak up as much as I could about lending. She felt it was a solid career for a woman. At the time she started in lending, it was very male-dominated. She worked her “you know what” off to prove herself and earn her stripes. I’m proud that I have been able to follow in her footsteps.
3. What do you love most about your job?
Nothing makes me happier in my job than calling my client and letting them know their loan has been approved. It’s a good feeling, especially when working with first time homebuyers.
4. What do you dislike most about your job?
Regulations, regulations, regulations. The government has put so many road blocks into lending since 2007 and lenders find themselves chasing their own tail quite often.
5. What’s the biggest mistake people make when getting a loan?
Not working with an experienced lender. Anyone can get a license and practice lending. You want a seasoned professional who has been in the business for years. Think about it: they weathered the storm during the housing crises and still came out standing. That is a testament to a fighter and someone who had the reputation and expertise to continue in lending even when there was very little lending going on at the time.
6. What’s the biggest misconception people have about lenders?
That we are used car salesman. Thanks to many of the loan officers who are no longer in the industry (thank goodness), many people believe we were all out for a quick buck and have no conscience for the consumer. The “crooks” that were part of our industry several years ago are long gone and could not get a license because of their past history.
7. What’s the difference between FHA loan and a conventional loan?
There are many differences, but in a nutshell, FHA only requires 3.5 percent down payment. It’s a very flexible program with income and credit. Conventional financing is optimal for those that have a 20 percent down payment.
8. What should people keep in mind when picking a lender?
Not only should you choose someone with experience, but someone you click with. You are going to spend a lot of time communicating with your loan officer during the mortgage process, so find someone you are comfortable with.
9. How soon after a bankruptcy, foreclosure or short sale can people apply for a mortgage?
On average, its three years.
10. We tease you about being single on the show, are you really looking for a date?
Absolutely. I enjoy being single, but a date with a great man is always welcome.
Lisa the Lender joins Diane Brennan and Linda Williams on That Real Estate Show every Saturday at 3 p.m. on News/Talk 92.3 KTAR. For your free report on 27 valuable tips to sell your home, contact us and tell us you want your free report!
- Locals helping locals: 6 success stories you need to know about
- Sunscreen facts that could save your life
- 6 energy saving hacks for your home
- 5 tips for choosing a company to end your timeshare
- Water tips to save money, help save the Earth
- 5 of the most adored gentlemen in professional sports today
- The real danger of sitting at your desk
- Most surprising NBA playoff performances of the last 40 years
- 11 classic baseball movies you must see again
- Finally getting rid of fat: 3 methods that actually work
- 4 reasons cancer survivors should focus on food
- 5 spring cleaning spots everyone forgets
- 5 reasons to look forward to watching the D-backs this season
- Common virus attributed to spike in head and neck cancers
- 5 signs it’s time to end your timeshare ownership
- 3 most overlooked ways to keep your home healthy
- 6 ways the air in your home could be making you sick
- CrossFit dangers: 5 common injuries and how to deal with them
- Today's radiation treatments offer better success, fewer side effects
- Tips to make watching TV on the patio even better
- What really happens when you donate to a community college?
- Sun and skin cancer: Separating fact from fiction
- 5 critical lifestyle changes for a healthy colon
- What you need to know about Alzheimer's disease in Arizona
- Spring clean your windows like a pro with these 8 tips
- 7 films that should have won best-picture Oscars
- New plumbing technology saves money and improves your home
- Survey shows Arizona CFOs optimistic about 2016
- How chronic pain can affect your love life
- 5 potential warning signs about your child's development