One of the things that I love about my career is the joy in seeing a customer happy with their mortgage from the initial application to paying their note every month. One of the things I do not like about it is when I see someone who has been taken advantage of. It breaks my heart to see people who have been placed into a subprime mortgage when they could have qualified for a conventional mortgage. This happens far too often in the area I live in. Some people just do not understand mortgages - and that is okay. However, I feel that any trustworthy loan officer should make sure their customer is getting THE best deal that they can and if a loan officer puts someone in subprime that qualifies for conventional - they have failed.
I am working with a couple now who is in this exact situation. They were put into an adjustable rate mortgage when they could have easily qualified for a conventional mortgage from the beginning. In the end, I'll have them out of subprime and where they belong! This is one of the joyful moments...
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