I have been in the real estate industry for 6 years, as both a loan officer and realtor.
I decided to become a loan officer after my first home purchase almost fell through due to financing. I had reached out originally to a loan officer who was high up at one of the big Cincinnati banks. He delivered great news- I qualified to buy! The good news ended there- the loan officer stopped responding to me almost immediately after he prequalified me. I found a home and I was under contract- but my loan officer was MIA.
I found another loan officer, who was a ‘top producer’ who responded quickly and promised he’d help. When I asked him about down payment assistance, he didn’t seem to know of anything. I did research on my own and discovered two options. My loan officer was surprised I had found them and said he needed to do some research.
I ended up getting the down payment assistance! I bought my first home with $500 down and got a great loan and instant equity (the down payment assistance didn’t have to be paid back).
My experience led me to believe that there were a lot of other loan officers out there that weren’t helping their clients. When I received my first opportunity to become a mortgage originator I vowed to always put my clients first and guide them to the best product for their situation.
Over the years I’ve learned that everyone is unique and loans aren’t ‘one size fits all.’ Sometimes down payment assistance doesn’t make sense- the rates can be much higher, there can be extra fees, etc. The best thing to do is compare options and weigh them out- with a professional on your side. That’s what I do- help my clients make the best financial decisions and build their wealth through home ownership.