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Royal United Mortgage loan advisors stand above the crowd
Meet Patricio. He is a Senior Loan Advisor at Royal United Mortgage in the Indianapolis office. He joined Royal United Mortgage directly out of college almost three years ago.
Patricio gets what makes Royal United Mortgage stand above the lending crowd. He says, "We strive to find out exactly how to best help our clients. It is our duty to find out what their true needs are - not just what they are wanting, but what they need."
When Patricio talks to clients he hears that everybody wants a lower interest rate. They want to save money, but he says unless you know exactly why they want to save money, whatever the reason is, you can't determine the best loan structure for that client - and that's why an advisor plays such an important role in their loan.
He had an example:
Tiffany called and wanted $50,000 and told him it wasn't really important why. She had decided to get a home equity line of credit, which is interest only, tied to the prime rate and adjusts accordingly. She finally explained she wanted the money to pay off credit card debt and to put her daughter in private school.
Once Patricio discovered why she wanted the money, he counseled her to refinance her home with a new first mortgage which would be amortized over a set term of 15, 20 or 30 years. The interest rate would be fixed and would be simple vs. compounded interest.
Tiffany was able to know exactly what her principal and interest payments would be for the life of the loan and she paid off seven revolving credit cards.
Patricio says consumers need to be aware of advertising. One of the most valuable lessons is learning to read the fine print on advertisements.
Royal United Mortgage loan advisors are able to provide a unique service for clients by creating an overall loan structure that is superior to what they will find anywhere else. Using best-in-class technology, the loan advisors can find the most current loan products to meet the clients need and expedite the process so a loan can be processed and closed within about two weeks - with the national average hovering around 60 days.
Patricio is proud to be a part of Royal United Mortgage. He says, "Here, you are a part of something bigger than yourself. We have to take care of our clients first. Take care of them and they'll take care of us."
-Elaine of the Royal United Mortgage Blog Team